Franco-American oil services firm TechnipFMC Plc said on Thursday it resumed its plan to split itself into two, after delaying the move in March. The group, created nearly four years ago via the merger of Technip and FMC, had been planning to separate its engineering and construction activities from its upstream oil services business. However, it put the... Continue Reading →
Petrobras signs contract for sale of Mangue Seco 1
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on May 4, 2020, informs that it signed today with V2I Transmissão de Energia Elétrica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the sale of the totality of its stake of 49% in Eólica Mangue Seco 1 –... Continue Reading →
GeoPark Announces Fourth Quarter 2020 Operational Update
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today announced its operational update for the three-month period ended December 31, 2020 (“4Q2020”). All figures are expressed in US Dollars. Growth... Continue Reading →
McDermott Completes New Capital Raise For $560 Million
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 →
Brazil Energy Insight 