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Daewoo bags $455 million Mozambique LNG construction award

December 30, 2020
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Daewoo Engineering & Construction (E&C) out of South Korea has won an LNG plant construction project in Mozambique valued at 500 billion won (over $455 million). The Total-led project in Mozambique LNG Area 1 involves building two liquefaction trains and auxiliary facilities with an annual production capacity of 64 million tons at the Afungi Industrial Complex in Mozambique.

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ExxonMobil and Seadrill ready the Saturn for operations in Campos and Santos Basin

December 30, 2020
| Archives

ExxonMobil will start a new exploration campaign on the Brazilian coast. The company received the endorsement from Ibama (Brazilian Environmental Institute) to drill wells in blocks BM-C-753, BM-C-789, BM-S-536, BM-S-647 and Titã, located in the Campos basins and Santos. The license granted by the environmental agency will last for four years. With the authorization in hand, ExxonMobil will be able

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Vitol hands over $45 million in corruption settlement to Petrobras

December 30, 2020
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Brazilian state-run oil company Petrobras said that it had received 232.6 million reais ($44.65 million) on Tuesday in a settlement with Swiss energy trading firm Vitol, which was implicated in a sprawling national corruption probe. Petroleo Brasileiro SA, as Petrobras is formally known, said in a security filing that the settlement was brokered as part of a leniency

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Petrobras claiming over $152 million in arbitration against Odebrecht

December 29, 2020
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Petrobras informs that it presented today a request for arbitration with an indemnity claim estimated at approximately R$ 800 million, against Odebrecht S.A., based on the shareholders' agreement regarding Braskem, for violations of its terms. Braskem is not part of this arbitration, which is protected by confidentiality. Source: Marketscreener Join our mailing list here

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A Look Back at the Top 10 Articles of 2020

December 29, 2020
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Listen to "Overtime - Special Broadcast - Look back on 2020" on Spreaker. A Look Back at the Top 10 Articles of 2020 2020 has been a difficult year personally and professionally for many in the industry but we are optimistic going into 2021 as the world comes to grips with COVID-19 and continues to put in place plans and

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Shell Buys 50% Stake in Natural Gas Blocks from Colombia Ecopetrol

December 28, 2020
| Archives

Ecopetrol S.A. hereby informs that it consummated the transaction with Shell previously announced to the market on February 7, 2020, by which Shell, through its subsidiary Shell EP Offshore Ventures Limited ("Shell"), acquired a 50% stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in the Colombian Caribbean deep water, where a new gas province

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Reliance talks buy out of IMG Worldwide LLC for $7 million

December 28, 2020
| Archives

Indian shares hit a record high on Monday, led by gains in Reliance Industries Ltd and HDFC Bank Ltd, while U.S. President Donald Trump’s approval of a pandemic relief package aided risk sentiment globally. The NSE Nifty 50 index was up 0.68% at 13,842.45 by 0447 GMT, while the S&P BSE Sensex was 0.61% higher at 47,261.09. Both

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UAE sets up supreme council to oversee petroleum and natural resources

December 28, 2020
| Archives

United Arab Emirates President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources. The current Supreme Petroleum Council, which regulates petroleum-related policies, will be merged with this new council, the Abu Dhabi

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