Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday. The lawsuit requests that a judge freeze almost 1 billion reais ($198 million) in assets in order to make sure funds... Continue Reading →
Mexico to investigate Vitol bribe allegations, president says
(Reuters) - Mexican President Andres Manuel Lopez Obrador said on Thursday his government will investigate allegations bribes were paid by the U.S. subsidiary of the world’s largest independent oil trader Vitol to state oil firm Petroleos Mexicanos (Pemex). Lopez Obrador, speaking at a news conference, said the accusations by the U.S. Justice Department related to... Continue Reading →
PETRORIO RESOLUTIONS OF THE EXTRAORDINARY SHAREHOLDERS’ MEETING
Petro Rio S.A. (“Company”) hereby informs its shareholders and the market in general, in compliance with CVM Instruction No. 358, of January 03, 2002, in addition to the Material Facts “Restatement of the Financial Statements” and “Resolutions of the Board of Directors’ Meeting” disclosed on August 27 2020 and November 3, 2020, respectively, that, on... Continue Reading →
Petrobras on favorable decision in arbitration
Petróleo Brasileiro SA - Petrobras informs that it received, on this date, a favorable partial decision in one of the arbitrations proceeding before the Market Arbitration Chamber (CAM) of B3, initiated by foreign investors who claim financial losses caused by the facts revealed at Lava Jato. This decision promoted the definitive exclusion of seventeen investors... Continue Reading →
Petrobras on Extraordinary General Meeting
Petróleo Brasileiro S.A. – Petrobras informs that the Extraordinary General Meeting, held today, at 3:00 pm, exclusively under the digital format, analyzed and approved, by majority vote, the following: I. Amendments to Petrobras' By-Laws and consequent consolidation of the By-Laws, to amend Articles 17, 22, 23, 27, 30, 34 and 47 as proposed by Management.... Continue Reading →
Seadrill Partners Files for Chapter 11 Bankruptcy Protection
Seadrill Partners LLC said on Tuesday it had filed for Chapter 11 bankruptcy protection as a means to restructure its debt, in another sign of financial difficulties for the wider Seadrill Ltd oil drilling rig group. "The company intends to use the bankruptcy process to ensure that all customer, vendor and employee obligations are met without interruption... Continue Reading →
Brazil prosecutors sue Trafigura over irregular Petrobras contracts: statement
(Reuters) - Brazilian federal prosecutors have filed a lawsuit seeking damages from oil trading company Trafigura and former executives on corruption allegations involving Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras), according to a statement on Monday. The prosecutors are also seeking a court order to freeze 1 billion reais ($187.55 million) of the defendants’... Continue Reading →
Petrobras on divestment of Gaspetro
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on November 27, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), clarifies that the company Compass Gás Energia S.A. (Compass) was not qualified for the continuation of the divestment process of 51% of Gaspetro capital stock for not meeting the requirements of the Commitment... Continue Reading →
Creditors allow Seadrill suspension of pay under leases for three rigs
While trying to restructure its debt, offshore drilling contractor Seadrill has managed to agree on the suspension of payments with creditors related to leasing arrangements for three drilling rigs and the corresponding financing agreements. Seadrill said last Friday it had entered into forbearance agreements with certain creditors in respect of the group’s senior secured credit... Continue Reading →
Bankruptcy court approves Noble’s reorganization plan
Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan. Noble Corp. filed for Chapter 11 bankruptcy protection to restructure its debt in early August 2020 following a severe downturn in commodity prices amid Covid-19 pandemic. The company then in early November 2020 changed its name to Noble Holding Corporation... Continue Reading →
Brazil Energy Insight 