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(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 →
Petróleo Brasileiro SA – Petrobras, following up on the releases disclosed on 08/04/2021, 10/28/2021, and 11/19/2021, informs that it is carrying out today the payment of the 2nd installment of the anticipated shareholder remuneration for 2021. The gross amount distributed corresponds to the gross value of dividends and interest on equity (IOE) of R$ 3.250487... Continue Reading →
(Reuters) - Royal Dutch Shell PLC (RDSa.L) shareholders are expected to vote on Friday to approve a plan to end the company's dual share structure and move its headquarters to London from The Hague. The Anglo-Dutch company's board members presented the plan in November. They said the simplification would strengthen Shell's competitiveness and make share buybacks and paying... Continue Reading →
Offshore accommodation rig provider Prosafe has secured a contract extension for one of its units for operations in Trinidad and Tobago. In an update on Thursday, Prosafe revealed that the firm charter period for its Safe Concordia unit in Trinidad and Tobago has been extended and takes the firm operational period through to end-January 2022. The total... Continue Reading →
Unions of oil workers across the country, linked to the Single Federation of Oil Tankers (FUP), held a national act of protest in front of Petrobras refineries located from north to south of Brazil, in protest against the privatization of the company's refining units. The movement began at the Landulpho Alves Refinery (RLAM), in Bahia,... Continue Reading →
Oil major Shell is free to go ahead with its planned seismic surveys along the eastern coast of South Africa after the court dismissed an 11th-hour legal challenge by environmental groups which claim that the activities will cause irreparable harm to the marine environment in the region. The seismic survey, initially scheduled to begin on... Continue Reading →
SBM Offshore, one of the world's largest suppliers of FPSO vessels for the offshore oil and gas industry, has been ordered to pay 7.0 million CHF (around USD 7.6 million) for bribery in the 2005 – 2012 period. A year ago, SBM Offshore said that three of its subsidiaries in Switzerland had received a notification... Continue Reading →
Brazil Energy Insight 