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Oct 17, 2019 (Reuters) - Brazil’s auction of oil prospecting rights may reduce the government deficit in 2019 to below 100 billion reais ($24.10 billion), Treasury secretary Mansueto Almeida told GloboNews TV channel on Thursday. According to Mansueto, the Brazilian government expects to receive 48 billion reais from the transfer of rights oil auction. Mansueto... Continue Reading →
Norwegian seismic services provider Petroleum Geo-Services (PGS) returned to profit in the third quarter of the year from a loss in the corresponding quarter of 2018 as its revenues received a boost amid improving market environment. In its report for the third quarter of 2019, PGS on Thursday reported total revenues of $276.5 million, compared to... Continue Reading →
October 16, 2019 SBM Offshore is pleased to announce that it completed the project financing of FPSO Liza Unity for a total of US$1.14 billion. The project financing was secured by a consortium of nine international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will... Continue Reading →
With the resumption of oil and gas block tenders in Brazil, including highly valued pre-salt tenders, offshore support vessel (OSV) owners are expecting to get any vessels that are lying by without a contract to soon rejoin the market. However, the owners of the large number of Brazil flagged vessels that were built but did... Continue Reading →
Oct 15, 2019 The National Bank for Economic and Social Development (BNDES) intends to lead the structuring of a model that enables the construction of gas pipelines to drain future gas production from pre-salt fields, which in addition to financing the works will include the search for investors for the ventures, a bank superintendent told... Continue Reading →
Oct 15, 2019 Petrobras and Pre-sal Petróleo SA (PPSA) signed a document of expenses and volumes equalization for the Tartaruga shared oil field in the Campos Basin. As a result of the contract, the Union will receive about R $ 210 million from Petrobras. The funds will go into the National Treasury single account by... Continue Reading →
Oct 15, 2019 Financing obtained by Australian oil company from ING Bank will have a maturity of four years Karoon has signed a US $ 275 million line of credit for the acquisition of the Baúna field in the southern Santos Basin. With a four-year maturity, funding from ING Bank N.V's Singapore branch provides for... Continue Reading →
Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday. "We are generally ready to go to the market for a listing... however, looking at the market right now, with everything going on in the macro environment... Continue Reading →
As investments in tight oil increased from 2016 to 2018 and offshore investments decreased, according to Norwegian energy intelligence group Rystad Energy. Tight oil investments almost reached the same level as offshore in 2018, Rystad added. However, in 2019 the table has turned. Now, offshore investments are on the rise again, while tight oil has... Continue Reading →
Oil major BP now expects to deliver divestment proceeds and announced transactions totalling around $10 billion by the end of 2019, comprising the majority of its two-year divestment program planned to complete by the end of 2020. Following the $10.25 billion all-cash acquisition of US onshore assets from BHP in 2018, BP announced a $10... Continue Reading →
