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Offshore drilling firm Seadrill Limited's unit Seadrill New Finance (the Issuer) has emerged from chapter 11 after successfully completing its pre-packaged restructuring pursuant to its chapter 11 plan of reorganization. The Plan was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 12, 2022. All conditions precedent to the... Continue Reading →
Rio de Janeiro, January 14, 2022 - Petróleo Brasileiro S.A. – Petrobras confirms the achievement of its production targets for the year 2021, with the following results: The highlights of 2021 were: • the start of production from FPSO Carioca, the first platform in the Sépia field, in the Santos Basin pre-salt;• own... Continue Reading →
Mexico's attorney general has requested a prison sentence of up to 39 years for the former chief executive of state oil company Petroleos Mexicanos (Pemex) for his role in a corruption scandal, two judicial sources said on Wednesday. Emilio Lozoya is accused of having requested money from scandal-plagued Brazilian construction conglomerate Odebrecht to partially finance... Continue Reading →
(Reuters) - Brazilian oil company Enauta Participacoes SA (ENAT3.SA) said on Monday it will no longer sell its stake in the Manati oilfield, adding that conditions for the conclusion of a previously announced deal with Gas Bridge SA have not been met. "The deal was subject to a series of commercial and regulatory conditions that should have... Continue Reading →
Guyana's parliament on Wednesday approved local content rules for oil producers and a sovereign wealth fund to oversee the South American nation's earnings from a budding oil bonanza. International oil producers have discovered 10 billion barrels of oil and gas that promise to transform Guyana's agricultural and mining economy into an oil powerhouse providing billions... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it was notified, on this date, of preliminary decisions rendered by the Court of Justice of the State of Rio de Janeiro that determined the maintenance of the conditions of the contracts entered into between Petrobras and state distributors (CEG and CEG RIO), which will expire on 12/31/2021,... Continue Reading →
(Reuters) - Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities. In a note on Tuesday night, the company, formally Petroleo Brasileiro SA (PETR4.SA), said... Continue Reading →
(Reuters) - A South African high court on Tuesday blocked Shell (RDSa.L) from conducting seismic testing offshore from South Africa's pristine Wild Coast, in the latest ruling in a case seeking to prevent the oil major from exploring for oil and gas. On Dec. 3 a different high court order gave Shell the go-ahead to conduct an... Continue Reading →
The article has been amended on 28 December 2021, correcting the parts identifying Jurong Shipyard as “Brazilian wholly-owned subsidiary” to “wholly-owned subsidiary, Jurong Shipyard.“ (OM) Singapore-based offshore builder Sembcorp Marine has informed that its wholly-owned subsidiary, Jurong Shipyard, is facing arbitration under four separate contracts due to allegations of a breach of contract and payment claims... Continue Reading →
Petróleo Brasileiro SA – Petrobras, informs that its Board of Directors approved the model for the sale of up to 100% of the preferred shares it holds in Braskem S.A. (Braskem), to be conducted through secondary public offering(s) of shares (follow-on), together with Novonor S.A. - In Judicial Recovery and NSP Investimentos S.A. - In... Continue Reading →
Brazil Energy Insight 