Legal News

 

Court Order Threatens Leviathan Output

Dec 18, 2019

Companies developing the huge natural gas field Leviathan will try to convince an Israeli court on Wednesday to remove an injunction that threatens to delay production due to environmental concerns.On Tuesday, the Jerusalem District Court, in a surprise decision…

Far Expects Outcome Over Senegal Dispute in 2020

Dec 16, 2019

Australian oil minnow FAR Ltd on Monday said it does not expect to receive the final outcome of a long-running dispute with Woodside Petroleum regarding an oil field off Senegal until January or February next year.The arbitration ruling was due by December 28…

Cyprus Petitions The Hague to Safeguard Offshore Rights

Dec 06, 2019

Cyprus has petitioned the International Court of Justice (ICJ) in The Hague to safeguard its offshore mineral rights, its president said on Thursday, upping the ante with neighbor Turkey which disputes its claims.Cyprus's internationally recognized…

Norway Wealth Fund Drops Petrobras from Watchlist

Dec 04, 2019

Norway's $1 trillion sovereign wealth fund has removed Brazilian oil firm Petrobras from a watchlist of firms that could be dropped as investments due to ethical concerns, the central bank said on Tuesday.Petrobras was put under observation in 2016 over corruption risks…

OPEC, Other Stakeholders May Adjust Output Quotas

Nov 27, 2019

Russian Energy Minister Alexander Novak said on Wednesday the forthcoming meeting of OPEC and other large oil producers may discuss adjusting oil output quotas at a next-month meeting, local news agencies reported.'We don't rule out discussing various issues…

Solveig buys oilfield operator Capricorn from Cairn

Nov 27, 2019

Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing its transformation into a North Sea field operator, Solveig's owner HitecVision said on Wednesday.The private equity…

SHI to Pay $75 Mln to Resolve Bribery Case

Nov 25, 2019

Samsung heavy industries Co Ltd has agreed to pay more than $75 million in criminal penalties to resolve a U.S. investigation of a scheme to pay millions of dollars in bribes to officials in Brazil, the U.S. Justice Department said on Friday…

Court Reviewing Bourbon Takeover Bids

Nov 22, 2019

Takeover offers for the assets and activities of French offshore services company Bourbon will be reviewed by the Marseilles Commercial Court next month, Bourbon said in a a company update.Four candidates have submitted an offer concerning assets…

Comment: DWRRA Helped Spur Modern US Offshore

Nov 21, 2019

NOIA President Erik Milito weighs in after Congressional Democrats introduced the Stop Giving Big Oil Free Money Act, which the lawmakers say will repeal 'a loophole' in the Deepwater Royalty Relief Act of 1995 (DWRRA) that allowed oil and gas…

Sarawak Seeks to Recoup Tax from Petronas

Nov 21, 2019

Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.National news agency Bernama reported that the company…

BW Offshore Completes Bond Issue

Nov 18, 2019

BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo…

Turkish Drillship Begins Drilling off NE Cyprus

Nov 15, 2019

The Turkish oil-and-gas drilling ship Fatih has started its operations off the coast of northeastern Cyprus, Turkish vice president Fuat Oktay said on Friday, despite warnings from European Union for Ankara to stand down.On Monday, the EU Foreign…

PetroNor Opts for Arbitration in Senegal

Nov 07, 2019

Listed independent oil and gas exploration and production company PetroNor E&P has said its subsidiary, African Petroleum Senegal Ltd, will continue on the path of seeking a resolution to the outstanding dispute over block Senegal Offshore Sud…

Moment of Truth for Brazilian Oil Auction is Here

Nov 06, 2019

Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round, the largest offer of crude and gas reserves in the nation's history…

Shell to Buy French Wind Farm Firm

Nov 05, 2019

Royal Dutch Shell is buying French renewable power company EOLFI as part of its plans to ramp up the oil major's electricity business.EOLFI has largely focused on solar and wind projects, including offshore wind farms. Offshore wind is one of the fastest growing renewables markets…

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