Category: Legal

SLB, Subsea 7, and Aker Solutions’ Subsea JV Gets Nods from Competition Authorities

(OE) Oilfield services firms SLB, Subsea 7, Aker Solutions have received approvals from all relevant competition authorities to create a subsea joint venture, as proposed in August 2022. "Following clearance as of [Friday] by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway,... Continue Reading →

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Petrobras on the Dutch collective investor action

Petróleo Brasileiro S.A. – Petrobras, further to the releases to the market dated January 29, 2020 and May 27, 2021, informs that the District Court of Rotterdam ("Court") issued today an interim decision on the merits in the collective action filed by the St. Petrobras Compensation Foundation ("Foundation") against Petrobras and other defendants in the... Continue Reading →

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Petrobras on arbitration

Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, informs that an Arbitration Court of the B3 Market Arbitration Chamber issued a partial decision stating that the general civil liability regime applies to the shareholders' indemnity claim. This is a merely partial decision, which addresses a preliminary issue, but does... Continue Reading →

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Guyana to Take No Action on Exxon Contractor Until Formally Notified on U.S. probe – VP

(Reuters) Guyana's Vice President Bharrat Jagdeo on Thursday said the government will not take action against a local Exxon Mobil Corp contractor after Reuters reported its owners are under a U.S. criminal investigation. Last Friday, Reuters disclosed that U.S. government officials repeatedly warned Exxon against doing business with two Guyanese mining magnates who are involved in a... Continue Reading →

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Saipem’s €860 million credit facilities come into force

Italy’s oilfield services provider Saipem has strengthened its financial structure and liquidity, after its two new credit facilities, totalling €860 million (nearly $945 million), came into effect. Saipem entered into two new credit facilities in February 2023 with a pool of leading national and international banks. The effectiveness of these credit facilities was subject to the enactment... Continue Reading →

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Shell and Ocean Winds Joint Venture Seeks to Terminate and Rebid US Offshore Wind Contracts

(OW) SouthCoast Wind, the developer of an offshore wind lease area off the coast of Massachusetts, has started discussions with this US state’s representatives and utilities to terminate its existing Power Purchase Agreements (PPAs) citing ”material and unforeseen supply chain and financing cost increases affecting the whole offshore wind industry.” The SouthCoast Wind, a 2.4 GW... Continue Reading →

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