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Canadian oil and gas companies Frontera Energy and CGX Energy have entered into a term sheet for a $19 million loan that will enable CGX to continue to finance its share of costs related to the Corentyne, Demerara, and Berbice blocks off Guyana. Frontera said that the loan would also allow CGX to further finance... Continue Reading →
(Reuters) French bank Natixis said it plans to stop financing the trading of Ecuadorian crude oil by 2022, after pressure from campaigners over the trade's links to environmental damage in the Amazon. The role of European banks in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon... Continue Reading →
Canada-based offshore robotics company Kraken Robotics has acquired Brazil's 13 Robotics Ltda of Brazil (“13R”). The 13R team, with offices in Rio de Janeiro and Salvador, Brazil, consists of software developers and engineers who have significant experience in underwater robotics and autonomous systems for the energy markets, Kraken said. "Since inception in 2013, 13R have... Continue Reading →
Singapore's Keppel Corporation has confirmed it has been in talks with the Brazilian oil company Petrobras to built an FPSO vessel for the Buzios field offshore Brazil. In a statement on Friday, responding to an article by Upstream Daily News, Keppel Corp. said: "The company wishes to confirm that its wholly-owned subsidiary, Keppel Shipyard Limited,... Continue Reading →
The Petrobras (40%), CNODC (20%) and BP (40%) consortium returned to ANP the sharing contract for the Peroba exploratory block, which was won in the 3rd pre-salt auction, held in 2017. The area is the first failure of the production sharing auctions, which were resumed under the Michel Temer government after the end of Petrobras'... Continue Reading →
In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral. While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller... Continue Reading →
Offshore drilling contractor Noble Corporation has completed the acquisition of Pacific Drilling. Noble Corporation said Friday the Pacific Drilling hi-spec ultra-deepwater drillship fleet would further enhance Noble's global position "as an owner and operator of one of the most modern and technically advanced fleets in the offshore drilling industry." Robert Eifler, President, and Chief Executive... Continue Reading →
(Reuters) A majority of Brazil's Supreme Court confirmed on Thursday a decision to annul criminal convictions against former President Luiz Inacio Lula da Silva, teeing up a presidential run against current President Jair Bolsonaro in 2022. The decision, which was widely expected, came after Supreme Court Justice Edson Fachin determined in early March that the... Continue Reading →
(Reuters) Global commodities trader Trafigura (TRAFGF.UL) has agreed to buy Angolan state oil giant Sonangol's 31.78% stake in loss-making Puma Energy for $600 million in a step towards raising its holding to more than 90%. Trafigura and Puma said in a joint statement on Friday that Puma had also agreed to sell its Angolan business... Continue Reading →
Shell evaluates the results of the exploratory campaign on Saturno, in the Santos Basin pre-salt and does not have a definitive position for the project. According to the company's president in Brazil, André Araújo, it is too early to talk about returning the block. Shell is the operator of Saturn with 45% of the block,... Continue Reading →
