Floating Wind Specialist BW Ideol Secures Investment from ADEME Investissement

(OE) Floating wind farm and technology developer BW Ideol has entered into exclusive negotiations with ADEME Investissement, a state-owned French financier of innovative infrastructure projects, for ADEME Investissement to invest €40 million in BW Ideol’s project development activities. Under the agreed terms, BW Ideol will transfer its co-development project portfolio to a newly created subsidiary... Continue Reading →

March 22, 2023 0

Exclusive: Middlemen have left Venezuela’s PDVSA with $21.2 billion in unpaid bills

(Reuters) - Venezuela's state-run oil company PDVSA has accumulated $21.2 billion in accounts receivable, according to documents viewed by Reuters, after turning to dozens of little known intermediaries three years ago to export its oil under U.S. sanctions. The internal disclosure of the enormous amount of unpaid sales - about 84% of PDVSA's total value... Continue Reading →

March 21, 2023 0

UK’s SFO Seizes More than $8M from Ex-Petrobras Employee

(Reuters) Britain’s Serious Fraud Office (SFO) can seize more than $8 million of illicit cash linked to a massive Brazilian corruption scandal involving state-run oil company Petrobras, a London court ruled on Friday. The SFO successfully applied to confiscate $7.7 million and 700,000 pounds held in the London bank account of former Petrobras employee Mario... Continue Reading →

March 17, 2023 0

Petrobras on CARF judgment result

Petróleo Brasileiro S.A. – Petrobras informs that today it obtained an unfavorable decision by the Third Panel of the Superior Chamber of Tax Appeals (CSRF), a body of the Administrative Council of Tax Appeals (CARF), as the Panel dismissed, by majority, the special appeals filed by the Company and ruled that CIDE and PIS/COFINS Import... Continue Reading →

March 15, 2023 0

US Needs Until Year-end to Complete Offshore Drilling Plan

(Reuters) The Biden administration needs until the end of this year to finalize a long-awaited five-year plan for offshore oil and gas development in federal waters, according to court documents filed this week. The U.S. has been without a congressionally-mandated five year schedule of offshore oil and gas auctions since the previous one expired in... Continue Reading →

March 9, 2023 0

Exxon-led Consortium Ready to Relinquish 20% of Guyana Offshore Oil Block, Hess CEO Says

(Reuters) Hess Corp indicated the consortium that controls Guyana's oil production, of which it is a member, is prepared to relinquish 20% of the Stabroek oil block, but not any areas where it now produces or intends to produce oil in the future. An Exxon Mobil-led consortium controls the 6.6 million acres (26,800 sq km)... Continue Reading →

March 9, 2023 0

Denmark restarts review of two suspended offshore wind farm applications

(Reuters) - Denmark has resumed its review of two of 33 offshore wind farm applications suspended last month over worries of breaching European Union state aid rules, the Energy Agency said on Friday. Denmark, which aims for a fivefold increase in offshore wind power capacity by 2030, has allowed energy companies to submit unsolicited applications... Continue Reading →

March 6, 2023 0

Brazil’s Petrobras faces legal risks after halting asset sales -lawyers

(Reuters) -Petrobras could face lawsuits for breach of contract after the company halted planned asset sales at the request of Brazilian leftist President Luiz Inacio Lula da Silva's government, specialist lawyers said on Friday. Petroleo Brasileiro SA, as the state-controlled company is formally known, was asked this week to halt for 90 days divestitures worth... Continue Reading →

March 5, 2023 0

Glencore sentenced to pay $700 million in US after bribery guilty plea

(Reuters) - A U.S. judge on Tuesday ordered Glencore Plc (GLEN.L) to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture,... Continue Reading →

February 28, 2023 0

Spain maps out first boundaries for offshore wind parks

(Reuters) - Spain's government on Tuesday approved its first ever delimitations for where wind farms can be developed off the country's coast, a significant step towards developing the offshore sector. Prime Minister Pedro Sanchez's cabinet approved a decree that allows for the development of offshore wind parks on 5,000 square km of maritime territory in... Continue Reading →

February 28, 2023 0

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