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(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 →
(Reuters) - Exxon Mobil (XOM.N) has begun removing U.S. employees working in Russia, according to a person familiar with the matter. The departures include staff from its large oil and gas production operations on Sakhalin Island in Russia's Far East. Exxon last year employed more than 1,000 people across Russia with offices in Moscow, St. Petersburg, Yekaterinburg... Continue Reading →
(Reuters) - The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it. The United States sanctioned Nord Stream... Continue Reading →
(Reuters) - Mexican state oil company Pemex reported a $6.05 billion fourth-quarter net loss on Monday, driven by highertaxes and currency exchange losses despite more oil output, with the firm set to require further big cash infusions from the government. Pemex (PEMX.UL), which has long struggled to stay in the black, managed to turn a... Continue Reading →
(Reuters) - Shell (SHEL.L) will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the oil-rich country following Moscow's invasion of Ukraine. The decision comes a day after rival BP abandoned its stake in Russian oil giant Rosneft (ROSN.MM) in a move that... Continue Reading →
Oil and gas company Kosmos expects to spend approximately $700 million in capital expenditures in 2022. The company will spend around $400 million of the budget in relation to its base business in Ghana, Equatorial Guinea, and Gulf of Mexico. Around $300 million is set to be spent in relation to its assets in Mauritania... Continue Reading →
Brazil Energy Insight 