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Oct 15, 2019 Financing obtained by Australian oil company from ING Bank will have a maturity of four years Karoon has signed a US $ 275 million line of credit for the acquisition of the Baúna field in the southern Santos Basin. With a four-year maturity, funding from ING Bank N.V's Singapore branch provides for... Continue Reading →
Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday. "We are generally ready to go to the market for a listing... however, looking at the market right now, with everything going on in the macro environment... Continue Reading →
As investments in tight oil increased from 2016 to 2018 and offshore investments decreased, according to Norwegian energy intelligence group Rystad Energy. Tight oil investments almost reached the same level as offshore in 2018, Rystad added. However, in 2019 the table has turned. Now, offshore investments are on the rise again, while tight oil has... Continue Reading →
Oil major BP now expects to deliver divestment proceeds and announced transactions totalling around $10 billion by the end of 2019, comprising the majority of its two-year divestment program planned to complete by the end of 2020. Following the $10.25 billion all-cash acquisition of US onshore assets from BHP in 2018, BP announced a $10... Continue Reading →
Due to several factors including lack of liquidity (transaction activity), less willingness by investors and banks to finance rig acquisitions, expectations of a prolonged low-dayrate environment, and additional distressed or available supply in the market, offshore rig values have decreased across all segments in Bassoe Analytics. It should be noted that the sale and purchase market... Continue Reading →
OCT 8, 2019 Facing a difficult moment, Enseada Shipyard, in Bahia, has just filed its request for judicial recovery, covering R$ 2.3 billion in competition claims *. The decision was taken to implement a definitive financial restructuring of the company, which has been facing severe financial problems in recent years. Despite the request for recovery,... Continue Reading →
October 8, 2019 Petróleo Brasileiro SA - Petrobras, following up on the release of 11/28/2018, reports that today it completed the sale of its interests in Pargo, Carapeba and Vermelho fields, located in shallow waters off the coast of the State of Rio de Janeiro, to Perenco Petróleo e Gás do Brasil Ltda (“Perenco”). After... Continue Reading →
Struggling French offshore vessel owner Bourbon has received an offer for the takeover of its assets and activities. As part of the reorganization proceedings opened since August 7, 2019, by the Marseilles Commercial Court to the benefit of Bourbon Corporation and its affiliate Bourbon Maritime, Court Administrators have received a takeover offer, Bourbon said in... Continue Reading →
(Reuters) - Brazilian state bank Caixa Economica Federal has filed a legal motion requesting the liquidation of engineering conglomerate Odebrecht SA, according to court documents seen by Reuters, in what could be a dramatic end to the graft-plagued company. Caixa also demanded that creditors appoint new management at the conglomerate and its subsidiaries if the... Continue Reading →
Norway’s TGS (TGS.OL), a supplier of seismic data to the global oil industry, reported record third-quarter revenues on Tuesday, beating both its own and analysts’ forecasts, the company said. So-called net segment revenues hit $277 million for the July-September period, while the company had predicted it would be in excess of $250 million. Continue reading
