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The National Agency of Petroleum, Natural Gas and Biofuels - ANP published today, September 29, 2021, ANP Resolution No. 854, of September 27, 2021, which regulates the procedures for the presentation of financial guarantees and term to ensure the resources for the decommissioning of production facilities in oil and natural gas fields.The presentation of financial... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up the release disclosed on 08/24/2021, informs that the partner CNOOC Petroleum Brasil Ltda. (CNOOC) expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, for the Búzios field, in the Santos Basin pre-salt area.... Continue Reading →
(Reuters) - U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly disclose taxes and other payments they have made to... Continue Reading →
Sept 22 (Reuters) - Brazilian authorities are investigating whether JPMorgan Chase & Co (JPM.N) played a role in an alleged bribery and money laundering scheme that dated back to 2011 and involved state-run oil company Petrobras, according to documents reviewed by Reuters and two law enforcement sources. So far, police have focused their attention on purchases of... Continue Reading →
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 →
Brazil Energy Insight 