Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Chevron can quickly proceed with its $53 billion acquisition of Hess (HES.N), opens new tab, after winning a landmark legal battle against larger rival Exxon Mobil, gaining access to the largest oil discovery in decades. Chevron CEO Mike Wirth's strategy to turn around his company's lagging performance hinges on the acquisition, one of the largest energy deals in the past decade.... Continue Reading →
(Eixos.com.br) Amid market pressure to hold the first auction for offshore wind power generation in Brazil, the Ministry of Mines and Energy (MME) opened a public consultation on July 14th to improve the methodology for selecting areas for the activity. The objective of the consultation is to refine the definition of technical, environmental, economic, and... Continue Reading →
(Reuters) - A U.S. judge on Monday ordered Argentina to give up its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment, handing a defeat to the cash-strapped country. U.S. District Judge Loretta Preska in Manhattan said Argentina must transfer its YPF shares within 14 days to BNY Mellon,... Continue Reading →
(Reuters) - Republican Senator Joni Ernst has introduced an amendment to the U.S. Senate's tax and spending megabill that would change two of the most contentious parts of that bill and could give a small boost to wind and solar projects that had been targeted in the draft being debated on the Senate floor. The amendment introduced... Continue Reading →
(Reuters) - Argentina on Monday urged London's High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its... Continue Reading →
(offshoreWIND.biz) A US federal judge in Massachusetts has tentatively accepted the lawsuit filed by 18 state attorneys general challenging the presidential memorandum issued on 20 January that halts leasing and permitting for wind energy projects, and calls for reviews of existing permits. The case is, however, likely to move forward only against the Department of the... Continue Reading →
(eixos) The Senate is advancing in discussions on bill 3.178/2019, which proposes the end of the pre-salt polygon and Petrobras' right of preference in the sharing auctions. The Infrastructure Committee approved on Tuesday the opinion of the committee's president, Senator Marcos Rogério (PL/RO). The bill was included in the committee's agenda at the end of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that it has been served in a lawsuit filed by Sete Brasil Participações S.A. and its subsidiaries (SPEs), seeking, in general terms, compensation for alleged losses related to the Drilling Rigs Project (“Projeto Sondas”). The amount unilaterally claimed by Sete Brasil in the lawsuit is R$ 36 billion. Petrobras... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to reports in the press about negotiations to refinance tax disputes with the state of Rio de Janeiro, clarifies that the amounts mentioned in the reports are not debt, but rather amounts under discussion in administrative and judicial proceedings, motivated by differences of understanding between the state tax... Continue Reading →
(Reuters) - Top U.S. oil producer Exxon Mobil and Hess will meet face-to-face on Monday in a court hearing to determine the fate of Chevron's $53 billion deal to buy Hess and with it a prized stake in Guyana's prolific oilfields. The planned acquisition, announced in October 2023, is one of the oil industry's biggest deals in years. It is key... Continue Reading →
Brazil Energy Insight 