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Dec. 9 (Reuters) Shell is seeking a buyer for a 20% stake in its Brazilian oilfield cluster to help fund a multibillion-dollar offshore development, Bloomberg News reported on Tuesday, citing sources. Shell declined to comment on the report, when contacted by Reuters. Shell held a 50% stake in Gato do Mato, which is a deepwater project offshore Brazil, and... Continue Reading →
Dec 9 (Reuters) - Russia's Lukoil has until December 13 to negotiate the sale of the bulk of its international assets after the U.S. imposed sanctions on the company and rejected its initial buyer, Swiss commodity trader Gunvor. Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle... Continue Reading →
Dec 9 (Reuters) - TotalEnergies has cemented its position in offshore Namibia by agreeing to an asset swap with Portugal's Galp that makes the French company the operator of the major Mopane discovery, it said on Tuesday. In exchange for a 40% stake in the PEL83 licence holding the Mopane project, Galp will get a 10% interest... Continue Reading →
Dec 4 (Reuters Breakingviews) - Shell’s status as Big Oil’s safest pair of hands has its limits. The $212 billion UK major's dividend is relatively more secure against oil price slumps than peers, its net debt is a low 21% of total capital, and operating costs are over 10% less than two years ago. Yet Shell... Continue Reading →
Dec. 4 - Petrobras informs that it has acquired the rights and obligations of the Union in Mero and Atapu units at the Non-Contracted Areas Auction held today by Pré-Sal Petróleo S.A. – PPSA. The consortium formed by Petrobras (80%), in partnership with Shell Brasil Petróleo Ltda (20%), acquired the Union’s 3.500% participation in the production sharing agreement of the Mero shared... Continue Reading →
Dec 2 (Reuters) - Oil majors operating in Brazil have closed ranks to oppose a proposed merger between energy contractors Subsea7 and Saipem, and antitrust agency Cade has asked the two firms to provide its probe with new data on Friday, public documents seen by Reuters show. The resulting new firm, to be called Saipem7, would have... Continue Reading →
Nov. 28 (oilprice.com) After the discovery of oil in Suriname’s territorial waters in January 2020, the government in the capital Paramaribo pitched its hopes on an oil boom matching that of neighboring Guyana. You see, decades of economic mismanagement, excessive spending, and corruption wreaked havoc on the former Dutch colony’s economy. Over the last decade, gross... Continue Reading →
Nov. 27 - Shell Brazil has signed the concession contracts acquired in the 5th Cycle of the ANP's Permanent Offer, consolidating its strategic position in the Santos Basin and growing its position in the deepwater sector in Brazil. The following blocks were granted: S-M-1819, S-M-1821, S-M-1912 and S-M-1914. Shell has exploration rights as operator and... Continue Reading →
Nov. 26 (oilnow.gy) Guyana is preparing for another major expansion of oil output, with the Uaru project set to start production in 2026. The development, located in the Stabroek Block, is the fifth project approved offshore the country. It is expected to move the country’s production capacity to around 1.1 million barrels of oil per... Continue Reading →
Nov. 25 (oilnow.gy) Guyana’s Stabroek Block now has 51 discoveries filed with the Ministry of Natural Resources. ExxonMobil confirmed the figure in a release on Sunday, stating, “We have announced more than 30 significant discoveries in the Stabroek Block, while filing 51 Notices of Discovery with the Ministry.” ‘Significant discoveries’ are those that materially impact... Continue Reading →
