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Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 12/14/2020, informs that its Executive Board has approved the end of the competitive process, which was in the non-binding phase, for the sale of 50% of its stake in the Marlim, Voador, Marlim Leste and Marlim Sul concessions, jointly denominated Marlim Cluster, predominantly... Continue Reading →
(Reuters) - Energy consultant Adriano Pires has backed out of the Brazilian government's nomination for him to take the helm at Petrobras, Brazil's O Globo newspaper reported on Monday, as the latest succession plan at the state-run oil company appears to have fallen apart. Pires' decision came a day after soccer magnate Rodolfo Landim declined... Continue Reading →
Oil major ExxonMobil has sanctioned its fourth and largest to date oil development on its operated Stabroek Block located offshore Guyana, which will be developed with the largest FPSO vessel on the block so far. According to a Monday update from its partner Hess, ExxonMobil made a final investment decision to proceed with the development... Continue Reading →
(epbr) Rodolfo Landim, former president of BR Distribuidora and current president of Flamengo football club, withdrew from the nomination of President Jair Bolsonaro to preside over the Board of Directors of Petrobras. He sent a letter to the Minister of Mines and Energy, Bento Albuquerque, reporting the concern of not being able to reconcile the... Continue Reading →
(Reuters) - The prosecutor's office at Brazil's federal audit court (TCU) has asked the court to open an investigation into President Jair Bolsonaro's appointment of Adriano Pires as chief executive of state-run oil company Petroleo Brasileiro (PETR4.SA), for a possible conflict of interest. According to a document seen by Reuters and dated March 31, deputy prosecutor... Continue Reading →
Following last year’s announcement about an agreement to explore the combination of Keppel Offshore & Marine with Sembcorp Marine, significant progress has been made in the process. However, more time and deliberation are needed to reach the final agreement to which both companies are committed. As a reminder, the idea behind combining Keppel O&M and... Continue Reading →
(Reuters) - CNOOC Ltd (0883.HK), China's top offshore oil and gas producer, plans to raise about 35 billion yuan ($5.5 billion) next month in what will likely be China's 10th-biggest listing, to fund oil and gas extraction as Beijing prioritises energy security amid rising geopolitical tensions. State-owned CNOOC, which is blacklisted by Washington, said in a... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, informs its shareholders and the market in general that, following the best corporate governance practices, on this date has published the Proposal (“Proposal”) for the Annual and Extraordinary General Meeting (“Meeting”) to be held... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) has a strong governance and there is no room for "adventurers" within the firm, said outgoing Chief Executive Joaquim Silva e Luna on Tuesday. During a lecture at the Superior Military Court, in Brasilia, he came out in defense of the state-owned company's price parity policy, which guarantees its profitability in the refining... Continue Reading →
Australia’s FAR Limited has decided to retain the Woodside Contingent Payment within the company rather than demerging it into a new entity. However, a demerger is still on the table for the firm’s exploration portfolio in The Gambia, as the Australian player seeks farm-out options or outright sale to maximise the value of these assets.... Continue Reading →
Brazil Energy Insight 