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Brazil’s former President Luiz Inacio Lula da Silva was convicted of graft and money-laundering for his part in the country’s sweeping corruption scandal, potentially removing him from the political scene just as his prospects of returning to the presidency were gaining momentum. Sergio Moro, the lead judge in the multi-billion dollar corruption probe known as... Continue Reading →
Galp selected as an absolute priority in Brazil, the bidding of the North area of the Carcara field (BM-S-8), in the Santos Basin, scheduled for 27 of October. Galp is trying to convince Statoil to enter the bidding, repeating part of the consortium that owns the BM-S-8 concession. Galp is the "small fish" of... Continue Reading →
Mexico’s decision to allow private companies to explore for oil and gas started to pay off after the discovery of at least a billion barrels in a new offshore field. A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CV and Talos Energy LLC made the discovery in the shallow waters of... Continue Reading →
BRASILIA (Reuters) - Brazil's Senate on Tuesday approved the country's first major overhaul of labor rules in seven decades in a crucial victory for beleaguered President Michel Temer as he seeks to pull the economy out of its worst ever recession. The bill, which modernizes some labor laws dating back to the 1940s, was passed... Continue Reading →
Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact published on March 7, 2017, hereby reports that at a meeting held today, the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"), upheld the appeal filed by the company in relation to Letter No. 30/2017/CVM/SEP/GEA-5. The... Continue Reading →
Rio de Janeiro, July 11, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"), in a public meeting held today, expressed an understanding favorable to the company in the CVM Sanctioning Administrative Process no. RJ2015/10276. The purpose of said process is to investigate a... Continue Reading →
Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact of June 22, 2017, reports that its Board of Directors approved at a meeting held today, the initial public offer of its fully-owned subsidiary Petrobras Distribuidora S.A. (BR), which will be effected through a secondary public offering of... Continue Reading →
Petrobras will divulge their model for asset sales in the area of refining within 30 days. In some cases, the company will keep only a minority participation. Any similarity between the timing of the recently signed MOU with CNPC is not a mere coincidence. According to leaked information from the company, CNPC will not only... Continue Reading →
Petroleos Mexicanos has hired the same legal representation used by Brazilian utility Eletrobras to audit its contracts with Odebrecht SA and affiliate Braskem SA amid an ongoing investigation into those two companies by the U.S. Department of Justice. Read more
Brazilian engineering firm UTC Engenharia SA and state-controlled oil giant Petroleo Brasileiro on Monday gave conflicting reasons for halting a platforms-servicing contract in the Campos Basin, in a spat that could hit operations. Petrobras, as the oil company is known, said in a press release that UTC chose unilaterally to discontinue construction services on the... Continue Reading →
Brazil Energy Insight 