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SBM Offshore is pleased to announce the successful pricing of an US$850 million non-recourse senior secured notes transaction in a 144A/Reg S offering by a subsidiary company. The issuer of the notes is Guara Norte S.à r.l. (Guara Norte), which owns the FPSO Cidade de Ilhabela. SBM Offshore owns 75% of the equity in Guara... Continue Reading →
Struggling seismic player Polarcus, which last week saw creditors take over its vessels following a debt payment default, on Tuesday said a Cayman Islands court has appointed joint provisional liquidators, after the company's application. "The Board remains focused on pursuing a restructuring of its indebtedness and maintaining the underlying business as a going concern. Discussions between... Continue Reading →
Malaysian offshore energy services firm Sapura Energy said that its Brazilian joint venture with Seadrill is not affected by Chapter 11 cases filed by several Seadrill subsidiaries operating in Asia. Sapura Energy said it was responding to media reports linking its Brazilian JV Sapura Navegacao Maritima to Chapter 11 cases unrelated to that particular joint venture. "[Sapura... Continue Reading →
(Reuters) - France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled during... Continue Reading →
- Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of January. Obs.: (1) Frade figures account for a 70% interest in the Frade Field. On February 5, 2021, the Company announced the closing of the acquisition... Continue Reading →
Offshore drilling contractor Valaris has reached an agreement with lenders related to its restructuring support agreement and backstop commitment agreement, bringing the company one step closer to emerging from the Chapter 11 process. To remind, Valaris filed for bankruptcy protection in an attempt to restructure its debt back in August 2020. In late September 2020, Valaris executed... Continue Reading →
New preparations for the entry into operation of the Rota 3 gas pipeline, which will take the pre-salt gas to the Gaslub Itaboraí pole (formerly Comperj). Petrobras announced that it had asked Ibama for the operating license for the shallow and onshore maritime stretches of the line, which may start operating later this year. The... Continue Reading →
Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemic, but the overall results were nevertheless positive, a Rystad Energy analysis reveals. The success rate rose to 41 per cent from 32 per cent in 2019 and pushed discovered volumes to 3.2 billion barrels of oil equivalent (boe),... Continue Reading →
(Reuters) - Oil prices rose on Monday to their highest in just over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can boost demand. Brent was up 71 cents, or 1.2%, at $60.05 a barrel by 0943 GMT,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has concluded the final round of the binding phase of the sale process of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, in which Mubadala Capital presented the best final offer in an amount of US$ 1.65 billion. The signing of the purchase and... Continue Reading →
