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(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Danish offshore drilling contractor Maersk Drilling has won a contract with Karoon Energy Ltd for the semi-submersible rig Maersk Developer to perform well intervention on four wells at the Baúna field offshore Brazil. Karoon took over Bauna from Petrobras in November 2020. The contract for the Maersk Developer is expected to start in the first... Continue Reading →
Marine engineering and propulsion company Royston has said it has recently completed engine overhaul work onboard Stena Drilling's drillship Stena DrillMAX, ahead of the rig's departure for work in Guyana. "Work on the 228m length ‘Stena DrillMAX’ saw a 48,000 running hours service on a Wartsila W16V32 engine carried out by a team of engineers... Continue Reading →
Norwegian energy giant Equinor has informed, ahead of the 2021 Annual General Meeting, that starting in 2022 it will submit its energy transition plan for advisory vote to shareholders at its Annual General Meeting. Equinor said on Monday it will update the plan every three years for an advisory vote and progress on the plan... Continue Reading →
Canadian oil and gas companies Frontera Energy and CGX Energy have entered into a term sheet for a $19 million loan that will enable CGX to continue to finance its share of costs related to the Corentyne, Demerara, and Berbice blocks off Guyana. Frontera said that the loan would also allow CGX to further finance... Continue Reading →
The Petrobras (40%), CNODC (20%) and BP (40%) consortium returned to ANP the sharing contract for the Peroba exploratory block, which was won in the 3rd pre-salt auction, held in 2017. The area is the first failure of the production sharing auctions, which were resumed under the Michel Temer government after the end of Petrobras'... Continue Reading →
In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller... Continue Reading →
(Reuters) Global commodities trader Trafigura (TRAFGF.UL) has agreed to buy Angolan state oil giant Sonangol's 31.78% stake in loss-making Puma Energy for $600 million in a step towards raising its holding to more than 90%. Trafigura and Puma said in a joint statement on Friday that Puma had also agreed to sell its Angolan business... Continue Reading →
Shell evaluates the results of the exploratory campaign on Saturno, in the Santos Basin pre-salt and does not have a definitive position for the project. According to the company's president in Brazil, André Araújo, it is too early to talk about returning the block. Shell is the operator of Saturn with 45% of the block,... Continue Reading →
-(BUSINESS WIRE)--New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced the completion of its acquisition of Hygo Energy Transition Ltd. (“Hygo”), a 50-50 joint venture between Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), for 31,372,549 shares of NFE and $580... Continue Reading →
Brazil Energy Insight 