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(OET) Namibia’s Ministry of Mines and Energy has granted a second one-year extension for the Petroleum Exploration License 87 (PEL 87) located in the Orange Basin. Canada-based Sintana Energy reported on 21 December that Namibia’s Minister of Mines and Energy had granted a second one-year extension to the current, first four-year Initial Exploration Period associated... Continue Reading →
(Reuters) - Brazil's small- and medium-sized oil firms are set to invest some 40 billion reais ($7.74 billion) in onshore fields by 2029, according to a survey by the country's independent oil and gas producers association Abpip. The group, which includes companies such as Eneva (ENEV3.SA) and PetroReconcavo (RECV3.SA), aims to extend the lifespan of and increase production... Continue Reading →
(Reuters) - Caio Paes de Andrade, the chief executive of Brazil's state-run oil firm Petrobras (PETR4.SA), has decided to resign before his term ends in April, but has not yet set a date for his departure, six sources told Reuters. Andrade's early exit would provide a pathway for leftist President-elect Luiz Inacio Lula da Silva to... Continue Reading →
(OET) Twentsche Kabelfabriek (TKF) has started the construction of a new cable factory at the Beatrixhaven site in Eemshaven, the Netherlands. According to Groningen Seaports, TKF will use the new factory to produce subsea cables to connect wind turbines from offshore wind farms to power stations. The new facility will be complementing TKF’s existing production... Continue Reading →
(OET) Offshore drilling contractor Seadrill has entered into an agreement to acquire Aquadrill, formerly known as Seadrill Partners, in an all-stock transaction that values the UK firm at $958 million. Following completion, Seadrill shareholders and Aquadrill unitholders will respectively own 62 per cent and 38 per cent of the outstanding common shares in the company and Aquadrill will... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/12/2022, informs that its Executive Board approved adjustments to the competitive process for the sale of all of its 18.80% stake in UEG Araucária S.A. (UEGA), with the end of the current phase and the restart of the process. In this process, Petrobras... Continue Reading →
3R PETROLEUM ÓLEO E GÁS SA ("3R" or "Company") informs its investors and the market in general that, on December 22, 2022, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) approved the transfer of 62.5% stake in the concession rights over the Papa Terra production field (“Papa Terra Cluster” ), held by Petróleo... Continue Reading →
(Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva will appoint Senator Jean Paul Prates of his Workers Party to be the next chief executive of state-run oil company Petrobras (PETR4.SA), a member of his transition team said on Thursday. Deyvid Bacelar, the head of oil workers' union FUP, revealed Lula's choice on social media minutes... Continue Reading →
Marubeni said Thursday it had started commercial operation at the Noshiro Port offshore wind farm in Japan on December 22, 2022, based on the feed-in tariff program for renewable energy. Marubeni Corporation has been implementing this first utility-scale offshore wind power project in Japan at Akita Port and Noshiro Port in Akita Prefecture, through the... Continue Reading →
Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a Floating Liquefied Natural Gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo. The 380-meter-long and 60-meter-wide vessel will be anchored at... Continue Reading →
Brazil Energy Insight 