Shareholders of Sembcorp Marine and Sembcorp Industries (parent company of Sembcorp Marine) have approved the proposed Sembcorp Marine Renounceable Underwritten S$2.1 billion Rights Issue and Demerger from Sembcorp Industries at the companies’ respective Extraordinary General Meetings on Tuesday. Continue reading
Petrobras on the Suspension of an Arbitration Award
August 26, 2020 Petróleo Brasileiro S.A. – Petrobras, in continuity to the notices to the market released on July 21 and July 29, 2020, hereby announces that a judicial decision was issued today in favor of the Company, determining the immediate suspension of the arbitration proceeding filed by Fundação Petrobras de Seguridade Pessoal (Petros) and... Continue Reading →
Petrobras on Revolving Credit Lines
August 25, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the releases dated 07/27/2020 and 03/20/2020, informs that it made today the partial pre-payment of its revolving credit lines, in the amount of US$ 2.1 billion. With this prepayment, the company currently has available US$ 5.6 billion for new withdrawals on the revolving credit... Continue Reading →
NYSE to delist Valaris stock following Chapter 11 filing
Offshore drilling contractor Valaris has received a notice of immediate suspension of trading and delisting of common stock from the New York Stock Exchange (NYSE). According to Valaris’ statement from Tuesday, on 19 August 2020, it was notified by the NYSE of its determination to indefinitely suspend trading of the company’s common stock and to... Continue Reading →
Floatel Sees No Improvement in Offshore Accommodation Market Before 2022
Cash strapped offshore accommodation provider Floatel expects a prolonged downturn in the offshore accommodation market, with no significant improvements expected before 2022. The company, which operates five semi-submersible accommodation rigs, said Tuesday that the coronavirus pandemic and low oil prices resulted in oil and gas firms announcing cuts in 2020 capital expenditure, negatively affecting the... Continue Reading →
Seadrill Shareholders Could be Left with Nothing
Offshore drilling rig contractor Seadrill's ongoing attempt to restructure its massive debt could leave current shareholders with minimal or no ownership at all, the Oslo-listed company said on Tuesday. Demand for exploration and drilling has fallen further during the COVID-19 pandemic as oil firms seek to preserve cash, idling more rigs and leading to additional... Continue Reading →
Petrobras on onshore fields sale in Bahia
Rio de Janeiro, August 21 , 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/26/2019, informs that it signed today with SPE Rio Ventura S.A., a wholly-owned subsidiary of 3R Petroleum e Participações S.A., a contract for the sale of its entire interest in eight E&P onshore fields, denominated Rio... Continue Reading →
Premier Oil Extends Debt Facilities, Posts 1H Loss
Premier Oil said on Thursday it had agreed to terms for a long-term refinancing of its debt facilities, including $300 million of new equity and an extension to its credit maturities, after posting a first-half loss on weak crude prices. The British company said $2.9 billion of gross committed debt facilities would be refinanced with... Continue Reading →
Boskalis 1H Earnings, 2020 Goal Beat Forecasts
Dutch marine services provider Boskalis said on Thursday it expected its 2020 core profit to match last year's result, offering a more optimistic outlook than market forecasts citing well-filled order books. The dredging giant, which counts energy companies among its major clients, reported half-year earnings before interest, tax, depreciation and amortization (EBITDA) at 204.1 million... Continue Reading →
Valaris, world’s largest offshore rig owner, declares bankruptcy
Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. The Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas comes after the company... Continue Reading →
