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Mexican state-owned oil and gas company Pemex will receive a contribution equivalent to $5 billion from the country’s government to repay and refinance debt. Pemex announced on Wednesday a series of measures intended to improve its financial condition. This operation considers a capital contribution from the Federal Government equivalent to $5 billion to be used... Continue Reading →
September 10, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 03/08/2019, reports that it has concluded today the sale of its 70% interest in the Maromba field, located in shallow waters in the Campos Basin, to BW Offshore Production do Brasil Ltda. (“BWO”). The transaction was completed with the payment of... Continue Reading →
Sept 9/2019 Petrobras (NYSE: PBR) announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), has commenced two concurrent liability management transactions to purchase or exchange, as applicable, seven series of PGF’s outstanding notes (the “Offers”). The Offers will expire at 5:00 p.m. (New York City time) on September 13, 2019 (such date and time... Continue Reading →
The New York Stock Exchange gas decided to suspend trading in securities of Seadrill Partners and has started procedure to delist the company, an affiliate of drilling contractor Seadrill, from the exchange. The NYSE reached its decision due to Seadrill Partner’s low market capitalization. “The Company expects its common units to trade in the over... Continue Reading →
Sep 04, 2019, The Brazilian Senate has approved an agreement for the transfer of rights over a disputed group of oil fields that would see state energy giant Petrobras get US$9 billion in compensation. Reuters reports the agreement also involves payouts to oil-producing states. These will come from the expected proceeds from auctions of the... Continue Reading →
August 29, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/11/2019, informs the beginning of the binding phase related to the sale of its entire 34% stake in Compañia MEGA S.A. (“MEGA”), through its wholly-owned subsidiary Petrobras International Braspetro B.V. (“PIB BV”). Parties qualified for this phase will receive a process... Continue Reading →
Oslo-listed Solstad Offshore has recognized loss of close to NOK 343 million ($38 million) for the second quarter of 2019, compared to loss of NOK 788 million ($87 million) from the prior-year comparable period. The Norwegian vessel owner’s operating revenue for the second quarter 2019 increased slightly to NOK 1.37 billion when compared to NOK... Continue Reading →
CNOOC Limited has increased its oil and gas production by over 2 percent during the first half of the year and boosted its profit for the period as oil and gas sales rose by 4.4 percent. In its report for the six months ended June 30, 2019, released on Thursday, CNOOC said it had increased... Continue Reading →
The decision by global energy service firm TechnipFMC to split into two separate listed companies has been described as a “bold move” by research firm Wood Mackenzie (Woodmac). Commercial intelligence group Woodmac said the news that the London-headquartered firm is to split shows is intent on “playing the long game” and positioning itself for a... Continue Reading →
August 28, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that it has been notified of final decision, without possibility of appeal, from the Administrative Board of Tax Appeals (CARF) that canceled a debt of R$ 5.9 billion in favor of the company regarding the approval of PIS and Cofins credits. The decision will result... Continue Reading →
Brazil Energy Insight 