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(OE) The European Commission has approved a $11.64 billion (€10.82 billion) French scheme to support the deployment of offshore wind energy, which will help foster the transition towards a net-zero economy. The state aid scheme will run for 20 years. In particular, the measure will support the construction and operation of two bottom-fixed offshore wind... Continue Reading →
Petróleo Brasileiro S.A.- Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (”CADE”) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Refining, signed in 2019, through which new obligations were agreed involving the activities carried out... Continue Reading →
Petrobras, following up on the release disclosed on February 23, 2024, in which it reported the signing of the contract for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA) to Ambar Energia S.A., announces today that it has closed the transaction. This transaction was carried out by Petrobras... Continue Reading →
(Reuters) - More than 12 oil companies, including Exxon, Shell and Brazil's national oil company, have expressed interest in buying a 40% stake in Galp Energia's major oil discovery offshore Namibia, sources close to the sale process said. Galp's Mopane discovery, which is estimated to hold at least 10 billion barrels of oil and gas equivalent,... Continue Reading →
(OE) Brazilian oil and gas company Enauta has terminated the contract to acquire the floating production, storage, and offloading (FPSO) unit Cidade de Santos from MODEC, announced in relation with the acquisition of Uruguá and Tambaú fields from Petrobras. In December 2023, Enauta entered into $48.5 million agreement with MODEC to buy the FPSO Cidade... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices of redemption to the holders of the outstanding 4.750% Global Notes due 2025 (the “Notes”). The redemption date for the Notes will be July 29, 2024 (“Redemption Date”). The redemption price for the Notes... Continue Reading →
(Offshore-energy.biz) Switzerland-based offshore drilling contractor Transocean has gotten down to business in Brazil, where its newbuild ultra-deepwater drillship set the ball rolling on its inaugural drilling assignment with the country’s state-owned energy giant Petrobras. Following a purchase agreement at the end of 2022 for the acquisition of the Deepwater Aquila (ex-West Aquila) drillship for $200 million from Hanwha Ocean,... Continue Reading →
Philip Lewis, Contributor Examining similarities and differences between the deepwater oil & gas and the emerging floating wind segment. (OE) There has been much excitement around the potential for the offshore wind industry to access deeper water sites through the deployment of floating wind technology. Further, there has been much discussion around the development and deployment... Continue Reading →
(Reuters) A proposed large natural gas project in Guyana by U.S. energy developer Fulcrum LNG includes partnerships with U.S. oil service company Baker Hughes and engineering firm McDermott, the country's vice president said on Thursday. Guyana's President Irfaan Ali last week said Fulcrum LNG had been chosen from among 17 companies to help Guyana develop... Continue Reading →
(offshoreWIND.biz) European wind energy industry organisation, WindEurope, has warned that the negative bidding approach will lead to the bid costs falling onto the supply chain and/or electricity consumers after Germany and the Netherlands closed their latest offshore wind tenders, securing nearly EUR 4 billion in total through winning bids. In both countries, the offshore wind... Continue Reading →
Brazil Energy Insight 