12/14/2015 Rio de Janeiro, December 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 532/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 532/2015/CVM/SEP/GEA-1 “1. We refer to the news item published today in the Empresas (Companies) section of the newspaper Valor Econômico, entitled: Petrobras enfrenta dificuldades para vender até ativos do... Continue Reading →
Oil Rout to Claim More Victims After First Norwegian Bankruptcy
The collapse of oil prices has claimed its first bankruptcy victim in Norway’s offshore industry, and analysts warn more may follow. Dolphin Group ASA, a seismic surveyor that maps the seabed for oil and gas reservoirs, became the first Oslo-listed company in the industry to file for bankruptcy Monday. One of its competitors, Polarcus Ltd.,... Continue Reading →
Petrobras – Clarification on News: Sale of Libra
12/11/2015 Rio de Janeiro, December 11, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 531/2015/CVM/SEP/GEA-1 which requests the following clarifications: Official Letter 531/2015/CVM/SEP/GEA-1 “We refer to the news item published on December 9, 2015 in the Negócios (Business) section of the Reuters Brasil website, entitled Petrobras oferece vender até 10% da... Continue Reading →
Seismic Surveyor Dolphin Files for Bankruptcy as Oil Woes Spread
Dolphin Group ASA, a Norwegian seismic surveyor that maps the seabed for oil and gas reservoirs, filed for bankruptcy as the collapse in crude prices claimed another victim. The Oslo-based company failed to reach a agreement with bondholders, banks and other stakeholders to restructure its debt and capital structure after months of talks and will... Continue Reading →
Brazil’s Petrobras says not considering Libra area sale
Brazil's Petroleo Brasileiro SA (PETR4.SA), or Petrobras, is not considering selling a 10 percent stake in its giant Libra offshore oil prospect at this time, the state-run oil company said on Friday. Petrobras was responding to a report on Tuesday by Reuters that two industry sources had been told by the company that the Libra... Continue Reading →
Repsol and Statoil agree asset swap deal in Brazil
In Brazil, Repsol is proposing that Statoil replace it as operator of the BM-C-33 block in the deepwater Campos Basin, with Repsol-Sinopec Brazil keeping a 35 per cent stake in the project. This basin is part of the vast pre-salt oilfields off Brazil’s east coast.
Petrobras has difficulty in selling 10% of the Libra field.
Apparently, all participants of the Libra field, Shell, Total, CNPC and CNOOC, have turned down the opportunity to purchase an additional 10% held by Petrobras. Having giving the participants first right of refusal, Petrobras will need to look elsewhere for a buyer. Might prove to be a difficult task in today's market.
BTG Pactual faces rocky exit in some Esteves bets, hurting Brazil
SAO PAULO, Dec 10 When Grupo BTG Pactual SA took control of apparel and home furnishing retailer Leader Participações SA about three years ago, it looked like a classic turnaround play: a threadbare chain that could be revamped to serve Brazil's burgeoning middle class. Of all BTG Pactual's investments, the most painful is Sete... Continue Reading →
Brazil’s ANP asks govt. to extend Petrobras’ Marlim field rights
Dec 10, 2015 Reuters Brazil's ANP asks govt. to extend Petrobras' Marlim field rights RIO DE JANEIRO Dec 10 Brazil's oil industry regulator ANP on Thursday asked the government to extend the concession to operate the giant Marlim offshore oil field of state-run oil company Petroleo Brasileiro SA that is scheduled to expire in 2025.... Continue Reading →
Offshore Supply Boats Facing Distress With Drop in Drilling Rigs
The relatively unheralded corner of the oil sector that sends supply boats out to offshore oil rigs may see bankruptcies as the worst crude market downturn in decades spreads. More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, according to research released Tuesday from... Continue Reading →
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