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3R Petroleum registered with the CVM the IPO request for shares on the Brazilian stock exchange. The objective is to raise funds for new acquisitions of oil fields in Brazil and to sustain investments in the revitalization of assets. Starboard, with a stake in the private equity fund Apollo, holds 52.3% of the capital of... Continue Reading →
As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and gas assets and costly drilling... Continue Reading →
Brazil’s lower house is set to vote on Tuesday to pass a bill that can further open up the natural gas market to private investors by breaking the monopoly held by state-controlled oil company Petroleo Brasileiro S.A. - Petrobras. If approved, the law could reduce natural gas prices in Brazil, says Congressman Laercio Oliveira, who... Continue Reading →
Aug 31, 2020 The National Energy Policy Council (CNPE) has confirmed the resumption of the auction schedule for oil and gas blocks in Brazil from 2021. One of these tenders will be the 17th Concession Round, the first in the country to offer six blocks beyond 200 nautical miles from the coast, in the Santos... Continue Reading →
Aug 28, 2020 The ANP board approved the development plan for the Maromba field, in the Campos Basin, in addition to the contractual extension of its production phase, for another 27 years, expiring in 2060. The asset is operated by BW Energy (95%) , in partnership with Magma Oil (5%). According to BW Energy's plans... Continue Reading →
August 27 , 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/06/2019, informs that it signed today with Karavan SPE Cricaré S.A., a Specific Purpose Entity (SPE), a contract for the sale of all of its stakes in 27 onshore exploration and production concessions , located in Espírito Santo, jointly... Continue Reading →
Exxon Mobil Corp is pressing Guyana's newly-installed government for approval of its third offshore oil project, which has been under a months-long review that coincided with political turmoil in the South American country. Exxon, which operates the Stabroek block as part of a consortium with Hess Corp and China's CNOOC Ltd has discovered more than... Continue Reading →
Africa's second-biggest oil exporter, Angola, has unveiled a 2020-2025 energy roadmap which foresees oil discoveries of up to 57 billion barrels of crude oil and 27 trillion cubic feet of gas, state news agency ANGOP reported. The plans involve $679 million in foreign investment and $188 million by the Angolan state, the agency reported late... Continue Reading →
August 26, 2020 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved, today, the proposal to sell its remaining 37.5% stake in the capital stock of Petrobras Distribuidora S.A. (BR), by means of a secondary public offering (follow-on). The moment of launching the offer will be defined later, and is subject, among... Continue Reading →
Exxon Mobil Corp is limiting output at its flagship offshore project in Guyana to 100,000 barrels-per-day (bpd) due to more issues with the reinjection of natural gas, the South American country's environmental regulator said on Friday. Exxon, which operates the Stabroek block in a consortium with Hess Corp and China's CNOOC Ltd, had initially planned... Continue Reading →
