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Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held today, approved the adhesion to the ICMS debt and interest penalty reduction programs (Amnesties), according to the CONFAZ regulations ICMS 146/2019 and 51/2020, instituted by the states Espírito Santo and Rio de Janeiro, respectively. The total amount of contingencies to... Continue Reading →
The Supreme Federal Court (STF) has decided that Petrobras can proceed with the sale of half of its refining park. The voting score ended 6 to 4 in favor of the oil company. As is well known, the judgment on the theme in the Court originated after the Senate and Chamber of Deputies questioned the... Continue Reading →
Petrobras' asset portfolio reorganization program, which foresees the sale of eight refineries, is vital to the health of the company that remains the "most indebted oil company in the world", said the lawyer for the state-owned company, Tales David. Macedo, in support of the Federal Supreme Court (STF). The judgment, in an action against sales... Continue Reading →
(Reuters) - Liquefied natural gas firm Hygo Energy Transition Ltd HYGO.O has postponed its planned New York initial public offering for several weeks and may scrap the listing entirely after its CEO was named in the early stages of a corruption investigation in Brazil, two sources familiar with the matter said. Eduardo Antonello, who has not been... Continue Reading →
Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation involving him in Brazil. Golar said Antonello's leave was in no way linked to any action or misconduct during his tenure at Hygo Energy, a liquefied natural gas transport... Continue Reading →
In view of the facts revealed in the 75th phase of Operation Lava Jato related to the Golar Power Group, Petrobras informs that a review of this supplier's Integrity Analysis is in progress. This analysis is done regularly with all the company's suppliers and assigns different Degrees of Integrity Risk (GRI). Any change in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 24, 2020, informs that its Executive Board approved a second alteration to the deadline for certain precedent conditions set forth in the agreement with Seven Brazil to be implemented. Thus, the effectiveness of the agreement and other related contracts will depend on... Continue Reading →
Offshore drilling contractor Seadrill said Thursday its Brazilian subsidiary had been served with a search and seizure warrant in relation to a bribery investigation. "Seadrill Limited confirms that today its subsidiary Seadrill Serviços de Petroleo, Ltda was served with a search and seizure warrant from the Federal Police in Rio de Janeiro, Brazil as part... Continue Reading →
For the first time, Operation Lava Jato investigates the Exploration and Production sector at Petrobras. The Federal Police carried out 25 search and seizure warrants in the 75th phase of the operation, named Boeman - a reference to the mythical creature from Holland popularly known as the bogeyman. Twenty warrants are being fulfilled in Rio... Continue Reading →
Sept 16, 2020 A group of Seadrill's creditors has agreed to let the offshore drilling rig operator suspend interest payments this month as part of an ongoing effort to restructure its $7.3 billion debt, the Oslo-listed company said on Wednesday. Seadrill, which has so far failed to convince its 43 bank lenders to permanently adjust... Continue Reading →
Brazil Energy Insight 