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A merger between Premier Oil and Chrysaor has been approved by Premier’s shareholders and the deal is expected to close by the end of the first quarter this year. Premier reached an agreement with Harbour’s UK operating company Chrysaor regarding a proposed all-share merger between Premier and Chrysaor and the reorganisation of Premier’s existing debt and... Continue Reading →
The Federal Police, in cooperation with the Federal Prosecutor's Office and the Federal Revenue Service, triggered this morning the 79th Phase of Operation Lava Jato, called “Vernissage”. About 70 federal police officers and 10 Internal Revenue Service auditors served 11 Search and Seizure warrants in Brasília / DF (2), São Luís / MA (3), Angra... Continue Reading →
Franco-American oil services firm TechnipFMC Plc said on Thursday it resumed its plan to split itself into two, after delaying the move in March. The group, created nearly four years ago via the merger of Technip and FMC, had been planning to separate its engineering and construction activities from its upstream oil services business. However, it put the... Continue Reading →
Offshore accommodation provider Prosafe is still working to resolve its financial situation with lenders and come up with a long-term solution for the company. Prosafe’s previous update on its talks with lenders on 1 October 2020 stated that the discussions were constructive and lenders, in general, maintained their support for the company to continue to operate on... Continue Reading →
Offshore drilling contractor Pacific Drilling has completed its balance-sheet restructuring and has emerged from the Chapter 11 process. Pacific Drilling said on New Year’s Day that the company and each of its debtor affiliates emerged from bankruptcy signalling the implementation of the ‘Modified First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Óleo e Gás S.A. determining the payment of approximately US$ 37 million, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately US$ 33 million, plus... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/20/2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the Dutch special purpose companies controlled by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it presented today a request for arbitration with an indemnity claim estimated at approximately R$ 800 million, against Odebrecht S.A., based on the shareholders' agreement regarding Braskem, for violations of its terms.Braskem is not part of this arbitration, which is protected by confidentiality.
Petróleo Brasileiro S.A. – Petrobras informs that it signed today with Petrorecôncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia. The sale value is US$ 30 million, being (i) US$ 4 million paid on the present date;... Continue Reading →
Brazil Energy Insight 