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(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 →
(OE) Iberdrola has taken the final investment decision (FID) for its Windanker offshore wind farm, located in the German Baltic Sea, advancing the 315 MW project to delivery phase. Windanker wind farm will reinforce Iberdrola’s Baltic Hub, which will add more than 1,100 MW of installed offshore wind capacity, comprising also the Wikinger project with 350 MW,... Continue Reading →
(Reuters) BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss... Continue Reading →
(Reuters) - U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. The share buybacks and dividends are needed to lure investors back... Continue Reading →
Brazil Energy Insight 