Work Area: Oil

Court throws out Petrobras mega claim against Brazilian banks

Several law firms have helped a syndicate of Brazil’s largest banks defeat a 40 billion reais (US$8 billion) claim brought against them by Petrobras, in which the state-owned oil giant accused the finance groups of conspiring to manipulate foreign exchange rates between 2007 and 2013.

21 February 2024

Oxy agrees to settle dispute with Ecuador oil block partner

Occidental Petroleum says it has reached a preliminary settlement with its Chinese former partner in an Ecuadorean oil block to settle a long-running fight over the proceeds of an International Centre for Settlement of Investment Disputes (ICSID) award.

15 February 2024

DLA Piper promotes three in Bogotá

DLA Piper Martínez Beltrán has elevated three directors to its senior rank, boosting the firm’s oil and gas and corporate governance practices.

13 February 2024

Brazil’s Villemor Amaral adds 10 to partnership

Brazilian firm Villemor Amaral Advogados has added 10 lawyers to its partnership by promoting a slew of practitioners and hiring a name partner from local outfit Castro Lopes Advogados Associados.

07 February 2024

Dentons helps Canadian investor snap up Venezuelan oil assets

Dentons in Caracas and Bogotá has advised Canada’s New Stratus Energy in its acquisition of a stake in GoldPillar, a Curaçao-based investment group that controls several oil fields in Venezuela.

01 February 2024

YPF raises US$800 million and makes tender offer

Two Cleary Gottlieb Steen & Hamilton LLP offices and Bruchou & Funes de Rioja in Buenos Aires have helped Argentine oil behemoth YPF raise US$800 million in a notes issuance at the same time that it made a tender offer to buy back debt.

23 January 2024

Enauta buys QatarEnergy’s stake in oil block

Brazilian oil and gas group Enauta has turned to Mattos Filho to buy a minority stake in a deep water oil block from QatarEnergy for US$150 million.

22 January 2024

Colombia’s Ecopetrol raises US$1.85 billion in bond offering

Shearman & Sterling LLP in New York has helped Colombian oil company Ecopetrol raise US$1.85 billion in a bond issuance.

19 January 2024

EIG buys Brazilian oil driller from Novonor

Three White & Case LLP offices, two Mattos Filho offices and Galdino & Coelho, Pimenta, Takemi, Ayoub Advogados in Rio de Janeiro have helped US investor EIG acquire Brazilian offshore oil drilling company Ocyan from Novonor for US$390 million.

08 January 2024

Ecuador beats refinery claim with corruption defence

Ecuador has applied to enforce a costs award after defeating a US$145 million treaty claim brought by an engineering company that was found to have engaged in corruption.

04 January 2024

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