Petrobras is planning to present a $7bn sales and purchase agreement (SPA) agreement for the divestment of a 90% stake in Transportadora Associada de Gas (TAG) by the end of this year.
TAG is a subsidiary of Petrobras, which operates 4,500km of natural gas pipeline located in the north and northeast regions of Brazil, as well as holds 26% of the country’s total gas transportation capacity.
The divestment is part of Petrobras’ plans to focus on its deepwater oil and gas exploration and production assets.
Buru Energy and Rey Resources have individually entered two agreements with Diamond Resources (Bardwire) to acquire interests in two onshore petroleum exploration permits in Canning Basin, Western Australia.
Through its subsidiary Buru Fitzory, Buru Energy will acquire interests in exploration permits EP 457 and EP 458 for $720,000. Buru Fitzroy’s stake in each field will increase from 37.5% to 60%, following the transaction.
Rey Resources will acquire the stake via its subsidiary Rey Oil and Gas. The company’s stake will increase from 25% to 40%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBuru Energy and Rey Resources are both Australia-based oil and gas exploration and production companies.
Tokyo Gas and First Gen have entered a co-development and operation agreement for an LNG-receiving terminal in Philippines.
Tokyo Gas will acquire a 20% stake in the receiving terminal, which will be developed at First Gen-operated LNG complex in the Batangas province.
A subsidiary of Lopez Group, First Gen is a power generation and distribution company, while Tokyo Gas is a natural gas provider based in Japan.
China ZhenHua Oil subsidiary North Petroleum International Company has purchased a 4% interest in an onshore oil concession in the UAE.
The concession is owned by a special consortium named ADNOC Onshore, which comprises Abu Dhabi National Oil Company (ADNOC, 60%), BP (10%), Total (10%), China National Petroleum (CNPC) (8%), Inpex (5%), and GS Energy (3%).
The concession consists of 14 oilfields situated in the Rub’ al Khali Basin and is expected to produce two million barrels of oil a year over a period of four years.
China ZhenHua Oil is an oil and gas exploration and production subsidiary of defence firm Norinco, while ADNOC is the UAE-based oil company.
Tellurian Trading UK has signed a 15-year memorandum of understanding (MoU) with Vitol for supplying 1.5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the proposed Driftwood LNG export terminal in Louisiana, US.
Driftwood LNG export terminal is being constructed by Bechtel with a capacity to export 27.6Mtpa of LNG. It is expected to commence operations in 2023.
Tellurian Trading will supply the LNG to Vitol according to its offtake capacity from the terminal, which will be finalised once the sales and purchase agreement is signed between the companies.
The deal will help both the companies to strengthen their position in the natural gas markets.
Tellurian Trading UK is a natural gas trading company, while Vitol is a Swiss energy and commodity trading company.
Bechtel is a US-based engineering, procurement, construction and project management company.
