Company Overview and News
A selloff in tech stocks and a crucial U.S. tax legislation dominated proceedings for Europe’s bourses last week. Asia’s stocks remained mixed even as investors largely ignored North Korea’s latest missile launch. Concerns surrounding pension reforms continued to weigh on Brazil’s stocks while Chile’s investors remained apprehensive about upcoming presidential elections. Tech Selloff Weighs on Europe’s Stocks, Investors Focus on U. (136-0)
Benchmarks turned in mixed performances on Monday as the rally in retail stocks earlier in the session petered out. Moreover, energy shares declined after oil prices fell as investors speculated that the production-cut deal would be extended by OPEC in the meeting slated for this week. Nevertheless, investors remained hopeful of a likely cut in corporate taxes and this boosted the investor sentiment. (80-0)
A cloud of uncertainty looms over Brazilian energy giant Petroleo Brasileiro S.A. or Petrobras’ (PBR - Free Report) divestment agreement with France-based TOTAL S.A. (TOT - Free Report) . The Brazilian federal court has put a partial hold on the $2.2-billion deal signed in March. (52-0)
Statoil ASA’s (STO - Free Report) subsidiary Statoil Brasil Oleo e Gas Ltda has awarded rig contracts to Seadrill Ltd (SDRL - Free Report) for exploration drilling in the BM-S-8 license located in the Santos basin. The agreement comprises two contracts, wherein Seadrill Offshore AS will supply the drillship West Saturn, and Seadrill Serviços de Petroleo Limitada will offer services on board. As part of the license commitments of the exploration phase, the fixed contract scope consists of one exploration well and one drill stem test.
Offshore drilling contractor SeaDrill Limited (SDRL - Free Report) was recently awarded a contract by Statoil Brasil Óleo e Gas, a unit of integrated energy player Statoil ASA (STO - Free Report) , for SeaDrill’s drillship, West Saturn, in the Statoil operated BM-S-8 license in Brazil’s prolific Santos basin.
The ASX 200 built on Thursday’s impressive gains to open 9.2 points to the good at 5,746, defying predictions that it would in fact lose ground.
Statoil ASA (STO - Free Report) and Queiroz Galvao Exploracao e Producao (QGEP) have inked an agreement wherein the former will purchase QGEP’s 10% interest in the BM-S-8 license located in Brazil’s Santos basin. The additional 10% equity will enhance Statoil’s operated interest in the license to 76% from 66%. The transaction is valued at $379 million. BM-S-8 comprises a considerable part of the Carcará discovery including high-quality oil of about 30° API.
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Norwegian integrated energy player Statoil ASA (STO - Free Report) intends to more than triple its oil and gas production in Brazil by 2030. The company remains focused on the development of pre-salt fields in the country.
Real Energy Corporation (ASX:RLE) has been granted a trading halt by the ASX, pending details of a capital raising.
Colombia, especially its Caribbean Coast, has been facing natural gas shortage at least since 2015. The market may stay tight over the next few years.
Norwegian company Statoil ASA (STO - Free Report) recently concluded the takeover of operatorship of Petrobras' 66% operated interest of the BM-S-8 offshore license in Brazil's highly prolific Santos basin. BM-S-8 includes a significant portion of the Carcará oil discovery, one of the largest discoveries in the world in recent years. Discovered in 2012, Carcará is located on the geological trend of the adjacent Lula field and Libra area.
Comet Ridge Ltd (ASX:COI) plans to raise $2 million to progress its 40% owned Maholo coal seam gas project located in Queensland’s Bowen Basin. The raising will consist of a $1 million placement priced at $0.05, which will be followed by a 1:25 rights issue to raise up to an additional $1.05 million. Tor McCaul, managing director, commented: “The funds raised will be used for working capital while the company finalises the appraisal programme for reserves upgrade at Mahalo prior to commencing development, whilst also progressing funding discussions for drilling on the Albany Structure in the Eastern Galilee Basin.
In a bid to further strengthen their existing relationship, Norwegian oil giant Statoil ASA (STO - Analyst Report) reportedly intends to help Brazilian state-controlled company Petrobras (PBR - Analyst Report) arrest deteriorating production at aging wells in the offshore Campos basin. In August, the parties inked a memorandum of understanding, which has been developed further to target aging wells.
Petrobras (NYSE:PBR) and Statoil (NYSE:STO) are expanding an existing partnership to help the Brazilian company stop declining production at aging wells in the offshore Campos Basin, Reuters reports.
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton