In what could be considered the deal of the century, international offshore drilling contractor Ocean Rig has purchased an advanced ultra deepwater drillship at auction for just $65 million in...

Grupo Schahin filed for Brazil’s equivalent of Chapter 11, becoming the latest Petroleo Brasileiro SA contractor to seek protection from creditors as a corruption probe and a rout in oil prices limit access to funding.

ICBC Financial Leading Company Ltd, an arm of the world’s largest bank, last week signed a $1.08 billion deal with Brazilian industrial conglomerate Schahin, for the leasing of two of the company’s semi-submersible drilling rigs, SS Pantanal and SS...