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(Reuters) Ecuador's state oil company, Petroecuador, has declared force majeure at one of its fields in the Amazonian province of Orellana due to a prolonged protest by an indigenous community over compensation to nearby residents. In a statement published late on Thursday, Petroecuador said the force majeure declaration at the Eden Yuturi field in its... Continue Reading →
Following the completion of financial restructuring and the acquisition of rival Pacific Drilling, offshore drilling contractor Noble Corporation has received approval for listing its ordinary shares on the New York Stock Exchange (NYSE). Noble Corporation said in a statement on Friday that trading is expected to start under the ticker symbol “NE” at the market... Continue Reading →
Offshore accommodation rig provider Prosafe said Friday it had received support from lenders of its affiliated companies Prosafe SE and Prosafe Rigs Pte. Ltd. on debt restructuring proposal. "The company has received acknowledgment of credit approval (subject to certain conditions) in support of the Transaction from ca. 79% across the USD 1300 million facility and... Continue Reading →
(Reuters) A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists. The constitutional claim - the first of its kind in the English-speaking Caribbean - asserts that oil exploration and production led... Continue Reading →
(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 →
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 →
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 →
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 →
(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 →
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 →
Brazil Energy Insight 