Stena Drilling Signs Contract with Nexen Petroleum
Offshore driller Stena Drilling has signed a contract with Nexen Petroleum U.K. Limited for the Stena Spey drilling rig. Stena said in a press release that the drilling campaign will last around 110 days with a potential additional option well on the Golden Eagle field, UK Central North Sea. The drilling campaign will commence on completion of the current well with Repsol-Sinopec. "Stena Drilling is very pleased to be working with Nexen Petroleum U.K. Limited and this workscope presents another exciting new opportunity for the Stena Spey and the crews," said a statement.
Pemex Selling 7.86% of Repsol Worth $3B
Mexico's national oil company Pemex is selling a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros ($3.0 billion) at current market prices, Citigroup and Deutsche Bank, the banks handling the sale, said on Tuesday. The sale, to be carried out through an accelerated book build, is nearly all of the Mexican firm's holding in Repsol, where it is the company's third largest shareholder with an 8.75 percent stake. Mexican government officials had opened the door to a Repsol stake sale in the past few weeks when Repsol appointed a chief executive officer whom Pemex had not backed. The sale comes before Mexican President Enrique Pena Nieto is due to make his first official visit to Spain on June 9-10.
Repsol Signs LNG Supply Deal
Repsol has signed a liquefied natural gas (LNG) supply agreement with South Korea's state-owned Korea Gas Corporation (KOGAS), boosting Repsol’s position as one of the world’s largest shippers of the fuel. The 15-month agreement, which took effect from January, will involve the shipment of 1.9 bcm of gas equivalent to Korea, equivalent to the annual supply of 1 million homes. Repsol will ship the LNG from the Peru LNG terminal, to which the company has the sole off-take rights. The deal, which is Repsol’s first LNG sale in the Far East adds to the company’s supply contracts in Europe and North- and South-America, reinforcing Repsol’s global position in liquefied natural gas marketing.
CNPC and Repsol Discuss Deal
According to Reuters, China National Petroleum Corp. (CNPC), the country's largest oil company, has offered to pay between $13.2 billion and $14.5 billion for a 75 percent stake in Spanish oil major Repsol's Argentine unit YPF, the South China Morning Post reported on Tuesday, citing sources. Executives from CNPC, the parent firm of Asian oil and gas producer PetroChina, has begun talks with Repsol over the offer, and the initial reaction from Repsol's board members has been receptive, the newspaper said. The bid is lower than the $17 billion offer that CNPC was prepared to make.
Repsol YPF Eyes LNG Joint Venture
Repsol YPF SA is studying the creation of a joint venture with Tambeyneftgaz and Anadarko for a liquified natural gas (LNG) project in the Yamal Peninsula. The project would transport gas to the west coast of Canada, where it would go through Repsol YPF's regasification plant at Canaport, to be later sold in the US. The company also plans to open an office in Moscow to support its growing business in Russia, to foster opportunities for new partnerships with some of the country's leading companies. Repsol YPF also maintains talks with Gazprom for other LNG projects. (Source: www.forbes.com)
Repsol To Sell Argentine Bonds To JP Morgan
Spanish oil major Repsol said on Tuesday it had agreed the sale of Argentine bonds to JP Morgan for $2.01 billion, the company's second sale of Argentine paper to the U.S investment bank in less than a week. The bonds were part of a $5 billion settlement with Argentina after the South American country expropriated Repsol's 51 percent stake in energy firm YPF in 2012. The nominal value of the bonds were $117.36 million, the company said in a statement, and the sale would have no effect on Repsol's financial results. Argentina's recognised debt with Repsol was reduced by $4.815 billion following the company's recent Argentine bond sales, the company said. (Reporting By Sonya Dowsett)
Repsol Expands N. American LNG Ops
Repsol YPF announced that it has signed agreements with M&NP for transportation service on a new pipeline system in Canada, as well as for a planned expansion of M&NP’s pipeline system in the United States, which will deliver volumes from the Canaport™ LNG import terminal to downstream markets. Under these agreements, Repsol YPF will be able to move its existing LNG supplies into the North American market. Repsol YPF announced in June that it had agreed with Irving Oil to form a new company, Canaport™ LNG, which will build, own and operate the Canaport™ LNG terminal in Saint John, New Brunswick. The terminal will initially be capable of delivering 1 BCFD of regassified LNG into the market. The Canaport™ LNG terminal is a key milestone in Repsol YPF’s strategy.
