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Aug 19 (Reuters) - Oil service provider SLB and private equity firm Formentera Partners are working to either reactivate oil rigs in Venezuela or import additional rigs into the country in the coming months, executives from both firms said on Wednesday during a conference in Houston. Energy-focused Formentera is in discussions with international service providers to... Continue Reading →
Aug 14 (Reuters) - South Africa's Constitutional Court on Friday blocked offshore exploration led by Shell along the country's pristine Wild Coast, a setback for the oil major after years of legal challenges by local communities and environmentalists. The ruling is the latest outcome in a series of court cases that have dampened investor appetite and delayed... Continue Reading →
Aug. 13 - The government also signed significant decrees for the energy industry. The first regulates the implementation of the National Low-Carbon Hydrogen Policy. The decree puts into practice mechanisms for governance, certification, tax incentives, and investment promotion, laying the groundwork for the National Hydrogen Program (PNH2) and the Low-Carbon Hydrogen Development Program (PHBC). It... Continue Reading →
Aug. 11 (Reuters) Nigerian President Bola Tinubu approved a new regulatory and fiscal framework for offshore oil and gas projects, his office said on Tuesday, a move the government says could attract up to $50 billion in investment and revive long-delayed developments. Nigeria has struggled in recent years to attract new upstream oil investment amid... Continue Reading →
Aug. 11 (oilnow.gy) Two major offshore oil stories have unfolded on opposite sides of the Guyana-Suriname Basin, but the distance between discovery and production has been very different. Guyana went from the Liza discovery in May 2015 to first oil in December 2019, less than five years later. Its first final investment decision (FID) came in... Continue Reading →
July 10 (Reuters) - Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation because of competition concerns about the deal, people with direct knowledge of the matter said. The companies announced the deal in February last year to create a leading global player in offshore energy services,... Continue Reading →
June 25 (offshoreWIND.biz) California has notified the US Department of the Interior (DOI) and Golden State Wind (GSW) of its intention to sue over the federal government’s agreement with the developer to terminate an offshore wind lease off the state’s Central Coast. In a Notice of Intent to Sue issued on 23 June, California Attorney... Continue Reading →
June 23 (oilnow.gy) Venezuela’s efforts to restructure more than US$150 billion in sovereign and oil company debt could improve investor confidence in its energy sector, but obligations to China may complicate any final agreement, according to experts interviewed by S&P Global. The June 12 report noted that Venezuela’s total external debt is estimated at between... Continue Reading →
June 18 (offshoreWIND.biz) The US Department of the Interior (DOI) said on 17 June that it had reached an agreement with Invenergy under which the developer will relinquish four offshore wind leases in exchange for a USD 765 million (approximately EUR 664 million) reimbursement and redirect the capital into natural gas and geothermal energy projects.... Continue Reading →
June 17 - BRAVA ENERGIA S.A. (“Brava” or the “Company”) (B3: BRAV3), hereby informs its investors and the market in general that it has received, on this date, a request for arbitration from Westlawn Energia Brasil Ltda. ("Westlawn"), in which Westlawn claims, among other matters, that the transaction announced by the Company involving Ecopetrol and the... Continue Reading →
Brazil Energy Insight 