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Month: December 2020

Northern Ocean’s Third Quarter Results

December 1, 2020
| Archives

Northern Ocean issued their third quarter results and below are the highlights: Highlights - Third Quarter Subsequent Event West Bollsta commenced its initial contract for Lundin Energy Norway AS on October 6, 2020. Results In the third quarter, operating revenue was $21.4 million compared to $24.8 million in the previous quarter. The West Mira continued operations under contract

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Brazil prosecutors pin suit on Trafigura for alleged bribes in so called Car Wash probe

December 1, 2020
| Archives

Brazilian federal prosecutors have filed a lawsuit seeking damages from oil trading company Trafigura and former executives on corruption allegations involving Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras), according to a statement on Monday. The prosecutors are also seeking a court order to freeze 1 billion reais ($187.55 million) of the defendants’ assets pending a final ruling

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Transocean Ltd. Announces Amendments to Resolve Allegations Contained in Purported Notices of Default

December 1, 2020
| Archives

Transocean Ltd. (NYSE: RIG) announced today that it, Transocean Inc. (together with Transocean Ltd., the "Company") and certain of its subsidiaries executed amendments to certain of their financing documents and implemented certain internal reorganization transactions to resolve the allegations contained in the previously disclosed notices of alleged default (the "Notices") with respect to Transocean Inc.’s 7.25% Senior Notes due 2025 (the

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Seadrill Partners files for bankruptcy

December 1, 2020
| Archives

Seadrill Partners LLC (the “Company”) has been in negotiations with an ad hoc group of lenders under the Company’s Term Loan B credit facility (the “TLB”) regarding a consensual reorganization of the Company’s balance sheet.  In consultation with—and with the support of—the ad hoc group, the Company has filed voluntary petitions under chapter 11 of the Bankruptcy

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Pioneer Natural Resources CEO sees oil demand recovery in 2022

December 1, 2020
| Archives

Global oil demand will likely recover to its pre-pandemic levels of 100 million barrels per day (bpd) by 2022 or early 2023, Pioneer Natural Resources Chief Executive Scott Sheffield said on Tuesday. Demand next year is likely to be around 97 million bpd, Sheffield said, speaking at the Reuters Future of Oil & Gas 2020 virtual conference. He

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Rig Lynx Announces Digital Marketing and Software Development Partnership with IAWCI

December 1, 2020
| Press Releases

Houston, Texas, December 1, 2021: IAWCI (International Association of Well Control Instructors) announced today a partnership with Rig Lynx, a specialized social network and provider of specialized marketing solutions for the oil and gas industry. IAWCITM efforts are focused on improving the Oil and Gas Industry safety and environmental track record through improved Well Control training.  Working

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