Pemex Repsol Stake Sale Would Not Be Bad Idea
Mexico's finance minister said on Thursday that if state oil giant Pemex opted to sell its 9.3 percent stake in Spanish peer Repsol, it would "not be a bad decision" because the money could be invested in Mexico. In an interview with Mexican radio, Finance Minister Luis Videgaray said Pemex's board would take the decision on whether to sell the stake in Repsol. "Irrespective of what the board decides, if the decision is to disinvest in a company like Repsol that operates outside of Mexico so as to get this capital and invest it in the opportunities which Pemex will have in Mexico…
Repsol Makes Russia’s Largest Hydrocarbons Discovery in 2 yrs
Repsol has made two new discoveries in the Russia’s Karabashsky blocks, in the West-Siberian Ouriyinskoye field. The recoverable resources from the Gabi-1 and Gabi-3 wells are estimated by the Ministry of Natural Resources and Environment of the Russian Federation at 240 million barrels of oil equivalent, a considerable addition to the resources Repsol currently holds in Russia. The Minister of Natural Resources and Environment of the Russian Federation, Sergei Donskoi said this find is the biggest made in Russia in the last two years.
Incentives' For Pemex To Keep Stake In Repsol low
Mexico's Energy Minister said on Monday that incentives for Pemex to keep its stake in Repsol are low, adding to suggestions the state oil company could pull its 2.3 billion euro ($3.16 billion) investment from the Spanish firm. Pemex, Repsol's third-biggest stakeholder, has had an increasingly troubled relationship with the Spanish oil major, over how Repsol handled the loss of a unit in Argentina and the degree of influence it has allowed its Mexican partner. Finance Minister Luis Videgaray…
Thales and Sonsub Assist with Prestige’s Aftermath
The solution to the pollution problems caused by the wreck of the Prestige oil tanker could be at hand. The main Spanish Oil Company Repsol YPF was appointed by the Spanish Government to find the best solution to extract the remaining fuel in the Prestige wreck. Repsol YPF selected and awarded contracts to the industry experts Thales GeoSolutions and Sonsub to design and build ROVs for the deepwater survey and investigation, and a further contract to Sonsub, in partnership with Thales GeoSolutions, to carry out a deepwater survey, investigation and evaluation study on the wreck of the Prestige oil tanker, which sank in deep water off the coast of Northern Spain in November of 2002 still carrying a substantial amount of heavy fuel oil.
Spanish Shipbuilder Gets Tanker Contract
Oil and gas group Repsol-YPF had awarded the construction of three liquid natural gas tankers to Spanish state shipbuilder Astilleros Espanoles. The order is reportedly worth $579.4 million. The boats each have a capacity of 138,000 cu. m and would be used to ship liquid natural gas from Trinidad and Tobago, Repsol's gas unit Gas Natural said.
Kvaerner Bags Two Contracts for Disposal of Platforms
Kvaerner has entered into an agreement with Allseas for the recycling of the topside and bridge of the 36-year-old Valhall QP platform when Allseas removes this installation for operator Aker BP in 2019. The structures will be deconstructed during winter 2019 and spring 2020. Kvaerner has also signed a contract with Saipem Uk for disposal of the Varg A installation. Saipem will remove the installation from the field on behalf of Repsol. Varg A was originally delivered by Kvaerner’s yard in Verdal, Norway in 1997.
Repsol-YPF Ships LNG to U.S.
Repsol-YPF SA, the Spanish-Argentine oil and energy company, shipped 135,000 cu. m. of liquid natural gas (LNG) to a U.S. regasification plant to be processed by Norwegian energy company Statoil ASA. Statoil bought capacity rights at the regasification plant in Cove Point, Md., last year to gain access to the growing LNG market in the U.S.
Repsol/YPF Deal Leaves Few Argentine Owned Oil Companies
Repsol SA has reportedly merged with YPF SA, Argentina's largest company, leaving only a handful of oil firms still in Argentine hands.
Repsol to Test Canadian Blend Crude at its Spain Refineries
Repsol will test the first batches of Canadian crude at its Spanish refineries later this month as the oil major takes advantage of a provision that allows Canadian crude to be re-exported through U.S. ports, said a source with knowledge of the deal. Repsol has bought a cargo of Western Canada Select (WCS) heavy blend crude that will arrive in the European country at the end of May to be used as a test for several refineries, the source said. "The 600,000 barrels of WCS were loaded at Freeport (Texas) after obtaining the license to export them from the United States. Mexican Maya was also loaded to optimize the freight," the source added.
