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(OP) Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry. According to the government, the new tax will serve to attract more investments in the country... Continue Reading →
(Reuters) - Mexican state oil company Pemex and a consortium led by U.S. firm Talos Energy (TALO.N) delivered a development plan for the Zama oil field to Mexico's oil regulator on Thursday, Pemex said. The plan includes two offshore platforms and the drilling of 46 wells, as well as the transportation of oil and gas to the... Continue Reading →
(Reuters) - Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters. Swiss energy traders have posted record returns over the last few years as they thrived in extremely volatile markets brought on by... Continue Reading →
(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 →
(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 →
(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 →
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 →
(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 →
(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 →
(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 →
Brazil Energy Insight 