Brazilian state-run power company Eletrobras filed a share offering request with the country’s securities and exchange commission on Friday, it said, as it officially launched a privatization bid to be priced on June 9.According to a preliminary prospectus, the offering may reach 30.69 billion reais (US$ 6.45 billion), taking into account Thursday’s closing price of R$ 44 reais per common share.Centrais Eletricas Brasileiras SA, as the company is formally known, said the transaction will comprise a primary offering of 627,675,340 new shares and a secondary offering of 69,801,516 shares currently held by state development bank BNDES.

May 27, 2022 - Offshore Magazine

Offshore has been awarded a limited notice to proceed (LNTP) by Shell Brasil Petróleo Ltda and its partners for early-stage engineering and supplier reservations for the supply of an FPSO for the Gato do Mato oil and gas field offshore Brazil, according to a recent company news release. Upon completion of the LNTP, which is valued up to US$ 50 million, Shell and its partners target to award a lease and operate contract to a consortium comprising BW Offshore and Saipem S.p.A. The consortium will be jointly responsible for the engineering, procurement, construction and installation (EPCI) of the FPSO with expected delivery in 2026.

May 27, 2022 - Offshore Energy

U.S. classification society American Bureau of Shipping (ABS) has revealed that a floating, production, storage, and offloading (FPSO) vessel, which will work on a field offshore Brazil, will be operated under ABS Class. ABS said in a statement on Thursday that the FPSO Atlanta, contracted by Enauta to Yinson for conversion to service the Atlanta field offshore Brazil, will be operated under ABS Class. Matt Tremblay, ABS Vice President, Global Offshore, remarked: “This is a significant, complex asset capable of operating in ultra-deepwater offshore Brazil today. Through our focus on safety and innovation, we are able to continue demonstrating our leadership in Brazil, where more than 60 per cent of all FPSOs in service are ABS classed.

May 27, 2022 - Reuters

Brazilian energy company Raizen SA is considering accelerating its expansion plan on second-generation ethanol plants, executives said on Wednesday during an investor day. This comes roughly two weeks after the firm, a joint venture between Cosan SA and Shell SHEL.L, approved a 2 billion reais (US$ 413.59 million) investment to build two 2G ethanol plants as it looks to expand its portfolio on renewable fuel.

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