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September 12, 2019 Petrobras formulates sales models for the pre-salt pipelines with partners, scheduling operation for 2020 Petrobras is preparing an unprecedented operation to reduce its stake in the Route 1, Route 2 and Route 3 pipelines, which are responsible for interconnecting the Santos cluster fields to the coast of Rio de Janeiro and São... Continue Reading →
General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate's stake in the oilfield services provider to less than 50%, Baker Hughes said on Tuesday. Shares of Baker Hughes, in which GE owned an about 50.4% stake as of... Continue Reading →
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 →
