(TW) Keppel Corp might be looking to exit the offshore market, but it is not stopping the company from trying to hook offshore contracts from Petrobras worth up to SGD 8bn ($5.8bn). The Singapore-listed company said Wednesday that it was is in advanced discussions with the Brazil oil major for the P-80 floating production storage... Continue Reading →
Q2 Challenging for USA Upstream Merger Activity
(Rigzone) Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. That’s what Enverus Intelligence Research (EIR) stated in its summary of 2Q 2022 U.S. upstream M&A activity, which highlighted that, despite the challenge, about $12 billion was transacted “as numerous private equity (PE) firms brought their investments... Continue Reading →
Drilling In South America Set To Peak During 2022
(Rigzone) Drilling and completion activity in South America is expected to peak this year after a significant slowdown in 2020 due to the global demand destruction brought on by the Covid-19 pandemic, Rystad Energy claimed. According to Rystad, the rebound is more pronounced for offshore wells, primarily driven by an uptick in activity in Brazil... Continue Reading →
Petrobras on gas discovery in Colombia
Petróleo Brasileiro S.A. - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off the coast and 76 kilometers from the city of Santa Marta, in a water depth of approximately 830 meters. The Uchuva-1 well was drilled in the Tayrona Block, with... Continue Reading →
Congo oil blocks auction draws warnings of environmental catastrophe
(Reuters) - Licensing rights for 30 oil and gas blocks in the Democratic Republic of Congo went up for auction on Thursday, opening parts of the world's second-biggest rainforest to drilling that could release large amounts of carbon into the atmosphere, jeopardising climate goals to tame global warming. President Felix Tshisekedi presided over the launch... Continue Reading →
Eni lifts investor rewards after net profit jumps
(Reuters) - Italian energy group Eni (ENI.MI) on Friday doubled its share buyback plan for this year and approved a new share purchase programme for 2023 after reporting a jump in profits in the second quarter on the back of soaring oil prices. Eni's move follows similar action by Shell (SHEL.L) and TotalEnergies (TTEF.PA), which extended share buybacks on Thursday... Continue Reading →
TotalEnergies FIDs £850 Million Angolan Tieback
TotalEnergies has made a final investment on the $850 million Begonia project in Block 21, Angola. The project is the first development of block 17/06, 150 kilometers off the Angolan coast, in agreement with concession holder Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) and its partners on Block 17/06. The Begonia development will consist... Continue Reading →
Subsea 7 2Q22 profit up in spite of offshore wind challenges
Subsea 7 has reported a revenue of $2.4 billion for the first half of 2022, an increase of $247 million or 11% compared to the first six months of 2021, driven by the Subsea and Conventional business unit and partly offset by lower revenue in the Renewables unit. Revenue of the Subsea and Conventional unit... Continue Reading →
Utility Engie prepared for less Russian gas as profits surge
(Reuters) - French utility Engie (ENGIE.PA) said on Friday it was well prepared for a reduction in deliveries of Russian gas, as its first-half profits surged on the back of higher energy prices. Engie added it was working with the Belgian government on possibly extending operations at two nuclear units. Russia's invasion of Ukraine has thrown the... Continue Reading →
Chevron posts 2Q22 record profit
(Reuters) - Chevron Corp (CVX.N)posted its biggest quarterly earnings ever on Friday, built on strong fuel margins and high prices for natural gas and oil, and boosted its share buyback target. The oil major posted second-quarter net profit of $11.6 billion, or $5.95 per diluted share, more than triple the $3.1 billion, or $1.60 per share,... Continue Reading →
Brazil Energy Insight 