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(Reuters) Eni and BP are near a deal to raise around $2.5 billion in financing to merge their oil and gas operations in Angola and close to a separate agreement for Eni to buy stakes in Algerian gas plants, three sources told Reuters. The two companies last year announced plans to combine their Angolan businesses into a... Continue Reading →
(Offshore Energy) In light of Russia’s attack on Ukraine, the European Commission has proposed an outline of a plan, which is supposed to make European Union member states independent from Russian fossil fuels well before 2030, starting with gas. This could reduce Europe’s demand for Russian gas by two-thirds before the end of the year.... Continue Reading →
(Reuters) - Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives. Bernard Looney made it clear at the... Continue Reading →
The General Superintendence of the Administrative Council for Economic Defense (CADE) approved the sale of control of Gaspetro, currently with Petrobras, to Compass (Cosan group). “In summary, it is understood that the post-operation scenario is better for the competitive environment than the pre-operation scenario, given that –even if it transfers Gaspetro to a single economic... Continue Reading →
(Reuters) - Oil prices running at their hottest level in 14 years are poised to cut post-COVID pandemic fuel demand as consumers react to surging pump and power prices by pulling back on spending and travel, top energy executives warned on Monday. Global oil futures hit as much as $139 a barrel this week as... Continue Reading →
(Reuters) - France's TotalEnergies (TTEF.PA) cuts a lonely figure hanging onto its Russian investments during a mass exodus of western oil majors from the country after its invasion of Ukraine, even though no sanctions have forced such divestments. "For existing assets, the company says it will respect European sanctions whatever the consequences. But for the moment, there... Continue Reading →
The Swiss-based company behind the Nord Stream 2 pipeline denied on Wednesday that it filed for bankruptcy but confirmed it terminated employee contracts. It had previously been reported by several online sources that the company had filed for bankruptcy, and fired all 106 of its employees. Nord Stream 2 was one of the first targets of the... Continue Reading →
Credit ratings agency Moody’s has placed ratings of German oil and gas company Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for additional, more severe sanctions against Russian businesses to affect the company’s operations and credit profile. According to Moody’s statement on Thursday, the decision to place Wintershall Dea’s... Continue Reading →
German oil and gas firm Wintershall Dea, one of the five co-funders of Nord Stream 2, on Wednesday said it is writing off its 1 billion euros ($1.11 billion) financing in the gas pipeline that was suspended last week. The management board of Wintershall Dea said on Wednesday it would no longer be advancing or... Continue Reading →
(OE) Oil major TotalEnergies could see its license to develop a major offshore South African gas find scrapped if it does not submit a production plan by September, the oil and gas regulator said on Thursday. TotalEnergies discovered two large gas fields, Brulpadda and Luiperd, in offshore block 11B/12B about 175 km off South Africa's... Continue Reading →
Brazil Energy Insight 