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(Reuters) - After reporting a smaller than expected drop in second-quarter net profit, Italian energy group Eni promised to accelerate its share buyback and hinted at the possibility of nudging it up in the coming months. A stronger than anticipated performance at the group's upstream and Gas & LNG divisions supported results, while actions to streamline... Continue Reading →
(OE) TotalEnergies has signed an agreement to acquire a 60% interest and operatorship in Block STP02, offshore Sao Tome and Principe, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP). The remaining interest will be held by the existing license holders, Sonangol (30%) and ANP-STP (10%). Located within an emerging basin, 60... Continue Reading →
(Reuters) - U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews. The share buybacks and dividends are needed to lure investors back... Continue Reading →
(OE) Despite unprecedented energy challenges, 68% of oil and gas industry leaders have expressed optimism for sector growth in the coming year, according to the most recent survey by DNV. The latest DNV survey, The Paradox of Petroleum - How the oil and gas sector is transforming through uncertainty, gathered insights from nearly 450 senior oil... Continue Reading →
Oil major Chevron and Equatorial Guinea’s state-owned oil company GEPetrol have signed two production sharing contracts (PSCs), for offshore blocks EG-06 and EG-11 in Equatorial Guinea, representing a $2 billion investment. Situated in close proximity to producing Block B which houses the Zafiro field, the blocks are considered to be highly-prospective and are poised to... Continue Reading →
(Offshore-energy.biz) While the search for hydrocarbons has been ongoing in certain parts of Africa for decades with varying degrees of success, a slew of new oil and gas discoveries has pushed the continent to the forefront of global exploration hotspots. Given its string of recent discoveries, one of the countries in West Africa, Cote d’Ivoire,... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has selected a consortium led by PetroRio SA for bilateral talks over the sale of its Albacora and Albacora Leste offshore oil fields, both companies said on Friday. The value of PetroRio's bids was not immediately clear, but Petrobras said in September that "the offers may exceed $4 billion... Continue Reading →
(PN) PRIO released its operational data for May this week. The company recorded a production of 88.7 thousand barrels per day of oil equivalent, which represents a drop of 4.4% compared to the previous month's result (92.7 thousand barrels per day).(PN) According to the company, the Frade field had its production impacted due to the... Continue Reading →
(PN) Enauta is close to completing the anchoring of the new FPSO for the Atlanta field, in the Santos Basin. In parallel, the latest subsea equipment for the first oil from the new production system has already been installed. The company is working on the final preparations to start operating the field's Definitive System, through... Continue Reading →
(PN) PetroReconcavo signed a contract to sell 50% of its stake in seven concessions to Mandacaru Energia (Ubuntu). The assets (Acauã, Baixa do Algodão, Fazenda Curral, Fazenda Malaquias, Pajeú, Rio Mossoró and Três Marias) are located in the Potiguar Basin, in the state of Rio Grande do Norte. The fields currently produce 390 barrels of... Continue Reading →
Brazil Energy Insight 