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(Reuters) - Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors... Continue Reading →
(OE) The UK on Thursday announced sanctions, including a full asset freeze and travel ban, against seven oligarchs including Russian oil company Rosneft's CEO Igor Sechin and Gazprom's CEO Alexey Miller, over the Russian invasion of Ukraine. The UK government said that in an effort to "to isolate Putin and those around him, these oligarchs... Continue Reading →
(Offshore Energy) The Curaçao-based international holding company, HAL Holding, has announced an intended all-cash voluntary public offer of €32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V. HAL has been a shareholder of Boskalis since 1989 and currently holds 46.2 per cent of the issued Boskalis shares.... Continue Reading →
(Reuters) - Within hours of Moscow launching its invasion of Ukraine, BP’s chief executive summoned his senior team to discuss the limited options for its Russian operations, including separating the British energy giant’s stake in Russian oil firm Rosneft or exiting completely, according to three senior BP executives. Bernard Looney made it clear at the... Continue Reading →
(Reuters) West Africa-focused Tullow Oil's chief executive TLW.L said on Wednesday its Jubilee offshore oilfield in Ghana could produce 100,000 barrels of oil equivalent per day (boe/d) and the TEN field 50,000 boe/d by 2025 under current spending plans. Tullow will spend most of its $350 million investment program this year on Ghana, where Jubilee produced around 75,000 boe/d in 2021... Continue Reading →
(OE) U.S.-based offshore support vessel owner Tidewater said Wednesday it had agreed to acquire Swire Pacific Offshore Holdings Limited (“SPO”), a subsidiary of Swire Pacific Limited for around $190 million. Tidewater said the transaction would create the industry’s largest fleet of offshore support vessels with 203 vessels in total, including crew boats, tug boats, and... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro on Monday threw his weight behind measures to tamp down domestic fuel prices after the Ukraine conflict sent oil prices to their highest levels since 2008, adding to pressure on state-run oil company Petrobras. A government official told Reuters on condition of anonymity that the Bolsonaro administration is studying... Continue Reading →
(Reuters) - Petroleo Brasileiro SA executives this week will seek government approval to increase wholesale fuel prices at its Brazil refineries, two people close to the discussions told Reuters. Price increases are a sensitive issue in Brazil because of the nation's double-digit inflation rate, and because of elections in October in which President Jair Bolsonaro... Continue Reading →
(Reuters) - Brazil's government has appointed former Petrobras executive Rodolfo Landim to chair the state-controlled oil producer's board, the company said in a filing on Saturday night. Earlier in the day, Admiral Eduardo Bacellar Leal Ferreira told Reuters he planned to step down as chairman of Petroleo Brasileiro SA , as the Rio de Janeiro... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has not taken a decision on fuel price adjustments, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. He said that after Russia's invasion of Ukraine, the oil market was "nervous" and with many doubts. "The world has plunged into a scenario of uncertainty," Luna told Reuters.... Continue Reading →
Brazil Energy Insight 