China Merchants has bought a 70% stake in Vast Infraestrutura, Brazil’s only privately run VLCC terminal, located in the port of Açu in a deal worth up to $714m. China Merchants bought its stake in the oil terminal from US-based EIG Global Energy Partners, which has been developing the site for the past 10 years. […]
Continue ReadingA Venezuelan military ship was spotted in Guyana’s waters on Saturday morning sailing close to ExxonMobil’s producing FPSO claiming that the units were operating in “a disputed area”. In a national address, Guyana president Irfaan Ali revealed that the Venezuelan vessel, which entered Guyanese waters on Saturday morning, was part of its coast guard fleet. […]
Continue ReadingPetrobras is beefing up its offshore game, throwing four more support vessels into the mix by 2026—bringing the grand total to 48. Brazil’s state-run oil company is gearing up to boost production to 2 million barrels per day (bpd) at the Buzios field by 2030, cementing Brazil’s status as an offshore oil heavyweight. Petrobras has […]
Continue ReadingAustralian oil and gas player Karoon Energy has bought the Cidade de Itajaí FPSO for $115m from Altera & Ocyan, the joint venture formed by the Brazilian company Ocyan and Altera Infrastructure. The FPSO was bought by Karoon’s wholly-owned Brazilian subsidiary Karoon Petróleo & Gás. The deal also includes approximately $8m of transaction costs. The […]
Continue ReadingDaily Standup Top Stories Redrawing of global energy markets map set to heap benefits on US February 23, 2025 Clark Savage The prospects of peace and the return of Russian gas looks likely to serve the interests of Donald Trump The Kremlin’s invasion of Ukraine three years ago has reverberated through the global energy industry; unravelling Europe’s […] […]
Continue ReadingENB Pub Note: I had to change the title to \”Gulf of America\” as World Oil published with \”Gulf of Mexico\” – just trying to help. ConocoPhillips will sell its interests in the Gulf of America* Ursa and Europa fields to Shell for $735 million, both companies confirmed today. ConocoPhillips continues to work towards a […]
Continue ReadingConservation and environmentalist groups have sued US president Donald Trump and his administration over his order to roll back the ban on future oil and gas leasing. The court battle against Trump is a two-parter. Several organisations are collectively challenging the order by the US president to revoke Biden’s withdrawal of certain areas of the […]
Continue ReadingDaily Standup Top Stories Why China is Winning the Nuclear Energy Race February 17, 2025 Clark Savage China has significantly increased its nuclear energy capacity in the last decade, positioning it to become the world’s largest nuclear energy producer. China is actively developing and deploying advanced nuclear technologies, such as small modular […] EU gas imports from […]
Continue ReadingOffshore rig owners Arabian Drilling and Shelf Drilling have signed a memorandum of understanding to form a strategic alliance. Under the agreement, Shelf Drilling will seek to use some of Arabian Drilling’s high-specification jackup rigs to meet contract requirements. By combining resources, the alliance will be positioned to deliver services to customers and increase the […]
Continue Reading(Reuters) Chevron\’s oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance of the U.S. major\’s planned acquisition of oil producer Hess that has stalled due to a court battle with ExxonMobil. Reserve replacement is one of the key metrics for investors in energy companies, as it […]
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