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(Reuters) - Brazil's state-run oil firm Petrobras is weighing options for its Polo Bahia onshore oil fields, including a potential sale, Chief Executive Magda Chambriard said on Saturday, adding that any decision will prioritize returns and shareholder interests. The Polo Bahia hub, consisting of some 28 onshore fields, was previously listed for sale under former President... Continue Reading →
McDermott has been awarded a sizeable offshore transportation and installation contract by Brava Energia for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin, both offshore Brazil. Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that approximately R$33 billion in investments are planned for refining and petrochemical projects in Rio de Janeiro, of which R$29 billion in Petrobras Capex and R$4 billion in another project that operates in synergy with Petrobras assets. The implementation of the integration projects of the Boaventura Energy Complex (Itaboraí... Continue Reading →
(Reuters) - Brazil plans to hold an additional oil auction this year for uncontracted areas in the pre-salt offshore region after Senate approval of legislation that clears the way for the sale, a senior energy official said on Wednesday. The government aims to boost revenue to meet this year's fiscal targets after Congress overturned a presidential decree... Continue Reading →
(Reuters) - The Crown Estate, which manages King Charles' public property, reported an annual net profit of 1.15 billion pounds ($1.57 billion) on Tuesday, similar to the previous year, with offshore wind leases its biggest source of revenue. The Crown Estate, which comprises tracts of land and most of Britain’s sea bed, is an independently... Continue Reading →
(Reuters) - A U.S. judge on Monday ordered Argentina to give up its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment, handing a defeat to the cash-strapped country. U.S. District Judge Loretta Preska in Manhattan said Argentina must transfer its YPF shares within 14 days to BNY Mellon,... Continue Reading →
(Reuters) - Republican Senator Joni Ernst has introduced an amendment to the U.S. Senate's tax and spending megabill that would change two of the most contentious parts of that bill and could give a small boost to wind and solar projects that had been targeted in the draft being debated on the Senate floor. The amendment introduced... Continue Reading →
(OE) Yinson Production has placed $1.168 billion project bond to refinance floating production, storage and offloading (FPSO) Maria Quitéria, which is operating under a 22.5-year lease and operate contract with Petrobras in the Jubarte field, offshore Brazil. The $1.168 billion 144A/Reg S senior secured notes were issued by Yinson Bergenia Production. The notes are fully... Continue Reading →
(Reuters) - Argentina on Monday urged London's High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its... Continue Reading →
(oilnow.gy) Brazil’s Foz do Amazonas Basin is being viewed by top industry players as that country’s top offshore frontier opportunity, with Horizon Engage reporting that aggressive bidding there signals strong private-sector belief in the Equatorial Margin as “akin to Guyana’s Stabroek field”. According to Horizon Engage Senior Advisor for Brazil and Energy Transition, Mark Langevin, consortia including Petrobras, ExxonMobil,... Continue Reading →
Brazil Energy Insight 