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Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan. Noble Corp. filed for Chapter 11 bankruptcy protection to restructure its debt in early August 2020 following a severe downturn in commodity prices amid Covid-19 pandemic. The company then in early November 2020 changed its name to Noble Holding Corporation... Continue Reading →
BP has agreed to sell its London headquarters for 250 million pounds ($332 million), a spokesman said on Friday, the latest in a string of disposals as the British energy company shifts to low-carbon energy. BP also agreed to lease 1 St James's Square in central London back from Hong Kong-based property investment company Lifestyle International for... Continue Reading →
Offshore drilling contractor Seadrill has added approximately $52 million to its backlog following the end of the third quarter of 2020. Seadrill is also looking to manage its rig count by recycling some of its rigs as it prepares for a prolonged period of low offshore activity and demand. Seadrill said on Friday that the Sevan... Continue Reading →
(Reuters) - The Trump administration’s final sale of oil and gas leases in the Gulf of Mexico generated nearly $121 million in high bids on Wednesday, an improvement from the last government auction held just as the coronavirus pandemic was beginning to depress world demand for fuel. The sale was the last before the January... Continue Reading →
(Bloomberg) --Chevron’s willingness to keep a foothold in oil-rich Venezuela will now be a thorny political issue for President-elect Joe Biden to sort out. The U.S. Treasury Department extended until June 3 its authorization for Chevron to carry out essential transactions in the country to preserve its assets, from a previous Dec. 1 deadline. Since... Continue Reading →
Petrobras, following up on the release disclosed on November 19, 2019, informs that the Administrative Council for Economic Defense (CADE), in a Court session held on this date, approved the sale of Liquigás Distribuidora S.A. ("Liquigás"), a wholly-owned subsidiary of Petrobras, to the acquiring group composed of Itaúsa S.A. (Itaúsa), Copagaz - Distribuidora de Gás... Continue Reading →
Brazilian oil and gas company PetroRio has signed an agreement with BP for the acquisition of interests in two fields offshore Brazil. PetroRio said on Thursday that the agreement was for the acquisition of 35.7 per cent interest in the BM-C-30 block which consists the Wahoo field. The deal also includes the buy of the... Continue Reading →
Offshore drilling contractor Transocean has secured contract extensions for two of its 2011-built drillships with Brazil's national oil company Petrobras. Transocean said Wednesday that Petrobras had exercised a 680-day option for the Deepwater Corcovado drillship, and an 815-day option for the Deepwater Mykonos drillship. Transocean acquired both ultra-deepwater drillships through the acquisition of its rival Ocean... Continue Reading →
Norwegian offshore wind services firm Aker Offshore Wind has increased its stake in Principle Power, a company developing foundations for floating wind farms. Aker Offshore Wind's stake in Principle Power will grow from around 20 percent to an expected 39 percent, after exercising an option to buy further shares in the floating wind technology company.... Continue Reading →
The development of the 17 production sharing contracts in force represents an investment demand of US$ 122.7 billion, between 2021 and 2030, peaking in 2028, when six new FPSOs come into operation, according to PPSA estimates. - The studies are presented at the 3rd Pre-Salt Petroleum Technical Forum. - The investment projection considers the entry... Continue Reading →
Brazil Energy Insight 