Offshore drilling contractor Seadrill has added approximately $52 million to its backlog following the end of the third quarter of 2020. Seadrill is also looking to manage its rig count by recycling some of its rigs as it prepares for a prolonged period of low offshore activity and demand. Seadrill said on Friday that the Sevan... Continue Reading →
Ibama launches standard term of reference for offshore wind energy complexes
The Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) launched the Standard Term of Reference (TR) for Offshore Wind Energy Complexes. This TR brings the scope of what the entrepreneur should present in his study of environmental impact to attest the feasibility of this type of renewable energy enterprise, thus bringing clarity and... Continue Reading →
Chevron looks to Biden to preserve its Venezuela foothold
(Bloomberg) --Chevron’s willingness to keep a foothold in oil-rich Venezuela will now be a thorny political issue for President-elect Joe Biden to sort out. The U.S. Treasury Department extended until June 3 its authorization for Chevron to carry out essential transactions in the country to preserve its assets, from a previous Dec. 1 deadline. Since... Continue Reading →
UK Fraud Office Secures Assets Linked to Brazilian Bribery Scandal
The UK Serious Fraud Office (SFO) said on Thursday it had secured just under 1.2 million pounds ($1.6 million) from a Brazilian national implicated in Brazil's "Operation Car Wash", the country's biggest bribery investigation that began in 2014. The SFO said it opened a civil recovery investigation into Julio Faerman in 2015 after the former... Continue Reading →
Petrobras on agreement with Sete Brasil
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 28, 2020, informs that its Executive Board approved a new change in the deadline for certain conditions set forth in the agreement signed with Sete Brasil to be implemented. Thus, the effectiveness of the agreement and of the other related contracts will... Continue Reading →
Petrobras on partial overturn of arbitral award
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on July 21 and 29, August 26 and October 9, 2020, hereby informs that a judicial decision was issued at the end of yesterday, by the 5th Business Court of Rio de Janeiro, which annulled, due to serious flaws and improprieties, the partial sentence... Continue Reading →
Noble Corp. preparing to emerge from bankruptcy
Offshore drilling contractor Noble Corporation is preparing to emerge from Chapter 11 bankruptcy with a temporary name change to allow continued use of its name upon emergence. Noble Corp. said last Friday it had changed its name to Noble Holding Corporation plc to allow the ultimate parent company that emerges from Chapter 11 reorganization to... Continue Reading →
Petrofac closes sale of Mexican operations but plans legal action against Perenco
Oilfield services provider Petrofac has completed the disposal of its non-core assets in Mexico to Perenco, but the two companies have entered into a dispute related to this transaction. Petrofac first sold a 49 per cent of its operations in Mexico to Perenco back in October 2018. This included contracts for work on the Santuario and... Continue Reading →
Transocean books third quarter profit
Offshore drilling contractor Transocean booked a profit in the third quarter of 2020 backed by a gain on restructuring and retirement of debt, offset by a loss on disposal of assets. Transocean on Monday reported a net income attributable to controlling interest of $359 million for the third quarter of 2020 compared to a loss a year... Continue Reading →
Petrobras approves Guide to Ethical Conduct for suppliers
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Brazil Energy Insight 