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Jan 29 (Reuters) - Lawmakers approved in a final vote on Thursday a sweeping reform of Venezuela's main oil law after sweetening a proposal by interim President Delcy Rodriguez to lower taxes, expand the oil ministry's decision power, grant autonomy for private producers and make possible asset transfers and outsourcings. The changes are expected to... Continue Reading →
Jan. 29 (oilprice.com) Russia’s oil producer Lukoil has agreed to sell most of its international assets to private equity giant Carlyle. Following the U.S. sanctions on Lukoil and Rosneft, “as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” Lukoil announced in October it would sell all of its international assets, initiating a... Continue Reading →
Jan 29 (Reuters) - Exxon Mobil and Chevron executives may face more questions about their investment opportunities in Venezuela than their actual quarterly earnings when they hold calls with analysts on Friday. The U.S. capture and removal, opens new tab of Venezuelan President Nicolas Maduro earlier this month opened a possible - albeit arduous - path for Big Oil to access... Continue Reading →
Jan 23 (Reuters) - U.S. control of Venezuela's oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country's path out of default. Around a tenth of Venezuela's $150 billion foreign debt pile is estimated to be loans from... Continue Reading →
Jan 22 (Reuters) - Oil major Shell is considering a sale of its assets in Argentina's Vaca Muerta shale play and has approached potential buyers in recent weeks to gauge their interest, three sources familiar with the matter told Reuters. Shell is open to selling some or all of its interests in the highly sought shale... Continue Reading →
Jan. 23 (oilnow.gy) A consortium led by TotalEnergies completed payment of a US$15 million signing bonus to Guyana in December for offshore exploration rights to Block S4, according to a report published in the December 30 Official Gazette. The group, which includes QatarEnergy and Petronas, secured Block S4 in Guyana’s first offshore licensing round, which closed... Continue Reading →
Jan 23 (Reuters) - European governments including Germany, Britain and Denmark will reinforce their plans to massively expand wind power projects on Monday, despite U.S. President Donald Trump stepping up criticism of their green energy agenda, a draft declaration due to be signed by government leaders showed. Trump has been openly critical of European countries'... Continue Reading →
Jan 23 (Reuters) - SLB beat Wall Street estimates for fourth-quarter profit on Friday, as the world's top oilfield services provider benefited from the ChampionX acquisition and unveiled plans to return $4 billion to shareholders this year. The company closed the $7.75 billion all-stock acquisition of ChampionX last July, adding production chemicals and artificial lift technologies... Continue Reading →
Jan. 22 (offshoreWIND.biz) The global fleet of offshore wind installation vessels could support achieving up to 400 GW of offshore wind capacity by 2030, provided that additional vessels are ordered and deployed, alongside supportive market conditions, according to a scenario study by the Kuehne Climate Center. The study also shows that, looking globally, newbuild investments... Continue Reading →
Jan 20 (Reuters) - Brazilian state-run oil firm Petrobras and its logistics subsidiary Transpetro on Tuesday signed contracts with shipyards for five gas carriers, 18 barges and 18 pushers, for 2.8 billion reais ($521 million). The companies made the deal official at an event in Brazil's southern Rio Grande do Sul state. Brazilian President Luiz Inacio... Continue Reading →
Brazil Energy Insight 