EXCLUSIVE Brazil probes U.S. oil trader Freepoint in alleged bribery scheme

(Reuters) Authorities in Brazil are investigating senior employees at Connecticut-based trading house Freepoint Commodities for their alleged role in a bribery scheme involving state-run oil company Petrobras, Reuters has learned. Federal police here suspect Freepoint, through an intermediary, routed bribes to Petrobras employees for a roughly seven-year period ending in 2018. Reuters pieced together the... Continue Reading →

June 2, 2021 0

Green light for Archer to close DeepWell takeover

Oilfield services provider Archer has received approval from a competition regulator in Norway for the acquisition of DeepWell. Following an offer letter from April 2021 to purchase 100 per cent of shares in DeepWell, Archer in early May signed a sale and purchase agreement to acquire DeepWell based on an enterprise value of NOK 177 million on a debt... Continue Reading →

May 31, 2021 0

Petrobras on agrarian demand in Bolivia

Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that its wholly-owned subsidiary Petrobras Bolivia S.A. (PEB) was condemned in the first instance to pay compensation for the use of property where the San Alberto field facilities are located in the amount of US$ 61.1 million, plus interest and... Continue Reading →

May 29, 2021 0

Petrobras on collective action in the Netherlands

Petróleo Brasileiro S.A. – Petrobras, further to the press release dated January 29, 2020, announces that the District Court of Rotterdam (the Court) yesterday rendered an interim judgment regarding the admissibility of the collective action filed in 2017 by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and other defendants. The Foundation... Continue Reading →

May 27, 2021 0

Landmark Ruling: Dutch Court Orders Shell to Deepen Carbon Cuts

(OE) A Dutch court on Wednesday ordered Royal Dutch Shell to significantly deepen its planned greenhouse gas emission cuts, in a landmark ruling that could pave the way for legal action against energy firms around the world. At a courtroom in The Hague, judge Larisa Alwin read out a ruling which ordered Shell to reduce... Continue Reading →

May 26, 2021 0

Karoon in dispute with Peru partner over second offshore well

Australia’s Karoon Energy has received a dispute notice from a partner in its operated Block Z-38, offshore Peru, due to an alleged breach of obligations related to the drilling of a second exploration well on the block. Karoon’s wholly-owned subsidiary, KEI (Peru Z‐38) Sucursal del Peru, owns a 40 per cent operating equity interest in... Continue Reading →

May 26, 2021 0

Seadrill Partners Emerges from Chapter 11 Bankruptcy

Seadrill Partners, an affiliate of offshore drilling firm Seadrill, said Tuesday it had emerged from Chapter 11 bankruptcy for which it had filed in December 2020. The company said it has successfully completed its reorganization, turning around $2.8 billion in funded debt obligations into equity, and leaving the company debt-free on emergence. As part of the reorganization plan, new... Continue Reading →

May 25, 2021 0

Talos Best Positioned to Lead Zama Field Development, CEO Says

U.S.-based oil company Talos Energy, working on a unitization agreement for the giant Zama offshore oil discovery in Mexico with the Mexican oil company Pemex, hopes the final solution will see the company lead the development of the field as the operator, and that the parties would realize "true percentages" in the Zama field. Talos... Continue Reading →

May 21, 2021 0

Petrobras on VAT tax (ICMS) in PIS/COFINS calculation basis

Petróleo Brasileiro S.A. – Petrobras, following up on the material fact disclosed on 07/29/2020, informs that, as a result of the Supreme Federal Court (STF) decision published on 05/14/2021, in which it was defined that the amount of VAT tax (ICMS) to be excluded from the PIS and COFINS tax base is the one highlighted... Continue Reading →

May 21, 2021 0

BP, Eni in talks to merge Angolan oil and gas businesses

(Reuters) BP (BP.L) and Eni (ENI.MI) said on Wednesday they had entered into talks to merge their oil and gas operations in Angola to form one of Africa's largest energy companies. The two companies have signed a non-binding memorandum of understanding and are in discussions on a joint venture that will include their liquefied natural gas (LNG) facilities, they... Continue Reading →

May 19, 2021 0