Statoil, Repsol Transactions in Priority Areas
Statoil and Repsol announce transactions in Norway, UK, US and Brazil. These transactions increase the number of Statoil’s operatorships in priority areas, providing greater control of asset development and costs through shared efficiencies. * Statoil farms down to Repsol a 15% interest in the Gudrun field on the Norwegian Continental Shelf. Statoil remains the operator and largest equity holder with a 36% interest. * Pending Repsol partner approval, Statoil will acquire a 31% equity share in the UK licence for Alfa Sentral, a field which spans the UK-Norway maritime border.
Spain Gives Go-ahead to Canary Islands Drilling
Spain's Supreme Court approved on Tuesday a $7-billion oil exploration project off the Canary Islands, clearing one of the final hurdles for oil company Repsol to begin drilling within months. In 2012, Spain's government granted permits for hydrocarbon exploration off the coasts of the Fuerteventura and Lanzarote islands, but they were frozen while courts decided on a number of appeals on environmental grounds. Of the seven appeals against drilling rejected by the Supreme Court, one was from the local Canary Island government, which initially supported the project but then turned against it. Repsol, which leads a consortium including Australia's Woodside Petroleum Ltd and Germany's RWE Dea AG…
Deep Sea Mooring Wins Contract with Repsol
Global energy company Repsol has selected Deep Sea Mooring (DSM) to provide a range of mooring services for their drilling operations on the Norwegian Continental Shelf. DSM will be responsible for marine engineering and supplying the mooring equipment. The company will also assist in offshore operations, including both pre-lay and rig move. He added that this was the first time the two companies have worked together. The framework agreement is set to commence immediately and last four years including options. Deep Sea Mooring will manage the contract from its headquarters in Bergen.
Repsol Could Drill off Canary Islands in October
Spanish oil company Repsol could begin prospecting for its $7-billion oil exploration project off the Canary Islands in October, Industry Minister Jose Manuel Soria said on Tuesday. Spain's Supreme Court last month rejected environmental appeals against 2012 government permits granted for oil exploration off the coasts of the islands of Fuerteventura and Lanzarote. "We should be thinking end of October," Soria told Spanish radio channel SER. His ministry would give the final authorization for prospecting next week and Repsol has said it would start three months later, said Soria. (Reporting By Jose Elias Rodriguez;
Iran to Award Gas Contracts
Shell, Total SA and Repsol YPF SA will soon sign contracts with Iran to develop two phases of the Islamic republic's offshore South Pars gas field, Forbes reported. The contracts concern phases 11 and 13 of South Pars, with the production of liquefied natural gas (LNG) scheduled for export. Total will be working on phase 11 in a project called Pars LNG, while Shell and Repsol will be working on phase 13 under the name Persian LNG. The firms will be operating jointly with the National Iranian Oil Co. Investment for each phase has been estimated at between $1.2 and $1.5 billion. (Source: Forbes)
Report: Repsol YPF, Gas Natural to Tender Contract for Five LNG Ships
Repsol YPF SA and its affiliate Gas Natural SDG SA plan shortly to put out for tender a contract to build a fleet of five ships for transporting liquid natural gas, Cinco Dias reported, citing unnamed maritime sector sources. According to the newspaper, the 25-year contract will be worth some one billion Euro and is the largest ever gas transport contract awarded in Spain and one of the biggest in the world. Spanish shipbuilders Maritima del Norte and Elcano are expected to bid for the contract as well as Norway's Knutsen. (Source: www.forbes.com)
Capital Product Partners Announces New Charters
International diversified shipping company Capital Product Partners L.P. announced that it has secured time charter employment for the M/T Aias and M/T Arionas. The M/T Aias (150,393 dwt, Crude Oil Carrier, built 2008, Universal Shipyard, Japan) will be employed with Repsol Trading S.A. (Repsol) for three years (+/- 30 days) at a gross daily rate of $26,500. Previously the vessel was employed under a time charter to Capital Maritime & Trading Corp. (CMTC) at a gross rate of $24,000 per day. The new charter will commence in February 2015 and marks the opening of a new time charter relationship for the Partnership with Repsol. The M/T Arionas (36…