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(Reuters) - Dealmaking in the U.S. oil and gas industry surged fourfold in value in the first quarter, even as Russia's invasion of Ukraine poured cold water on M&A activity in March, according to consultancy Enverus. Oil producers struck deals worth $14 billion in the first three months, compared with $3.4 billion last year. Of... Continue Reading →
(Reuters) - Major global trading houses are planning to reduce crude and fuel purchases from Russia's state-controlled oil companies as early as May 15, sources said, to avoid falling foul of European Union sanctions on Russia. The EU has not imposed a ban on imports of Russian oil in response to Russia's invasion of Ukraine,... Continue Reading →
(Reuters) - Brazilian fuel distributor Vibra Energia SA (VBBR3.SA) has tapped an existing partnership with Brasil BioFuels (BBF) to move into producing and selling palm oil-based jet fuel as it looks to take another step in the energy transition. Vibra, formerly known as Petrobras Distribuidora SA, has agreed to sell aviation fuel to be produced at BBF's... Continue Reading →
(Reuters) - Prices for wind and solar power in major global markets have climbed nearly 30% in a year as developers have struggled with chaotic supply chains and surging costs for everything from shipping to parts to labor, according to a report published on Wednesday. Contract prices for renewables jumped 28.5% in North America and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras following up on the release disclosed on 04/06/2022, informs that, as per the respective minutes already disclosed, the People Committee, in its role as Eligibility Committee (COPE/CELEG), which is responsible for advising shareholders on verifying the conformity of the nomination process for members of the Board of Directors of Petrobras,... Continue Reading →
(PE) Angolan NOC selects preferred bidders—with exclusive acquisition rights—to buy partial stakes in six blocks, four of which are already in production Angola’s Sonangol called last year for bids on portions of its equity shares in various blocks and has been evaluating the results since September. The NOC has now selected preferred bidders for its... Continue Reading →
(Reuters) - China's top offshore oil and gas producer CNOOC Ltd. (0883.HK) is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long been strained by trade and human rights issues... Continue Reading →
(Reuters) - Stockholm-based Maha Energy AB (MAHAa.ST) remains interested in purchasing Petrobras' stake in the Tartaruga oil field in northeastern Brazil after the company's first attempt at buying the asset was unsuccessful, Victoria Berg, the company's investor relations officer, told Reuters in an e-mail on Tuesday. Petroleo Brasileiro SA (PETR4.SA), as the state-run oil company is formally known,... Continue Reading →
(TE) MISC Bhd’s maiden foray into the deep-water floating production, storage and offloading (FPSO) segment of the oil and gas (O&G) industry in Brazil will be closely watched this year. According to S&P Global Ratings, any potential delays and cost overruns on the Mero 3 FPSO project could weigh on its credit rating in the... Continue Reading →
(Offshore Energy) Japan’s FPSO provider MODEC has hired Inprocess, a Spain-headquartered process simulation services and consulting company, for the provision of a new Emulated Operator Training Simulator (OTS) solution for a floating production storage and offloading (FPSO) vessel bound for Brazil. Inprocess reported last Friday that it had been awarded a deal for the development... Continue Reading →
Brazil Energy Insight 