Indebted offshore driller Seadrill Limited has made changes to its credit facilities to insulate Seadrill Partners, a limited liability company formed by Seadrill Limited to own drilling rigs, from its restructuring. Seadrill Limited informed on Thursday it has completed amendments to three secured credit facilities that relate to rigs bought by Seadrill Partners from the company... Continue Reading →

Offshore drilling contractor Vantage Drilling International said on Wednesday an investigation into the company’s possible violations of the Foreign Corrupt Practices Act regarding alleged improper payment in Brazil had been completed. The company said it had received a letter from the United States Department of Justice  acknowledging Vantage’s full cooperation in the DOJ’s investigation concerning... Continue Reading →

Danish oil company Maersk Oil increased its profit and revenues for the second quarter of 2017 helped by higher oil prices and lower costs.  According to a financial report on Wednesday by Maersk Oil’s parent company, A.P. Moller – Maersk, Maersk Oil recorded an underlying profit of $184 million in the second quarter of 2017,... Continue Reading →

  The ANP decided to extend for 30 days (until September 18) the period of Public Consultation No. 20/2017, which aims to collect subsidies for the edition of the resolution that will govern the criteria applicable to requests for exemption from compliance with the Local Content obligation , Adjustment and transfer of surplus, in addition... Continue Reading →

August 15, 2017 Shell is expected to start operating the Lena Knutsen vessel in Brazil in September. The contract of the vessel lasts for five years, with the option of extending the agreement for another two periods of five years. The naval assets belong to the British company KNOT Offshore Partners. The Norwegian-flagged vessel was... Continue Reading →

 Mexico's attorney general's office has called a close former aide of President Enrique Pena Nieto to respond to accusations he was involved in Brazilian builder Odebrecht's corruption scandal, a lawyer for the aide said. Brazil's O Globo newspaper reported this weekend on documents alleging that Emilio Lozoya, who also formerly headed state oil company Pemex,... Continue Reading →

Brazil's government loosened its budget targets for all years through 2020 on Tuesday, delaying prospects for a drop in the federal deficit after legislators repeatedly refused to raise taxes in the recession-hit economy. Cost-cutting measures were announced along with the new targets, in a bid to demonstrate President Michel Temer's commitment to fiscal discipline even... Continue Reading →

Transocean Ltd. agreed to buy Songa Offshore SE in the biggest offshore drilling industry deal since oil prices collapsed three years ago. The enterprise value is about $3.4 billion, half of which is Songa debt assumed by the combined entity, the companies said. The 47.5 kroner ($5.96) a share offer implies an equity value for Norway’s Songa of... Continue Reading →

  The main beneficiary will be the Campos Basin, which had 80% of Brazil's total oil production, but today accounts for only 50%   The National Petroleum Agency (ANP) is concerned about the drop in oil production - about 30 percent - in the oldest post-salt fields that are facing the natural decline. To stimulate... Continue Reading →

Aug 14, 2017 Prumo Logística, a company that develops and operates Açu Port, and its subsidiary Gás Natural Açu (GNA), have signed a contract with Siemens for the development, implementation and operation of the UTE GNA I, Regasification Terminal of Açu, and other potential projects in the Açu Port Industrial Complex. Siemens will acquire, for... Continue Reading →