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Petróleo Brasileiro S.A. – Petrobras, as a follow up to the release disclosed on February 8, 2021, informs that the company's Board of Directors, in a meeting held today, approved the sale of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, to Mubadala Capital for US$ 1.65 billion. The signing of... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, regarding the pieces of news published in the media, clarifies about the sale process of Landulpho Alves Refinery (RLAM) and its associated logistics assets. In all asset sale processes, Petrobras establishes a value range that guides the transaction and considers the technical and productivity characteristics and the asset's potential to... Continue Reading →
(Bloomberg) --A former Glencore Plc trader was charged by U.S. authorities with conspiracy to manipulate a key oil price benchmark, the latest sign that prosecutors around the world are stepping up their scrutiny of the notoriously opaque commodity trading industry. U.S. prosecutors alleged that Emilio Heredia, a former Glencore employee, directed buy and sell orders... Continue Reading →
Offshore drilling contractor Vantage Drilling has received court approval for a previously proposed deal which entails Vantage managing some of the rigs owned by Seadrill Partners. Vantage said Friday it had has entered into a Framework Agreement and related Management and Marketing Agreements with Seadrill Partners LLC (“Seadrill Partners”) under which Vantage’s subsidiaries will provide operating, management... Continue Reading →
(Reuters) - Mexico is looking to renegotiate some of its hundreds of millions of dollars-worth of contracts with Vitol SA after the global energy trader acknowledged paying kickbacks to win business with state oil company Pemex, Reuters has learned. The dispute in Mexico, the world’s fourth-largest importer of refined oil products, is part of the... Continue Reading →
(Reuters) - Brazil’s lower house approved a new regulatory framework for the natural gas sector in the early hours of Wednesday, a move the government hopes will increase competition in the industry. The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro. “In this difficult moment, this... Continue Reading →
UK’s Expro Group, an energy services company, and Dutch Frank’s International, an oil services company that provides drilling and completions solutions and services, have entered into a definitive agreement to combine in an all-stock transaction. Upon the closing of the transaction, Expro shareholders will own approximately 65 per cent of the combined entity, with Frank’s... Continue Reading →
Offshore drilling contractor Valaris has obtained court approval for its Chapter 11 plan of reorganization and agreed with a South Korean shipyard to delay the delivery of two drillships. To remind, Valaris filed for bankruptcy protection in an attempt to restructure its debt back in August 2020. In late September 2020, the rig owner executed a new term... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that it has received R$ 360 million (US$ 65 million) last week related to the leniency agreement executed by Samsung Heavy Industries. This cash arises from the first installment of the Samsung agreement of a total amount of R$ 705.9 million that will be applied to the reimbursement for... Continue Reading →
South Korean shipbuilder Samsung Heavy Industries agreed to pay 812 million reais ($148.56 million) in a leniency deal with Brazilian authorities to settle corruption investigations, federal prosecutors said late on Monday. On its website, the prosecutor's office said the deal was part of a global negotiation between the company and U.S. and Brazilian authorities to... Continue Reading →
Brazil Energy Insight 