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(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Canadian oil and gas companies Frontera Energy and CGX Energy have entered into a term sheet for a $19 million loan that will enable CGX to continue to finance its share of costs related to the Corentyne, Demerara, and Berbice blocks off Guyana. Frontera said that the loan would also allow CGX to further finance... Continue Reading →
(Reuters) French bank Natixis said it plans to stop financing the trading of Ecuadorian crude oil by 2022, after pressure from campaigners over the trade's links to environmental damage in the Amazon. The role of European banks in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon... Continue Reading →
Canada-based offshore robotics company Kraken Robotics has acquired Brazil's 13 Robotics Ltda of Brazil (“13R”). The 13R team, with offices in Rio de Janeiro and Salvador, Brazil, consists of software developers and engineers who have significant experience in underwater robotics and autonomous systems for the energy markets, Kraken said. "Since inception in 2013, 13R have... Continue Reading →
Offshore drilling contractor Noble Corporation has completed the acquisition of Pacific Drilling. Noble Corporation said Friday the Pacific Drilling hi-spec ultra-deepwater drillship fleet would further enhance Noble's global position "as an owner and operator of one of the most modern and technically advanced fleets in the offshore drilling industry." Robert Eifler, President, and Chief Executive... Continue Reading →
PetroReconcavo defined the price range in its initial public offering (IPO) between R$ 15.50 to R$ 19.50 per share. Considering the base offer of 70 million shares and the middle range, R$ 17.50, the transaction may raise R$ 1.225 billion. The offer is totally primary, that is, the funds go to the company's cash. There... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on February 24, 2021, informs that, in a meeting held today, the Annual General Meeting approved the proposal for allocation of the 2020 fiscal year results forwarded by the Board of Directors, of remuneration to shareholders in the form of dividends in the amount... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil, and Argentina, today announced its operational update for the three-month period ended March 31, 2021 (“1Q2021”). All figures are expressed in US Dollars. Growth... Continue Reading →
Marine seismic company Polarcus has agreed standstill and settlement terms with its lenders who have committed to refrain from exercising any further security interests over the Polarcus Group or their assets. The agreement follows the lenders’ decision to take over Polarcus’ shipholding unit and vessels made late in January 2021, after the company defaulted on... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has entered into, together with its subsidiary Petrobras Gás S.A. ("Gaspetro"), an instrument of transaction to put an end of a pending legal dispute with Termogás S.A. ("Termogás"). This instrument allows Termogás to acquire shares of Companhia Maranhense de Gás ("Gasmar") held by Gaspetro, which corresponds to... Continue Reading →
Brazil Energy Insight 