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Petro Rio S.A. (“PRIO”) (B3: PRIO3) informs that it has received a notice from Petroleo Brasileiro S.A. (“Petrobras”) informing of the termination of the Albacora Field (“Field” or “Albacora”) divestment process, as the parties have not reached an agreement regarding the valuation of the asset.Despite Albacora’s potential, PRIO believes that a transaction with values above... Continue Reading →
(OE) Mexican senators will consider a new head of the country's powerful oil regulator, according to legal announcements to lawmakers dated Wednesday and Thursday, after the current head abruptly resigned. National Hydrocarbons Commission (CNH) President Rogelio Hernandez resigned effective at the end of last month, well before his seven-year term was set to expire in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on11/05/2021, informs that its Executive Board approved today the end of the competitive process for the sale of the Albacora concession, which will be maintained in its entirety in Petrobras' portfolio. The company was negotiating with PetroRio S.A. for the sale of the field.... Continue Reading →
(Reuters) - Opposition proposals to roll back the initial privatizations of Brazilian refineries would run into stiff resistance from their new owners, with sale contracts offering no room for reversal, three people with knowledge of the matter told Reuters. Advisors to leading presidential candidate Luiz Inacio Lula da Silva have floated the idea of buying... Continue Reading →
(Reuters) - Oil producers in Guyana are boosting exports to European buyers seeking alternatives to Russian crude, according to vessel monitoring data. Government bans on Russian oil since the invasion of Ukraine have spurred demand for alternative crudes, and Guyanese oil fits refiners from Britain to Italy better than rival Latin American grades do. So... Continue Reading →
(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
(Reuters) - Spanish energy group Repsol (REP.MC) is selling a 25% stake in its oil and gas exploration division to U.S. fund EIG for $4.8 billion, building up a warchest for renewables projects as the energy industry moves to a lower-carbon future. The deal, first reported by Reuters earlier this year, values the whole business at $19... Continue Reading →
Offshore drilling contractor Maersk Drilling has secured a contract extension with Shell, a UK-headquartered energy giant, for a 7th generation drillship, enabling it to carry out drilling services offshore Mexico once it completes its current assignment with this oil major. The rig owner revealed on Thursday that Shell has exercised an option to extend the... Continue Reading →
Denmark's Maersk Supply Service and renewable energy pioneer Stiesdal Offshore have entered into a strategic partnership to offer combined solutions to this fast-growing sector within floating offshore wind. The companies say they intend to combine their respective strengths to meet the significant expansion predicted for floating wind. Specifically, they will offer comprehensive and integrated engineering,... Continue Reading →
With the current energy crisis and clean energy transition taking centre stage, companies are shifting focus to lower-risk core assets and regions, thus, Rystad Energy, an energy intelligence group, forecasts that the global oil and gas exploration spending and activities are expected to shrink even further this year as the number of licensed blocks and total acreage fall... Continue Reading →
