Offshore drilling contractor Seadrill Limited has elected a new CFO and a new COO as well as a new director to its board as the company prepares to take the next steps in its financial restructuring. Seadrill on Thursday announced the appointment of Grant Creed as Chief Financial Officer and Leif Nelson as Chief Operating Officer, both effective immediately.... Continue Reading →
France’s Total to face climate plan pressure at investor meeting
(Reuters) Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world... Continue Reading →
The little engine that could, and the oil giant that couldn’t
(Reuters) Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million stake in what was once the world’s largest publicly traded company. Just six months later,... Continue Reading →
Pão de Açúcar FPSO to have innovative topside gas treatment module
(epbr) Production at Pão de Açúcar, discovered at BM-C-33, pre-salt in the Campos Basin and operated by Equinor Brasil (35%), will have an unprecedented natural gas treatment system installed on the topside of the production platform itself. It was the solution found to deal with the great potential for natural gas production associated with the... Continue Reading →
Seadrill Partners Emerges from Chapter 11 Bankruptcy
Seadrill Partners, an affiliate of offshore drilling firm Seadrill, said Tuesday it had emerged from Chapter 11 bankruptcy for which it had filed in December 2020. The company said it has successfully completed its reorganization, turning around $2.8 billion in funded debt obligations into equity, and leaving the company debt-free on emergence. As part of the reorganization plan, new... Continue Reading →
Petrobras on RefTOP Refining Program
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/18/2020, informs that it is launching the RefTOP - World Class Refining program with the objective of being among the best oil refining companies in the world. RefTOP consists of a set of initiatives that seek to implement improvements to increase the efficiency... Continue Reading →
Petrobras on Chief Governance and Compliance Officer
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 03/24/2021, informs that the new Chief Governance and Compliance Officer, Salvador Dahan, took office today. Mr. Salvador Dahan has a Bachelor of Law from Mackenzie University, with an MBA in Business Security Management from FECAP and a post-graduate degree in Business and Community... Continue Reading →
Sonadrill Nets 12-well Drillship Contract in Angola
Angolan offshore drilling firm Sonadrill, the 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a twelve-well contract in Angola for the Sonangol Quenguela drillship. The contract includes one option for nine wells and eleven one well options, Seadrill said Friday. Total contract value for the firm portion of the contract for... Continue Reading →
Petrobras Financial Performance in 1Q21
Petrobras posted solid financial and operating results in 1Q21. Regarding 1Q21 results, Petrobras’ CEO Joaquim Silva e Luna made the following comments: “The figures show the capacity of our team to deliver sustainable results to our investors and to society, even in a challenging environment. Petrobras will continue down the path of value generation, with... Continue Reading →
3R Petroleum approves partnership with DBO to seek acquisitions of offshore assets
(Reuters) 3R Petroleum Oil and Gas reported that its board approved the formalization of a partnership with DBO under which the companies agree to jointly capitalize 3R Petroleum Offshore, new name of OP Energia, and to join efforts to seek acquisition opportunities. The company will seek, through the partnership, to expand its operations in offshore... Continue Reading →
