Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) -A Canadian man once employed by the commodities trading house Gunvor Group pleaded guilty on Tuesday to involvement in what U.S. prosecutors called a scheme to bribe Ecuadorean government officials to win business from state-controlled oil company Petroecuador. Raymond Kohut, 68, entered his plea to a money laundering conspiracy charge before U.S. District Judge... Continue Reading →
Offshore drilling rig contractor Seadrill has asked creditors to write off more than 85% of its debts in exchange for a 99% stake in the reorganized company, a court filing showed. The Oslo-listed firm controlled by Norwegian-born billionaire John Fredriksen in February filed for Chapter 11 bankruptcy protection in the United States, the second time... Continue Reading →
(Reuters) - Colombia has provisionally approved U.S. oil company ExxonMobil Corp’s plan to develop a pilot project for hydraulic fracturing, known as fracking, in the country’s Valle Medio del Magdalena basin, the oil regulator said on Wednesday. With the Platero investigative project ExxonMobil becomes the second company to begin a fracking pilot project in Colombia,... Continue Reading →
(Reuters) - The merger of Chrysaor and Premier Oil is due to complete on Wednesday, creating Harbour Energy, the UK North Sea’s biggest oil and gas producer, which will replace Premier’s stock exchange listing from Thursday, Premier said. The reverse takeover of Chrysaor by Premier Oil, which traces its history back to the 1930s, ushers... Continue Reading →
Malaysia's largest oil and gas services provider Sapura Energy on Tuesday said it has refinanced 10.3 billion ringgit ($2.48 billion) of its debt for a period of seven years. The company said the refinancing includes an $820 million term loan facility to be offered by banks in U.S. dollars and Malaysian ringgit, and the issuance... Continue Reading →
The FTI Consulting liquidators, appointed as joint provisional liquidators for seismic contractor Polarcus, have filed a mandatory report to the Grand Court of the Cayman Islands. The joint provisional liquidators’ (JPLs’) first report, that was required to be submitted to the court before the end of March, summarises the work undertaken since the JPLs’ appointment on 8... Continue Reading →
Offshore drilling contractors Noble Corporation and Pacific Drilling have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. It is worth mentioning that both of these companies have recently emerged from Chapter 11 bankruptcy. Pacific Drilling completed its balance-sheet restructuring and emerged from the Chapter 11 process in... Continue Reading →
Floatel International, a company providing offshore accommodation rigs for the oil and gas industry, said Wednesday it had successfully completed its comprehensive balance sheet restructuring. The company said it had secured a fully consensual deal among all key stakeholders, including its shareholders, 1L Bondholders, 2L Bondholders, and its Bank Vessel Facility lenders. In connection with... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company's shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in the state of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of US$ 59.4 million, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7 billion in funds recovered through collaboration, leniency... Continue Reading →
Brazil Energy Insight 