(Reuters) - Venezuela is close to approving a license for Shell (SHEL.L) and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said. The license could set in motion a long-running effort by Trinidad to boost... Continue Reading →
Suriname Proposes Exchange of $675M Bonds for Oil-linked Debt
(Reuters) Suriname offered late Monday to exchange $675 million of dollar bonds for new notes, the next step in negotiations after reaching a deal with its bondholders in May. The government offered holders of debt due in 2023 and 2026 to swap their notes for a new 10-year bond due July 15, 2033, with an annual interest rate... Continue Reading →
Petrobras clarifies the new FPSO project for the Barracuda and Caratinga fields
Regarding the new FPSO-type platform project for the Barracuda and Caratinga fields, Petrobras clarifies that the unit is one of six already planned within the Campos Basin Renewal Program. The first two FPSOs – Anita Garibaldi and Anna Nery – started oil production in 2023. Within Petrobras' governance, in stages of project maturity evolution, it... Continue Reading →
Petrobras on Jubarte agreement with ANP
Petróleo Brasileiro S.A. – Petrobras informs that the National Petroleum Agency (ANP) approved, on April 14, 2023, a proposal for an agreement between the ANP and Petrobras for the termination of the lawsuit and all pending issues involving the updating of the physical-chemical characteristics of the Jubarte Current and its impact on the recalculation of... Continue Reading →
Brazil: Development of the Production Sharing contracts may require 21 FPSOs by 2029
(epbr) The development of the 18 production sharing contracts currently contracted may require the contracting of 21 production platforms (FPSOs) of up to 225 thousand barrels/per day of capacity by 2029, estimates Pré-Sal Petróleo (PPSA). — Investments in production development are estimated at US$ 72.4 billion between 2023 and 2032, which include everything from the... Continue Reading →
Guyana launches tender for new agent to sell its crude exports
(Reuters) - Guyana has launched a tender to choose a marketing agent for its share of Liza crude oil exports, the Natural Resources ministry said on Thursday, following the expiration of a contract with a unit of Saudi Aramco (2222.SE). A consortium by U.S. companies Exxon Mobil Corp (XOM.N) and Hess Corp (HES.N) and China's CNOOC (0883.HK) is in charge of all... Continue Reading →
GE Can’t Make, Sell Haliade-X Offshore Wind Turbines in U.S. Over Patent Infringement
A Boston federal judge barred General Electric Co on Wednesday from making and selling its Haliade-X wind turbines in the United States, after a jury found in June that the turbines infringed a patent owned by rival Siemens Gamesa Renewable Energy A/S. U.S. District Judge William Young said Siemens Gamesa was entitled to the ban because it... Continue Reading →
Guyana Boosts Oil Profit Outlook for 2022 by 30%
(Reuters) Guyana could bank about $1.25 billion this year from the sale of oil as its share of offshore production and royalties, up 30% from a prior estimate, the government's finance ministry said over the weekend. Historically one of South America's poorest nations, Guyana this year expects proceeds from oil discoveries off its coast to jump on... Continue Reading →
Petrobras signs SIX royalty agreement with the ANP
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 10/22/21, informs that it signed an agreement today with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) relating to the collection of royalties on the operation of the Shale Industrialization Unit (SIX), located in São Mateus do Sul, state of Paraná,... Continue Reading →
Namibia Launches Sovereign Wealth Fund after Offshore Oil Finds Made by TotalEnergies, Shell
Namibia on Thursday launched a sovereign wealth fund, months after oil discoveries by TotalEnergies and Shell off its coast. President Hage Geingob said at the launch the Welwitschia Fund would get an initial injection of 262 million Namibian dollars ($16.15 million) and invest 2.5% of its portfolio locally to bridge the country's infrastructure financing gap.... Continue Reading →