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(Reuters) - Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts. Acquisitions of new onshore and offshore exploration licences for the top five Western energy giants dropped to the lowest in at least five... Continue Reading →
Subsea 7 has won a contract from Cabinda Gulf Oil Company (CABGOC) for the Sanha Lean Gas Connection (SLGC) project offshore Angola. Specifically, the project comprises the construction and installation of the Lean Gas Platform (LGP) system in Block-0 off Angola. It takes place at a water depth of approximately 70 metres. Project management and... Continue Reading →
Petro Rio S.A. ("Company" or "PetroRio") (B3: PRIO3), in accordance with art. 26 of the Novo Mercado Regulation, and in addition to the Material Fact of November 28, 2019, informs its shareholders that the country’s National Petroleum, Gas and Biofuels Agency (“ANP”) has approved the concession of the 30% interest in Frade Field, currently held... Continue Reading →
The United Kingdom, Kuwait, Canada, United States, Colombia top energy intelligence firm Rystad's list of countries that offer the best fiscal conditions for the development of large offshore oil fields. After what has been described as a disappointing year for offshore sanctioning, Rystad expects offshore sanctioning to rebound to at least $56 billion in 2021... Continue Reading →
(CNN Business)The deep-sea oil and gas industry has a vast and costly infrastructure to maintain. Wells, other equipment, and thousands of kilometers of pipeline must be installed, inspected and repaired. Now, cutting-edge underwater drones and robots are being developed that could make the work safer, cheaper and less polluting. Among them is Eelume, a six-meter-long,... Continue Reading →
(Reuters) - Colombia’s majority state-owned oil company Ecopetrol has sold its 50% stake in Offshore International Group (OIG) via a share purchase agreement with a subsidiary of De Jong Capital LLC, it said on Tuesday. The divestment follows a successful bidding process carried out by Ecopetrol and its partner Korea National Oil Corporation with a... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, regarding the news published in the media on the divestments progress of the refineries, clarifies: (i) the company has received a binding proposal for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, and is in the negotiation phase with Ultrapar Participações S.A.; (ii) the company has... Continue Reading →
(Reuters) Brazilian group Ultrapar Participacoes SA offered the highest price for Petrobras’ refinery Refap and is leading talks to acquire the facility in the southern state of Rio Grande do Sul, three people close to the matter said. Brazil has been trying sell eight refineries, which would end Petrobras’s virtual monopoly in the country’s refining... Continue Reading →
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), in compliance with the provisions of article 157, paragraph 4 of Law No. 6,406, of December 15, 1976, as amended (“Corporations Law”), Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários) (“CVM”) Rule No. 358, dated January 3, 2002, as amended, and CVM Rule No. 476, dated January 16, 2009,... Continue Reading →
(Bloomberg) -- Investment firms including Oaktree Capital Management and BlackRock Inc. are organizing into two groups to negotiate with YPF SA after the Argentine oil producer proposed a debt swap that would saddle them with losses, according to people familiar with the matter. BlackRock is among a consortium of experienced emerging-market investors such as Ashmore... Continue Reading →
Brazil Energy Insight 