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MODEC has started up operations for the FPSO MIAMTE MV34, commissioned by Eni for the Offshore Area 1 block development in the Bay of Campeche offshore Mexico. The charter contract runs initially for 15 years, with options thereafter for annual extensions for up to five additional years. The vessel, moored in 32 m (105 ft)... Continue Reading →
(Bloomberg) — Some oil and gas dealmakers are hitting the pause button as prices whipsaw following the ban on Russian oil imports. Companies are concerned about overpaying for assets while focused on cutting debt and rewarding shareholders. For example, the owners of Sequitur Energy Resources are holding onto 83,000 net acres in part of the... Continue Reading →
Guyana-focused oil companies Frontera Energy Corporation and CGX Energy, joint venture partners in the Corentyne block offshore Guyana, said Friday they'd entered into a $35 million loan deal that will enable CGX to continue to finance part of its share of costs related to the Corentyne Block, the Berbice Deepwater Port, and other budgeted costs... Continue Reading →
(Reuters) - Norwegian energy giant Equinor (EQNR.OL) has stopped trading Russian oil as part of its plan to wind down its operations in Russia in the wake of the invasion of Ukraine, Chief Executive Anders Opedal told Reuters on Thursday. Equinor joins other major oil and gas traders including Shell (SHEL.L), BP and France's TotalEnergies(TTEF.PA)in its decision to... Continue Reading →
The deadline for companies registered in the Permanent Offer to present additional offer guarantees for sectors of blocks included in the 3rd Bidding Cycle, which will be carried out under the concession regime, ends next Monday (3/14). The areas that are included in the 3rd Cycle are located in the Espírito Santo, Pelotas, Potiguar, Recôncavo,... Continue Reading →
Vallourec was contracted by OneSubsea to supply pipes and connections for the subsea system in the Bacalhau field, in the pre-salt layer of the Santos Basin. The area is at a water depth of 2,050 meters and is operated by Equinor. The products that will be delivered by Vallourec under this contract will be produced... Continue Reading →
(Offshore Energy) In light of Russia’s attack on Ukraine, the European Commission has proposed an outline of a plan, which is supposed to make European Union member states independent from Russian fossil fuels well before 2030, starting with gas. This could reduce Europe’s demand for Russian gas by two-thirds before the end of the year.... 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 →
(Reuters) - Shell (SHEL.L) faces further writedowns from exiting Russia over the country's invasion of Ukraine, it said on Thursday, flagging that it had $0.4 billion in Russian downstream assets as well as the $3 billion in other projects announced previously. The oil major announced on Feb. 28 that it would quit its ventures in Russia with... 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 →
Brazil Energy Insight 