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The Ministry of Finance of Mexico will granted state oil company Pemex a US$5bn billion rescue package to reduce its US$104bn debt load. The rescue package includes a debt refinancing plan and a US$5bn capital contribution for prepayment of bonds maturing between 2020 and 2023. Pemex will issue new bonds maturing in 7, 10 and 30 years for the refinancing of short-term debt. The company had already been granted several tax breaks and cash support throughout 2019. The Mexican government already budgeted for another US$4.4bn of tax and cash support for the year 2020.

Pemex has been facing financial difficulties in the last 7 years, mainly due to weak hydrocarbon prices, a decrease of its oil and gas production, and the low operating efficiency of its refineries. Despite an increase of 20% of revenues in 2018, the company has a net loss of US$9bn and became the most indebted oil company in the world.

Russian energy group Lukoil announced it closed its transaction with New Age M12 Holdings to buy a 25% interest in the Marine XII project in the Republic of Congo for US$800m. All suspensive conditions were met, including the approval of the Congolese government. …

The Norwegian Petroleum Directorate has granted Equinor approval to extend the lifetime of another two installations on the Norwegian continental shelf (NCS), namely Tordis and Vigdis oil fields both in block 34/7 in the Tampen area of the Norwegian North Sea (Norway). The fields will have a life extension of 34 years until December 2036 and December 2040 respectively. …

Energias de Portugal (EDP), through EDP Finance, has issued €600m worth of green bonds to finance the development of its renewable portfolio (Portugal). The Medium-Term Notes (MTN) were issued under its Programme for the Issuance of Debt Instruments and will mature on September 2026. The funds raised will finance wind and solar projects by EDP Renovaveis. …

India and Russia have agreed on the purchase of a 49% stake at Russia’s Vankor cluster oilfields in Eastern Siberia, by an Indian consortium led by ONGC Videsh (OVL). A preliminary pact on the deal was signed during the Eastern Economic Forum along with multiple other investment agreements. Rosneft, the cluster’s operator, also offered to sell stakes at five other fields. …

The Lithuanian Ministry of Energy proposed three renewable energy auctions for 2020-2022. The country will allocate 0,7 TWh of electricity per year, regardless of renewable energy type (biomass, biogas, solar, or wind).

The Turkish Karpowership announced its 235 MW powership Ayşegül Sultan departed from Turkey to Senegal. The vessel, which will be anchored in Dakar, intends to begin commercial operation in early October 2019.

Royal Vopak has acquired a 49% stake in the Sociedad Portuaria el Cayao (SPEC) LNG import facility in Cartagena (Colombia). SPEC (now Promigas (51%) and Royal Vopak (49%)) is the only LNG floating storage and regasification unit (FSRU) in Colombia and has been operational since 2016. …

Australia’s oil and gas company Woodside Energy is looking for a potential buyer for part of its 75% share at the Scarborough gas field (Australia) and of its 50% share at the Kitimat LNG project (Canada). The sale will finance Woodside’s next expenditure cycle. …