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MODEC, Inc. is pleased to announce that a US$ 1.1 billion project bond, issued by an affiliate of MODEC in August 2019, has been awarded as "Project & Infrastructure Finance Bond of the Year 2020" from LatinFinance, the leading source of intelligence on the financial markets and economies of Latin America and the Caribbean. For... Continue Reading →
(Reuters) - Exxon Mobil Corp XOM.N expects to post a quarterly loss from its production business for the third consecutive time this year, the largest U.S. oil major said in a filing on Thursday, as it continues to suffer from a crash in commodity prices due to the coronavirus pandemic. Exxon reported its first back-to-back quarterly loss... Continue Reading →
Offshore drilling contractor Seadrill has replaced CEO Anton Dibowitz. Seadrill's CFO Stuart Jackson will take Dibowitz's place, with immediate effect. Seadrill, which this week got more time from creditors to come up with a $7.3 billion debt restructuring solution, said Thursday that following Jackon's taking of the CEO role, the role and responsibilities of the... Continue Reading →
The new development plans (DP’s) for 14 shallow water fields, recently approved by the ANP, indicate that the areas, previously in process of decline, will receive an injection of investments that exceed R $ 10 billion. This amount refers only to activities considered firm (mandatory) in the plans submitted to the ANP. This value can... Continue Reading →
(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy. Shell, which had 83,000 employees at the end of 2019, said that the reorganization will lead to additional... Continue Reading →
Singaporean conglomerate Keppel Corp said on Tuesday it had identified assets worth S$17.5 billion ($12.8 billion) that could potentially be monetized, including through sales, and started a review of its loss-making offshore and marine (O&M) business. The plans unveiled on Tuesday are part of Keppel's 10-year strategy that it had flagged earlier this year to... Continue Reading →
The cost to Brazil’s government of servicing its ballooning domestic debt fell to an all-time low in August, official figures showed on Monday, following the drop in official interest rates and a dramatic shortening of the debt profile. Treasury also said it is monitoring the short-term, floating rate “LFT” market closely, and expects it to... Continue Reading →
Offshore drilling contractor Valaris has executed a new term loan credit agreement, gaining access to additional liquidity as it is working through its Chapter 11 bankruptcy process. Valaris voluntarily filed for a Chapter 11 financial restructuring in the United States Bankruptcy Court for the Southern District of Texas in August 2020. Valaris said at the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 08/25/2020, 07/27/2020 and 03/20/2020, informs it has made the total prepayment of the remaining balance of its revolving credit lines denominated in US dollars, in the amount of US$ 2.0 billion. With this prepayment, the company currently has US$ 7.6 billion available... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 24, 2020, informs that its Executive Board approved a second alteration to the deadline for certain precedent conditions set forth in the agreement with Seven Brazil to be implemented. Thus, the effectiveness of the agreement and other related contracts will depend on... Continue Reading →
Brazil Energy Insight 