Petróleo Brasileiro S.A. – Petrobras informs that, in alignment with its ongoing contingency assessment process, it signed an agreement today in the scope of the three public civil actions investigating environmental damage resulting from the leakage of the Santa Catarina - Paraná (OSPAR) oil pipeline, which occurred on July 16, 2000, in the city of... Continue Reading →
Oil Market Needs $500B+ Injection to Ensure Supply
(Bloomberg) Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. Crude and natural gas drillers chastened by last year’s unprecedented collapse in demand and prices haven’t responded to the recent market... Continue Reading →
Tidewater Plans Bond Offering to Refinance Debt
(OE) U.S. based offshore support vessel owner Tidewater plans to start an offering of USD denominated 5-year senior secured bonds, subject to market and other conditions. "The Company intends to use the net proceeds from the bond issue towards refinancing of the Company’s outstanding debt and for general corporate purposes," Tidewater said. The bonds will... Continue Reading →
Seadrill Seeks to Keep Bankruptcy Control As it Aims for Ch. 11 Exit
Offshore driller Seadrill Ltd has requested an additional four months to retain control of its bankruptcy proceeding, saying it is still working to drum up as much support as possible for its proposed reorganization plan. The company, represented by Kirkland & Ellis, made its request in a motion filed on Tuesday, a few weeks before... Continue Reading →
Shell flags $400 mln hurricane hit, but boost from soaring prices
(Reuters) - Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August's Hurricane Ida. However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cashflows from soaring natural gas and electricity prices. Gas and power prices have been... Continue Reading →
Petrobras clarifies about pieces of news in the media
Petróleo Brasileiro S.A. – Petrobras informs that its Strategic Plan 2022-26 (SP 2022-26) is under preparation. Following the previous years, in SP 2022-26 the Company intends to present its production curve, the plan's financing, as well as the investment projection (CAPEX), including the amount to be spent each year and the main projects to be... Continue Reading →
Petrobras concludes obligations in agreement with DoJ
Petróleo Brasileiro S.A. – Petrobras announces that it has concluded the obligations set forth in its agreement with the U.S. Department of Justice (“DOJ”), previously disclosed in its 09/27/2018 release. The non-prosecution agreement, which related to Petrobras’ internal controls, accounting records, and financial statements during the period from 2003 to 2012, included certain obligations to... Continue Reading →
CGG closes sale of GeoSoftware business
France-based geophysical services company CGG has completed the sale of its GeoSoftware business to Topicus and Vela Software. The company has closed the sale for a total cash consideration of $95 million with the transaction effective from 1 October 2021. To remind, CGG entered into an agreement with Topicus and Vela Software for the sale of the... Continue Reading →
Seaway 7 emerges as OHT and Subsea 7 combination completes
Subsea 7 has officially completed the transaction to combine its Renewables business unit with Norway’s OHT ASA into a pure-play renewables company. Effective from the closing of the transaction, the combined company is renamed Seaway 7. Subsea 7’s wholly-owned indirect subsidiary, Subsea 7 Blue Space, holds 72% while OHT holds 28% of the new company’s... Continue Reading →
Petrobras concludes redemption of Global Notes
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on September 24, 2021, informs that its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) concluded today the settlement of the early redemption of the 4.375% Global Notes e 4.25% Global Notes, both maturing in 2021. The total amount of the redemption was equivalent to... Continue Reading →
Brazil Energy Insight 