Australian oil company Woodside confirmed Monday it has been in talks with BHP over the potential acquisition of BHP's oil and gas business. "Woodside notes recent speculation regarding a potential transaction between Woodside and BHP Petroleum. Woodside continuously reviews the composition of its asset portfolio and opportunities to create and deliver value for shareholders. Woodside... Continue Reading →
Offshore Driller Vantage Posts Q2 Loss, but Wins Big in Qatar
Offshore drilling contractor Vantage drilling this week posted a net loss of $29 million in the second quarter of 2021, but its CEO was optimistic on the back of several important jack-up drilling rig contracts secured recently, especially in Qatar, almost doubling its backlog. “The second quarter represented more evidence that the industry is back... Continue Reading →
Pemex struggling to fund Zama oilfield it fought to control
(Bloomberg) --Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field. After taking operational control of the Zama megafield last month, the Mexican state-owned oil producer doesn’t have the nearly $2... Continue Reading →
Rosneft second-quarter profit leaps on higher oil prices
(Reuters) - Russian oil producer Rosneft's (ROSN.MM) second-quarter net profit showed a fivefold increase from the same period last year, it said on Friday, citing recovering oil prices. Net profit surged to 233 billion roubles ($3.2 billion) while revenue doubled to 2.167 trillion roubles. Rosneft, which includes oil major BP (BP.L) among its shareholders, said that liquid hydrocarbon production... Continue Reading →
Yinson secures US$670mil loan for FPSO Anna Nery project
(New Straits Times Press) Yinson Holdings Bhd, through its wholly-owned Singapore-based subsidiary Yinson Production Offshore Pte Ltd (YPO), together with its project partner Sumitomo Corporation (SC), signed a US$670 million syndicated loan facility for the FPSO Anna Nery project, with ING, Natixis and Standard Chartered Bank as underwriting banks. The agreement was also signed by... Continue Reading →
Seadrill, Northern Ocean settle rigs dispute
(Offshore) Seadrill has reached an agreement with Northern Ocean Ltd. on balances outstanding from Seadrill’s preparation of the semisubmersible drilling rigs West Mira and West Bollsta. Seadrill has reached an agreement with Northern Ocean Ltd. (NOL) on balances outstanding from Seadrill’s preparation of the semisubmersible drilling rigs West Mira and West Bollsta. The settlement closes all outstanding balances, claims,... Continue Reading →
Guyana Opts Against Long-term Oil Supply Deal with India
(Reuters) Guyana's Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal. Guyana sold the cargo of 1,047,820 barrels of light, sweet Liza crude at... Continue Reading →
Talos Leaves Consortium Bidding on Petrobras’ Albacora Offshore Fields
Talos Energy Inc has withdrawn from a consortium with EIG Global Energy Partners, Enauta Participacoes SA and 3R Petroleum Oleo e Gas SA, and the group has submitted a binding offer to Petrobras for the Albacora and Albacora Leste oilfields in Brazil, five sources with knowledge of the matter said on Monday. Another consortium composed... Continue Reading →
SBM Offshore announces share repurchase
SBM Offshore is pleased to announce a EUR150 million (c. US$180 million) share repurchase program, effective from August 5, 2021. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program is expected to be completed within the year 2021, and... Continue Reading →
Glencore to return $2.8 bln to shareholders in 2021
(Reuters) - Glencore (GLEN.L) will return $2.8 billion to shareholders in 2021 after soaring commodity prices helped the mining and trading company to a record performance for the first six months of the year, it said on Thursday. The London-listed company joins rivals Rio Tinto (RIO.L) and Anglo American (AAL.L) in declaring bonanza payouts after record half-year profits buoyed by a... Continue Reading →
Brazil Energy Insight 