As Guyana has just become an oil-producing country with ExxonMobil reaching first oil at the Liza field over the last weekend, oil major Total is hoping to replicate the achievement in nearby Suriname. The French company has signed a deal with Apache Corporation to acquire a 50% working interest and operatorship in “the highly prospective Block... Continue Reading →
Ibama denies license for project Petrobras is selling in Pelotas
December 20, 2019 Ibama denied Petrobras' request to drill an exploratory well in block area BM-P-2 in the Pelotas Basin. The environmental agency recently closed the licensing process, due to technical uncertainties that were not clarified by Petrobras. Petrobras and Total trying to sell the asset. The teaser, which marks the start of the sale,... Continue Reading →
Solstad secures new jobs for its vessels
Norwegian vessel owner Solstad Offshore has signed contracts for several of its vessels for work in the North Sea, New Zealand, Papua New Guinea, and Brazil. Solstad said on Friday that TechnipFMC had extended the present frame agreement with Solstad for ploughing/trenching duties in the North Sea by one year. As part of the extension,... Continue Reading →
Oil boom begins in Guyana as Exxon lifts first Liza crude
Exxon Mobil and its partners lifted the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues. Exxon has a 45% share in the Guyana project, while Hess Corp. has 30% and China’s CNOOC Ltd. 25%. Output from the first phase of the offshore... Continue Reading →
BLACK TIDE: A dense sludge of crude oil has been devastating Brazil’s beaches for at least three months, and its origin remains unknown by authorities and experts.
For the past three months, thick crude oil blobs have washed up on beaches along more than 4,400 kilometers (2,700 miles) of Brazil’s coastline, mangroves and reefs in the worst oil spill in the country’s history. The exact date the oil first reached Brazil’s shores is unclear, but government reports point to August 30. As... Continue Reading →
Petrobras on strategy to exit the biofuels segment
20/12/2019 Petrobras reports on divestments in the biofuels segment. The company guideline to exit this segment, announced in 2016, accelerated in 2019 and four important transactions were carried out this year: - Sale of stake in Belem Bioenergia Brazil (BBB) - Petrobras Biocombustível S.A. (PBio), a Petrobras subsidiary, has completed the sale of 50% of... Continue Reading →
Petrobras starts binding phase of Regap
20/12/2019 Petrobras, following up on the release dated on October 4, 2019 informs the beginning of the binding phase related to the sale of Gabriel Passos Refinery (REGAP) in Minas Gerais, with its corresponding logistical assets. Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including... Continue Reading →
Petrobras approves agreement with Sete Brasil
Dec 20, 2019 The Executive Board and Board of Directors of Petrobras have approved the final terms of an agreement with Sete Brasil (the “Agreement”) subject to the fulfillment of precedent conditions. The Agreement preserves the terms previously announced: (i) maintenance of charter and operation contracts regarding four drilling rigs, with 10-year terms and daily... Continue Reading →
Petrobras discloses teaser for PBio’s sale of BSBios
December 20, 2019 Petróleo Brasileiro S.A. - Petrobras reports that its wholly owned subsidiary Petrobras Biocombustíveis S.A. (PBio) has started the opportunity disclosure phase (teaser) related to the joint sale of all its shares in BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (“BSBios”). PBio holds a 50% stake in BSBios and will sell... Continue Reading →
Equinor increases its ownership in Scatec Solar
The purchase price per share is NOK 116 which compares to the closing price on 19 December of NOK 110.5 and to Scatec Solar’s equity issuance price on 24 September of NOK 116. Following the transaction Equinor owns a total of 18,965,400 shares of Scatec Solar, raising its total shareholding to 15.2 percent of the... Continue Reading →
