Legal News

 

Brazil Transfer-of-rights Area: What's Next?

Apr 11, 2019

Brazil's government and state-controlled oil company Petroleo Brasileiro SA have settled a long-running dispute about one of the world's most promising offshore oil areas, clearing the way for a blockbuster auction later this year.The national energy council announced on Tuesday that the government would pay Petrobras, as the company is known, $9.058 billion to end their contract dispute regarding the 'transfer of rights area' (TOR)…

Swiss, Brazil Try to Unravel Petrobras Affair

Apr 09, 2019

Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland…

Japan Group Buys Stake in Taiwan Offshore Wind

Apr 08, 2019

A group of Japanese investors - JXTG Nippon Oil & Energy, Sojitz Corp and other Japanese firms - have joined German wind farm developer Wpd in the 640MW Yunlin offshore wind project off Taiwan.The Japanese group will take a 27% stake in in Taiwan's Yunneng Wind Power for an undisclosed sum…

Tender Rig Specialists to Merge

Apr 08, 2019

Singapore-based tender assist rig specialist Energy Drilling and Houston-headquartered Atlantica Tender Drilling (formerly BassDrill) are planning to merge into what is expected to become the second largest tender drilling contractor.Tender rig pair signed a letter of intent (LoI) for the merger…

Eni Slander Probe Could Prompt Management Changes

Apr 05, 2019

Italy's Eni has carried out internal audits in a slander case relating in part to a Nigeria corruption scandal, and a source with knowledge of the matter said the review could prompt some management changes at the oil major.Eni and its Anglo…

Yinson Buys Ezion

Apr 02, 2019

Singapore's ailing offshore and marine firm Ezion Holdings (EHL) has found a saviour in Malaysian-listed Yinson Holdings, the world's sixth largest floating, production, storage and offloading (FPSO) operator.Yinson Eden Pte Ltd (YEPL) made…

Oregon Gov. Signs Offshore Drilling Ban Into Law

Mar 29, 2019

Oregon Governor Kate Brown on Wednesday signed a bill indefinitely blocking offshore drilling in the U.S. west coast state's territorial waters as lawmakers from several coastal states move to close their shorelines to oil and gas exploration…

SBM Offshore to Challenge $2.2 Mln Fine

Mar 29, 2019

SBM Offshore, a Dutch provider of floating production, storage and offloading units (FPSO), said on Friday it opposes financial regulators's claims that it withheld certain price-sensitive information between 2012 and 2014 related to an internal…

Award Against Eni Voided in Transocean Suit

Mar 29, 2019

A U.S. appeals court on Thursday supported a lower court's finding that Italian oil producer Eni SpA breached a contract with offshore drilling contractor Transocean Ltd, but voided a $160 million damages award.A three-judge panel found the…

Petrobras Sues Samsung Heavy Industries

Mar 27, 2019

Samsung Heavy Industries said on Wednesday that Petrobras America filed a lawsuit against the South Korean shipbuilder with a U.S. court, claiming 283 billion won ($249.32 million) in damages.Petrobras America claimed that it paid excessive charter fees for a drill ship built by Samsung Heavy…

Brazil, Petrobras Paving Way for Giant Tender

Mar 26, 2019

Brazil's government will announce 'within days' a deal with state-run oil company Petrobras to settle a multi-billion-dollar contract dispute and clear the way to auction billions of barrels of oil off of the Brazilian coast, a minister said on Monday…

Nord Stream 2 Expecting Denmark Approval

Mar 25, 2019

The Russian-led Nord Stream 2 gas pipeline company expects to receive approval from Danish authorities for a 180-km stretch of the pipeline under the Baltic Sea in time to finish the pipeline by the end of 2019 as planned, a spokesman said on Monday…

Norway Oil Exploration Refunds Are Not State Aid -ESA

Mar 20, 2019

Norway's regulations allowing oil and gas companies to claim refunds for exploration spending do not constitute state aid, the European Free Trade Association Surveillance Authority (ESA) said on Wednesday.'Having scrutinized it on the basis of a comprehensive complaint…

Brazil Likely to Pay Petrobras $10 Bln

Mar 19, 2019

The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms…

Orsted Seeks Ways to Avoid Brexit Tariffs

Mar 13, 2019

Denmark's Orsted is looking at ways to avoid potential tariffs on imports of components for its multi-billion pound British offshore wind farms in the event of a disorderly Brexit, the company's UK chief told Reuters.With only 16 days before Britain is due to leave the European Union…

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