PRNewswire/ -- McDermott International, Ltd today announced that on Dec. 31, 2020, it secured $560 million in new capital. As announced on Nov. 18, 2020, the new capital was provided through a series of transactions which was secured through commitments from certain existing lenders and shareholders. McDermott met all conditions necessary to close these transactions and has strengthened its... Continue Reading →
EIG sells stake in Gasbol pipeline, eyes more Brazilian investments
(Reuters) - EIG Global Energy Partners has sold its stake in the Brazilian portion of the Bolivia-Brazil natural gas pipeline, widely known as Gasbol, to Fluxys Belgium NV, the chief executive officer of the U.S.-based company said on Tuesday. The sale of EIG’s 27.5% stake in the Brazilian part of the pipeline for an undisclosed... Continue Reading →
Prosafe still working to hammer out financial solution with lenders
Offshore accommodation provider Prosafe is still working to resolve its financial situation with lenders and come up with a long-term solution for the company. Prosafe’s previous update on its talks with lenders on 1 October 2020 stated that the discussions were constructive and lenders, in general, maintained their support for the company to continue to operate on... Continue Reading →
Pacific Drilling emerges from bankruptcy
Offshore drilling contractor Pacific Drilling has completed its balance-sheet restructuring and has emerged from the Chapter 11 process. Pacific Drilling said on New Year’s Day that the company and each of its debtor affiliates emerged from bankruptcy signalling the implementation of the ‘Modified First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its... Continue Reading →
Petrobras on arbitral award
Petróleo Brasileiro S.A. - Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Óleo e Gás S.A. determining the payment of approximately US$ 37 million, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately US$ 33 million, plus... Continue Reading →
Exxon: Up to $20B Writedown to Overshadow 4Q Gains
Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth-quarter results, but the gains would be overshadowed by an up to $20 billion asset write down. The largest U.S. oil producer has posted losses in the first three quarters of 2020 on an ill-timed... Continue Reading →
Petrobras closes equity interest in Sete Brasil Group
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the Dutch special purpose companies controlled by... Continue Reading →
Petrobras on Vitol leniency agreement
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
Petrobras starts arbitration against Odebrecht
Petróleo Brasileiro S.A. - Petrobras informs that it presented today a request for arbitration with an indemnity claim estimated at approximately R$ 800 million, against Odebrecht S.A., based on the shareholders' agreement regarding Braskem, for violations of its terms.Braskem is not part of this arbitration, which is protected by confidentiality.
Shell Buys 50% Stake In Natural Gas Blocks From Colombia’s Ecopetrol
Royal Dutch Shell has acquired a 50% operating stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in deep water off the Colombian Caribbean coast, from Colombia’s state-owned oil company, Ecopetrol. Shell’s (RDS.A) involvement is seen as a great opportunity for Colombia to develop its energy potential in a safe and efficient manner.... Continue Reading →
Brazil Energy Insight 