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(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
(Reuters) - Top oilfield services company Schlumberger (SLB.N) on Wednesday said North American oil and gas activity was growing at a faster pace than expected, as customers have largely shrugged off concerns about a looming recession. Oil and gas producer customers were more concerned with securing equipment and operational performance than a sudden drop in oil prices... Continue Reading →
(Reuters) - Spanish energy group Repsol (REP.MC) is selling a 25% stake in its oil and gas exploration division to U.S. fund EIG for $4.8 billion, building up a warchest for renewables projects as the energy industry moves to a lower-carbon future. The deal, first reported by Reuters earlier this year, values the whole business at $19... Continue Reading →
Offshore drilling contractor Maersk Drilling has secured a contract extension with Shell, a UK-headquartered energy giant, for a 7th generation drillship, enabling it to carry out drilling services offshore Mexico once it completes its current assignment with this oil major. The rig owner revealed on Thursday that Shell has exercised an option to extend the... Continue Reading →
Denmark's Maersk Supply Service and renewable energy pioneer Stiesdal Offshore have entered into a strategic partnership to offer combined solutions to this fast-growing sector within floating offshore wind. The companies say they intend to combine their respective strengths to meet the significant expansion predicted for floating wind. Specifically, they will offer comprehensive and integrated engineering,... Continue Reading →
With the current energy crisis and clean energy transition taking centre stage, companies are shifting focus to lower-risk core assets and regions, thus, Rystad Energy, an energy intelligence group, forecasts that the global oil and gas exploration spending and activities are expected to shrink even further this year as the number of licensed blocks and total acreage fall... Continue Reading →
(epbr) Uruguay will test investors' appetite to develop green hydrogen projects in the South Atlantic by bidding for 10 offshore wind-generating blocks in the coming months. State-owned energy company Ancap plans to publish the bidding rules this year and choose winners in the second quarter of 2023, company president Alejandro Stipanicic said. He is optimistic... Continue Reading →
Offshore drilling contractor Transocean has secured two new contract awards in the Gulf of Mexico for one of its ultra-deepwater drillships. Transocean announced on Tuesday that the ultra-deepwater drillship, Deepwater Asgard, received two contract awards in the U.S. Gulf of Mexico for a total of approximately 14 months of work, adding $181 million to the firm... Continue Reading →
(Reuters) - Investors seeking clarity about the future of Brazil's fiscal policy from 2023 on must wait for the outcome of October's presidential election, said the chief investment officer of Credit Suisse (CSGN.S) for Latin America. "You have to wait for the definition of who is going to implement the policies next year to, in fact, be... Continue Reading →
(Reuters) Siemens Energy said on Tuesday it has a placed 960 million euro ($949.63 million) mandatory convertible bond to help fund its takeover bid for wind turbine maker Siemens Gamesa. It expects settlement of the notes to take place on or around Sept. 14, it said in a statement. "With the planned full integration of... Continue Reading →
