The Brazilian government expects to conclude this month an assessment of the amount that Petrobras could receive as compensation for a fall in oil prices as part of an ongoing review of a 2010 transfer of rights agreement, writes Fabio Palmigiani.
MEG Energy plans to aggressively refinance its debt load to help resume expansion plans at its Christina Lake in situ oil sands project in Canada and ultimately drive up production by 20,000 barrels per day in the next three years.
Contractor Subsea 7 is looking to expand in the growing markets for offshore wind installation and platform decommissioning by taking over the other half of heavy-lift joint venture Seaway Heavy Lifting, writes Beate Schjolberg.
Thailand’s national upstream company PTTEP plans to invest $2.903 billion this year, more than 50% lower than the company envisaged a couple of years ago while its production in coming years will also be lower than earlier anticipated.
Permian basin player Parsley Energy will acquire about 23,000 net acres of new leasehold near its existing assets in West Texas in the US after striking multiple deals worth about $650 million combined.
Penn West Petroleum was one of several junior or intermediate western Canadian producers forced to fight the threat of bankruptcy in 2016 as low commodity prices continued to make companies vulnerable.