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Expecting a challenging winter season in the North Sea, Solstad in late October decided to begin negotiations with lenders and other stakeholders to improve the overall liquidity situation. Solstad in early December started negotiating a potential agreement whereby interest and amortizations on financial debt of the Solstad Offshore group would be temporarily suspended and deferred starting December 20,... Continue Reading →
Photo credit: Mr. Saulo Cruz Minister of Mines and Energy Moreira Franco received today from the hands of Mr. Andy McDowell, vice president of the publisher Gulf Energy Information, World Oil, which publishes the magazine Petroleum Economist, the tribute of "Minister of the Year of 2018". The Petroleum Economist Award was created in 2014. Energy... Continue Reading →
A Brazilian Supreme Court justice issued a ruling on Wednesday that could lead to the release of ex-President Luiz Inacio Lula da Silva, who was jailed this year on a corruption conviction. Lula was jailed in April after being sentenced to more than 12 years in prison, and faces six other trials for alleged corruption.... Continue Reading →
12/17/2018 | 18h48 President Michel Temer signed a decree that implements some of the proposals for the Gás para Crescer initiative, which do not depend on a modification of the Law. The new legal instrument reviews Decree No. 7,382, of December 2, 2010, which regulates the Gas Law (Law No. 11,909 of March 4, 2009).... Continue Reading →
12/19/2018 | 09:09 The National Council for Energy Policy (CNPE) today published (18/12), in the Official Gazette of the Union, Resolutions 17 and 18/2018, which authorize ANP to hold, respectively, the 16th Round of Bids for blocks and the production of oil and natural gas in the concession modality and the 6th Round of Bids... Continue Reading →
The seven contracts related to the blocks sold at the 4th and 5th Production Sharing Rounds at the Ceremony on the Advances in the Oil and Gas Sector - Cycle 2016-2018, held at the Palacio do Planalto During the ceremony, presided over by the President of the Republic, contracts were signed by Minister of Mines... Continue Reading →
Canada’s CGX Energy has decided to use one of Rowan-owned jack-up drilling rigs for drilling operations offshore Guyana. CGX Energy said on Monday that its wholly owned subsidiary, CGX Resources, had entered into a definitive rig agreement with Rowan for the provision of rig services for the drilling of the company’s Utakwaaka-1 well in its... Continue Reading →
Brazilian Fifth Chamber has approved an agreement between the country’s prosecutor and Dutch FPSO operator SBM Offshore regarding legal proceedings against the company related to legacy bribery issues in Brazil. The leniency agreement with the Brazilian Federal Prosecutor’s Office (Ministério Público Federal – MPF) of September 1, 2018, has been approved by the Brazilian Fifth Chamber for... Continue Reading →
Rio de Janeiro, December 18, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved in a meeting held today, to submit for the analysis of the Secretariat for the Coordination and Governance of State-Owned Enterprises ("SEST") the proposal for a new pension plan called Petros 3 Plan ("PP3") set up... Continue Reading →
Rio de Janeiro, December 18, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved in a meeting held today, the advance distribution of earnings to shareholders as Interest on Capital (IOC), as defined in article 9, sole paragraph of its bylaws and article 9 of Law 9,249/95. The amount to... Continue Reading →
Brazil Energy Insight 