Petróleo Brasileiro S.A. – Petrobras, further to the press release dated January 29, 2020, announces that the District Court of Rotterdam (the Court) yesterday rendered an interim judgment regarding the admissibility of the collective action filed in 2017 by Stichting Petrobras Compensation Foundation (the Foundation) in the Netherlands against Petrobras and other defendants. The Foundation... Continue Reading →
Seadrill positions for future with key executive changes
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 →
Nigeria Renews Offshore Lease OML 118 with Shell, Total, Exxon, Eni
The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 [Bonga] with the local subsidiaries of Shell, Total, Exxon, and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the... Continue Reading →
Landmark Ruling: Dutch Court Orders Shell to Deepen Carbon Cuts
(OE) A Dutch court on Wednesday ordered Royal Dutch Shell to significantly deepen its planned greenhouse gas emission cuts, in a landmark ruling that could pave the way for legal action against energy firms around the world. At a courtroom in The Hague, judge Larisa Alwin read out a ruling which ordered Shell to reduce... Continue Reading →
Karoon in dispute with Peru partner over second offshore well
Australia’s Karoon Energy has received a dispute notice from a partner in its operated Block Z-38, offshore Peru, due to an alleged breach of obligations related to the drilling of a second exploration well on the block. Karoon’s wholly-owned subsidiary, KEI (Peru Z‐38) Sucursal del Peru, owns a 40 per cent operating equity interest in... Continue Reading →
Crondall assigned technical consultant role on Liza Unity FPSO
Consulting organisation Crondall Energy has been awarded a technical consultant role on the SBM Offshore-owned Liza Unity FPSO destined for ExxonMobil’s project off Guyana. Crondall said on Tuesday it would be supporting MUFG Bank Ltd (MUFG) as lenders’ technical consultant for the Liza Unity FPSO project financing. MUFG is acting as a technical bank on... Continue Reading →
Shearwater Hires DOF Subsea’s Vessel, ROV for OBN Survey in Brazil
Marine seismic contractor Shearwater Geoservices has awarded subsea support vessel operator DOF Subsea contracts a vessel and an ROV contract for seismic support work in Brazil. DOF Subsea's Skandi Neptune vessel will support Shearwater's Ocean Bottom Node seismic campaigns on Petrobras' Jubarte, Tupi, and Iracema fields offshore Brazil. The Skandi Neptune, currently in Norway, is... Continue Reading →
PETROBRAS STARTS DRILLING IN A CAMPOS BASIN BLOCK WITH OIL POTENTIAL IN PRE-SALT RESERVOIR
The exploratory activity in the Campos Basin gained new impetus. Petrobras started drilling the well 1-BRSA-1380D-RJS, in a water depth of 2,849 meters, in block C-M-346. The area was purchased in 2018, in the 14th Bidding Round. As a reminder, this block was the star of that bid for having received the highest bid in... Continue Reading →
