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Australian oil and gas firm Karoon Energy has reached a settlement agreement with Pitkin Petroleum over a dispute related to Block Z-38, offshore Peru. Back in May, Pitkin Petroleum sent a notice of the dispute to Karoon Energy, related to the joint operating agreement in respect of Block Z-38, offshore Peru in which the two... Continue Reading →
(epbr) Opinion of the Specialized Federal Attorney with Ibama considered that Petrobras' request for a preliminary license (LP) for exploration in Foz do Amazonas is illegal, according to information supplied by WWF-Brasil. The oil company tried to slice up the licensing to streamline the process. -- Petrobras requested the exceptional issuance of an LP, which... Continue Reading →
Brazil’s offshore vessel operator CBO has closed the acquisition of compatriot player Finarge Apoio Maritimo, taking over five AHTS vessels in the transaction. Finarge is a Brazilian shipping company founded in 2008 as a subsidiary of the Italian company Finarge SRL, which was established in 1981 by the Italian company Rimorchiatori Riuniti S.p.A. Finarge is... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador is facing arbitration claims stemming from contractual disputes with two private contractors, the company said on Friday, adding that the processes would not affect crude output. Kamana Services and Servicios Petroleros Igapó separately presented claims stemming from disputes over services contracts signed with Petroecuador in 2016 to the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 21, 2021, informs that, as scheduled, it concluded today the settlement of the Term of Commitment entered into with Fundação Petrobras de Seguridade Social (Petros) relating to the migration process of the Renegotiated and Non-Renegotiated Petrobras System’s Petros plans (PPSP-R and PPSP-NR)... Continue Reading →
Bankrupt offshore drilling contractor Seadrill Limited is on track for Chapter 11 emergence following court approval of its disclosure statement for the reorganisation plan. Seadrill filed for Chapter 11 back in February 2021 and has been working since then on a plan to emerge from bankruptcy. In late July, the rig owner hammered out the reorganisation plan with its... Continue Reading →
(Bloomberg) --Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. The Houston-based driller sent the Mexican government a dispute notice Friday, a required step before moving to arbitration under the... Continue Reading →
Offshore rig owner Noble Corporation has declared force majeure on the Noble Globetrotter II ultra-deepwater drillship following damages sustained as a result of Hurricane Ida. A number of crew members were injured during the storm. As previously reported, the vessel encountered severe weather during Hurricane Ida and Noble is working on plans to bring the drillship... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the Brazilian Congress approved yesterday the Legislative Decree that suspends the effects of CGPAR Resolution No. 23, a rule that was in effect since January 26, 2018 and established, among other issues, guidelines and parameters for the federal state-owned companies' funding of employees' health care benefits. The health... Continue Reading →
(Reuters) - Venezuela's socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks to mend ties with creditors, four people familiar with the operation said. Such debt-for-equity swaps are common in corporate bankruptcy proceedings and have... Continue Reading →
Brazil Energy Insight 