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Petro Rio S.A. (“PRIO”) informs its shareholders and the market in general that it has entered into a memorandum of understanding (“MOU”) with Prisma Capital Ltda. (“Prisma”) for the potential business combination of Dommo Energia S.A. (“Dommo”) (B3: DMMO3) and PRIO (“Transaction”).As per the MOU, the Transaction will be implemented through the incorporation of the... Continue Reading →
(OE) Shell has shortlisted four candidates to succeed Chief Executive Ben van Beurden who is preparing to step down next year after nearly a decade at the helm of the giant energy firm, two company sources told Reuters. During his tenure, van Beurden oversaw Shell's biggest acquisition in decades and steered the company through two... Continue Reading →
Dutch marine services and towage firm KOTUG has closed the acquisition of Seaways, first announced in April. The fee was not disclosed. "The acquisition of Seaways brings together the assets, expertise and people of two leading companies that support the worldwide floating facility business such as FSO, FPSO, FLNG, FSRU and SPM Terminals. With all... Continue Reading →
(OE) The UK Competition and Markets Authority (CMA) has accepted Noble Corp. and Maersk Drilling's plan to sell certain rigs operating in the North Sea in order to alleviate competition concerns arising from the two drillers' planned merger. The two offshore drilling firms said in November 2021 announced a proposed business combination. However, the CMA... Continue Reading →
(Valor) After completing what it classifies as its third wave of growth, Companhia Brasileira de Offshore (CBO) will “hibernate” to absorb the acquisition of ten offshore support vessels before starting a new expansion cycle. With 44 vessels, the company is one of the largest in the country in offering this service to oil companies. At... Continue Reading →
(PN) Amid rumors indicating that PRIO (PetroRio) was acquiring Dommo, the two companies provided clarification on the possible operation to the Securities and Exchange Commission. In short, the companies confirmed that they are evaluating a strategic operation, with the possible purchase and sale of assets. However, there is still no binding document or decision on... Continue Reading →
DNO ASA, the Norwegian oil and gas operator with operations in Kurdistan and the North Sea, is now expanding to West Africa with the agreed acquisition of offshore fields in Ivory Coast. DNO said Monday that RAK Petroleum plc would transfer its ownership of Mondoil Enterprises LLC to DNO. "The all-share transaction comprises Mondoil Enterprises’... Continue Reading →
The transaction to combine Mainstream Renewable Power and Aker Offshore Wind to form a renewable company with a 27 GW portfolio has closed. The deal was first announced on July 12. Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co., Ltd. and Irish minority shareholders,... Continue Reading →
(Reuters) - Singaporean conglomerate Keppel Corp (KPLM.SI) said on Friday it would spend 305 million euros ($314.7 million) along with a unit for a 50.01% stake in a special purpose vehicle (SPV) that owns 50% of Borkum Riffgrund 2, an offshore wind farm in Germany. The deal comes as companies race to increase their exposure to renewable... Continue Reading →
(Reuters) Capricorn Energy should ditch its proposed merger with Tullow Oil, investor Palliser has said in a letter seen by Reuters, describing it as "one-sided" and short of "meaningful strategic rationale." "The Proposed Merger appears to us to be a poorly disguised nil-premium takeover of Capricorn by Tullow," said the letter which was dated Aug.... Continue Reading →
Brazil Energy Insight 