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Sept 3, 2020 Total started a new environmental licensing process for drilling seven exploratory wells in the area of blocks FZA-M-57, FZA-M-86, FZAM-88, FZA-M-125 and FZA-M-127, in the Basin of Foz do Amazonas. The company was forced to restart the licensing of the projects after the environmental agency dismissed, in April last year, the reconsideration... Continue Reading →
Venezuelan state oil company PDVSA and Italy's Eni are looking at options to safely offload crude from a floating storage facility on Venezuela's eastern coast that has remained idle for over a year due to U.S. sanctions, according to sources close to the discussions. The companies suspended output at their joint venture Petrosucre shortly after... Continue Reading →
August 28, 2020 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved the 2019 Annual Letter of Public Policy and Corporate Governance. The Annual Letter is a requirement of Law 13.303/2016 and Decree 8.945/2016 and is in line with the transparency requirements required by legislation. This Letter is intended for the general... Continue Reading →
August 26, 2020 Petróleo Brasileiro S.A. – Petrobras, in continuity to the notices to the market released on July 21 and July 29, 2020, hereby announces that a judicial decision was issued today in favor of the Company, determining the immediate suspension of the arbitration proceeding filed by Fundação Petrobras de Seguridade Pessoal (Petros) and... Continue Reading →
Brazilian prosecutors pressed charges on Friday against two people for an alleged scheme to obtain confidential market information from Petrobras to benefit A.P. Moller-Maersk, the world's largest shipping company. The case stems from an investigation that started in 2014 as part of Brazil's sprawling Car Wash scandal, which has since included suppliers like Maersk and... Continue Reading →
Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. The Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas comes after the company... Continue Reading →
August 10, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated July 29, 2020, informs that today it paid Fundação Petrobras de Seguridade Social (Petros) R$ 950 million, regarding the full amount of the agreement with Petros on the arbitral dispute related to the investment in Sete Brasil. The agreement extinguished the dispute... Continue Reading →
August 4, 2020 Petróleo Brasileiro S.A. – Petrobras, further to the notices to the market dated June 22, 2020 and July 21, 2020, hereby announces that the 1st Business Court, which deals with Conflicts related to Arbitration of São Paulo has extinguished the action for specification of judicial mortgage filed by Caixa de Previdência dos... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors approved, in a meeting held today, an agreement with Fundação Petrobras de Seguridade Social (Petros), which aims to end the arbitral dispute proposed by Petros in order to obtain compensation from Petrobras for alleged material damages related to the investment in... Continue Reading →
A former head of Mexico’s PEMEX is testifying that lawmakers were bribed to pass a 2014 reform that opened the energy sector to private investment, President Andres Manuel Lopez Obrador said on Friday. Lopez Obrador said that Emilio Lozoya, who was extradited from Spain this month to face corruption charges in Mexico, is shining light... Continue Reading →
Brazil Energy Insight 