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Offshore drilling contractors Noble Corporation and Pacific Drilling have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. It is worth mentioning that both of these companies have recently emerged from Chapter 11 bankruptcy. Pacific Drilling completed its balance-sheet restructuring and emerged from the Chapter 11 process in... Continue Reading →
Floatel International, a company providing offshore accommodation rigs for the oil and gas industry, said Wednesday it had successfully completed its comprehensive balance sheet restructuring. The company said it had secured a fully consensual deal among all key stakeholders, including its shareholders, 1L Bondholders, 2L Bondholders, and its Bank Vessel Facility lenders. In connection with... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company's shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in the state of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of US$ 59.4 million, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7 billion in funds recovered through collaboration, leniency... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, as a follow up to the release disclosed on February 8, 2021, informs that the company's Board of Directors, in a meeting held today, approved the sale of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, to Mubadala Capital for US$ 1.65 billion. The signing of... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, regarding the pieces of news published in the media, clarifies about the sale process of Landulpho Alves Refinery (RLAM) and its associated logistics assets. In all asset sale processes, Petrobras establishes a value range that guides the transaction and considers the technical and productivity characteristics and the asset's potential to... Continue Reading →
Offshore drilling contractor Vantage Drilling has received court approval for a previously proposed deal which entails Vantage managing some of the rigs owned by Seadrill Partners. Vantage said Friday it had has entered into a Framework Agreement and related Management and Marketing Agreements with Seadrill Partners LLC (“Seadrill Partners”) under which Vantage’s subsidiaries will provide operating, management... Continue Reading →
(Reuters) - Mexico is looking to renegotiate some of its hundreds of millions of dollars-worth of contracts with Vitol SA after the global energy trader acknowledged paying kickbacks to win business with state oil company Pemex, Reuters has learned. The dispute in Mexico, the world’s fourth-largest importer of refined oil products, is part of the... Continue Reading →
The board of the National Petroleum Agency (ANP) approved phase 1 of the Development Plan (PD) of the shared deposit of the Bacalhau and Bacalhau Norte fields, in the Santos Basin. The operator of the area, the Norwegian Equinor, forecasts about US$ 8.5 billion in investments in this stage of the undertaking, with the expectation... Continue Reading →
(Reuters) - Mexico’s government will absorb regular debt payments this year for Petroleos Mexicanos (Pemex), as President Andres Manuel Lopez Obrador intensifies his efforts to prop up the heavily-indebted state-run oil company. Those so-called debt amortization payments will total over $6 billion in 2021, Chief Executive Officer Octavio Romero said Thursday at an event in... Continue Reading →
Brazil Energy Insight 