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French energy major Total said on Thursday that it had reached an agreement with renewables energy developer Simply Blue Energy to acquire 80% of the Erebus floating wind project in the Celtic Sea. Total, which did not disclose the value of the deal, has said it plans to invest up to $2 billion annually to... Continue Reading →
March 18, 2020 Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance updates its shareholders and the market in general on the ongoing initiatives to protect its employees and stakeholders, given the current market uncertainties and volatility stemming from the new coronavirus outbreak and recent drop in Brent oil prices.... Continue Reading →
March 18, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 01/15/2020, announces the beginning of the binding phase regarding the sale of its entire interest in two sets of offshore concessions, called Golfinho Cluster and Camarupim Cluster, located in deep waters, in the Espírito Santo Basin, in Espírito Santo state. Qualified... Continue Reading →
Lankhorst Offshore reports it has been awarded a contract by SBM Offshore to supply the deepwater mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana, South America. This follows the deployment of Lankhorst mooring lines for the Liza Destiny FPSO mooring system also in the... Continue Reading →
Oil and gas company BW Energy, with assets in Gabon and Brazil, has decided to cut down its planned Gabon investments by 50 percent, citing coronavirus outbreak, oil price uncertainty, and restriction on international travel. "The impact of international travel restrictions is limiting the Company’s ability to move essential personnel, subcontractors and equipment to and... Continue Reading →
The recent collapse in oil prices could chop $300 million to $600 million off 2020 exploration budgets in Brazil, which has emerged as one of the world’s hottest offshore oil plays, specialists at consultancy Wood Mackenzie told Reuters. Before oil prices collapsed in the wake of failed OPEC talks earlier this month, the consultancy had... Continue Reading →
BP can slash its spending by 20% this year as the oil market goes into freefall, with some U.S. operations likely to get less investment. The London-based oil major’s shares have fallen more than 30% since the OPEC+ alliance broke down after a showdown between Saudi Arabia and Russia, triggering a price war as the... Continue Reading →
Hess on Tuesday announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3 billion. The company also announced a new $1 billion three-year term loan agreement. These actions further strengthen the company’s cash position and financial liquidity in response to the sharp decline in... Continue Reading →
March 17, 2020 Oil company is hiring data acquisition company to carry out the activity in the Santos Basin Shell submitted a 3D seismic research project to Ibama to obtain exclusive data on the Saturno block, in the Santos Basin. The campaign will last 180 days and is scheduled for July 2021. The work will... Continue Reading →
March 17, 2020 With ANP approval, the British operator will collect new seismic data in the block located in the Santos pre-salt The ANP approved the first revision of the exploration plan for the Pau Brasil area, aquired by BP Energy in the 5th Production Sharing Round, in 2018. According to the regulatory agency, the... Continue Reading →
Brazil Energy Insight 