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Sembcorp Marine Ltd., which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private. The world’s second-largest builder of oil rigs on Monday reported a net loss of S$537 million ($384 million) for the three months... Continue Reading →
Paragon Offshore Plc, the oil services company spun off just as crude began its plunge, filed for bankruptcy protection after announcing deals to reorganize its debt and avoid protracted legal battles involving its former parent, Noble Corp. Houston-based Paragon is the latest casualty of an oil market that has fallen more than 70 percent since June 2014, just... Continue Reading →
Sete Brasil Participacoes SA’s creditors, including Banco do Brasil SA and Itau Unibanco Holding SA, received 2.68 billion reais ($670 million) from a government-backed fund and will likely tap about 1.58 billion reais more, according to a person familiar with the matter. Creditors withdrew the money from the fund created with government assets in 2008 after... Continue Reading →
This is the first time that Dilma Rousseff and the federal govt. are willing to discuss changes in the Pre Salt legislature , which includes Petrobras role as sole operator of the pre salt fields and the local content rule. Senate president, Renan Calheiros, had previously confirmed that the bill written by senator Jose Serra... Continue Reading →
Europe's largest oil company, expects to make robust investments in Brazil's offshore, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday. CEO Ben Van Beurden spoke in Brazil shortly after Shell's $52 billion takeover of rival BG Group Plc BG.L, approved in late... Continue Reading →
Royal Dutch Shell Plc. has made Brazil one of its top three countries after completing a merger with BG Group Plc, and sees the South American nation’s deep-water fields remaining competitive for years to come. Brazil “will remain a key destination country for us for investment dollars for at least another decade,” Chief Executive Officer... Continue Reading →
Shell Surpasses Chevron to Become No. 2 Oil Company: Chart Rakteem Katakey February 15, 2016 \ Bloomberg Royal Dutch Shell Plc has surpassed Chevron Corp. as the world’s second-biggest non-state oil company after completing the acquisition of BG Group Plc. The purchase raises Shell’s market capitalization to $177 billion and adds new assets in Australia and... Continue Reading →
Feb 15, 2016 Reuters Royal Dutch Shell (RDSa.L), Europe's largest oil company, believes that investment in Brazil's subsalt offshore areas will remain robust, Chief Executive Ben van Beurden said in Rio de Janeiro on Monday. Van Beurden said that subsalt areas should be able to break even at oil prices expected this year. The... Continue Reading →
Sembcorp Marine Ltd., the world’s second-largest builder of oil rigs, posted its first quarterly loss in at least 12 years after it took a one-time charge and as plunging oil prices pushed customers to delay or cancel orders for offshore drilling projects. The net loss in the fourth quarter totaled S$537 million ($384 million), the... Continue Reading →
Iran and Brazil are in talks about a possible Iranian investment in troubled refinery projects controlled by Brazilian state-led oil company Petroleo Brasileiro SA, a Brazilian government source told Reuters on Thursday. Iran, which is boosting oil output after the end of sanctions over its nuclear program, is interested in exporting oil to Brazil, processing... Continue Reading →
