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(OE) Norwegian seismic firms TGS and PGS have received approval from the UK Competition and Markets Authority, securing final regulatory approval for the creation of ‘premier’ energy data company. The approval for the merger from the UK Competition and Markets Authority (CMA) follows the one issued by the Norwegian counterpart in April 2024. The clearance... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity to the Material Fact disclosed on May 20, 2024, informs that the Administrative Council for Economic Defense (CADE) decided in favor of renegotiating the Term of Cessation Commitment (TCC) for Gas, signed on July 8, 2019 ("TCC Gas"), which was also approved today by the Company's Board of... Continue Reading →
Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil. Between 2019, when oil production began in the... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity with the Material Fact disclosed on November 28, 2023, informs that it formalized with the Administrative Council for Economic Defense (CADE), on May 17, 2024, proposals for amendments to the Terms of Cessation Commitment (TCCs) previously established. The aim of these amendments is to adapt the obligations originally... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R”) and ENAUTA PARTICIPAÇÕES S.A. (“Enauta” and, jointly with 3R, the “Companies”), under the terms of article 157, §4, of Law No. 6,404, December 15, 1976 (“Brazilian Corporate Law”), CVM Resolution No. 44, August 23, 2021, and CVM Resolution No. 78, March 29, 2022, following the material facts disclosed... Continue Reading →
(Reuters) Maryland Governor Wes Moore signed a bill aimed at reevaluating and potentially revising existing offshore wind project plans, setting the stage for the state's goal of achieving 8,500 megawatts of offshore wind energy capacity by 2031. The bill signed on May 9 will empower the Maryland Public Service Commission (PSC) to open proceedings to... Continue Reading →
(OE) Siem Offshore has changed its name to Sea1 Offshore following an ownership change that saw the company's founder and chairman exit the Norwegian offshore support vessel (OSV) firm. Kristian Siem, longtime leader of Siem Offshore, stepped away earlier this year after reaching a deal to acquire nine vessels in exchange for his 35% stake in the... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol (ECO.CN), opens new tab is analyzing its potential direct participation in the Andean country's first-ever offshore wind auction, the company said in a statement to Reuters. The government of President Gustavo Petro, Colombia's first leftist leader, has said it wants to wean the Andean country from its dependence on... Continue Reading →
(Reuters) - Hess Corp (HES.N), opens new tab reported a first-quarter profit on Thursday that beat analysts' estimates, helped by higher production from the oil and gas company that is set to be acquired by U.S. energy major Chevron (CVX.N), opens new tab in a $53 billion deal. Net production at Hess jumped 27.3% to 476,000 barrels of oil... Continue Reading →
(Reuters) - A Brazilian court overturned a previous ruling from a lower tribunal that had suspended state-run oil firm Petrobras (PETR4.SA), opens new tab chairman Pietro Sampaio Mendes from his role, the company confirmed late on Tuesday. Reuters had reported the court decision earlier on Tuesday. Mendes had been suspended by a Sao Paulo judge last week... Continue Reading →
Brazil Energy Insight 