Diamond Offshore gets financial reprieve from Brazilian court

A Brazilian appellate court ruled that state-owned Petrobras illegally canceled a contract with Diamond Offshore Drilling, offering a financial reprieve to the Houston company. The court upheld an injunction ruling that the scandal-plagued and financially struggling Petrobras couldn’t cancel its offshore drilling contract with the Ocean Valor deepwater rig. Petrobras can still appeal to a …
Source: FuelFix