Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. ... Continue Reading →
PetroRio Stock Split
Petro Rio S.A. ("Company" or "PetroRio") (B3 ticker: PRIO3) in accordance with CVM Instructionº 358/2002, announces to its shareholders and the market that the Board Meeting held on April 30, 2021 has approved a 5-for-1 stock split of Company shares, so that each share will be represented by 5 (five) shares. 702,664,676 new common shares... Continue Reading →
Petrobras concludes the sale of a 10% stake in NTS
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on April 28, 2021, informs that it has entered into a contract and completed today the sale of its remaining 10% interest in Nova Transportadora do Sudeste S.A. (NTS) to Nova Infraestrutura Gasodutos Participações S.A. (NISA), a company formed by Nova Infraestrutura Fundo de... Continue Reading →
Petrobras extends maturity of revolving credit line
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on March 28, 2019, informs that it has extended part of the Revolving Credit Facility (RCF) maturing in March 2024, in the amount of $3.25 billion, for two more years. Thus, 63% of the total amount of the credit line, that is, US$ 2.05... Continue Reading →
Mexico’s Pemex narrows losses in first quarter
(Reuters) Petroleos Mexicanos (PEMX.UL) said on Friday its losses narrowed 93% in the first quarter after higher sales, lower imports and tax cuts eased pressure on Mexico's highly indebted state oil company. Pemex, as the company is known, said the net loss of 37.297 billion pesos ($1.8 billion) shrank from 562.130 billion pesos in the... Continue Reading →
Stronger price environment pushes Eni 1Q profit past $1 billion
Italian oil and gas company Eni booked a net profit of over $1 billion in the first quarter of the year due to a strengthened upstream price environment. Eni said in its financial report on Friday posted a net profit of €856 million ($1.034 billion) due to a strengthened upstream price environment in the first... Continue Reading →
ExxonMobil earns $2.7 billion in first quarter of 2021
U.S. supermajor ExxonMobil booked a quarterly profit due to benefits of higher commodity prices and structural cost reductions. ExxonMobil last Friday posted estimated earnings of $2.7 billion in the first quarter of 2021 compared with a loss of $610 million in the same quarter last year. The company stated that the positive results reflect the benefits... Continue Reading →
Enauta resolves Atlanta field dispute with Dommo Energia
Brazilian oil and gas company Enauta has come to an agreement with Dommo Energia regarding all of the ongoing legal proceedings pertaining to the Atlanta Field offshore Brazil. This has been a long ongoing dispute dating back to 2017. At the time, Barra Energia exercised the rights to expel Dommo Energia from Block BS-4 which... Continue Reading →
Chevron profit drops on weaker refining margins, storm hit
(Reuters) Chevron Corp's (CVX.N) first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a... Continue Reading →
NOV Reports First Quarter 2021 Results
NOV Inc. (NYSE: NOV) reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included... Continue Reading →
Brazil Energy Insight 