Brought to you by Quest Offshore & Southern Cone Consultants
Petrobras informs that it has launched the More Value Program (Programa Mais Valor), a new financial solution tool for suppliers. The pilot started last week and, in November 30th, the tool will be opened to companies interested in anticipating invoices with more competitive rates. The program seeks to stimulate the oil and gas production chain... Continue Reading →
Investments from global exploration and production companies (E&P) in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows. However, about 20 per cent of this amount could be at risk. About 20 per cent or $76 billion of the estimated 2021 investments could be at risk of deferral... Continue Reading →
While trying to restructure its debt, offshore drilling contractor Seadrill has managed to agree on the suspension of payments with creditors related to leasing arrangements for three drilling rigs and the corresponding financing agreements. Seadrill said last Friday it had entered into forbearance agreements with certain creditors in respect of the group’s senior secured credit... Continue Reading →
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 →
