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Brazil’s most crippling recession on record is complicating life for OPEC. The nation’s growing oil production combined with slumping domestic demand has unleashed record exports, undermining OPEC’s efforts to reverse falling prices through output cuts. Read more
23/06/201713:25 NICOLA PAMPLONA RIO DE JANEIRO, RJ (FOLHAPRESS) - Petrobras announced the contracting of the Conenge SC / Possebon consortium to complete works at Abreu e Lima Refinery facilities in Pernambuco. The refinery has been in operation since 2014 but the lack of equipment for the treatment of sulfur and other pollutants prevents it from... Continue Reading →
Petróleo Brasileiro SA (PETR4.SA) is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday. Pedro Parente said at an event in São Paulo that a proposal would be delivered for board approval... Continue Reading →
Norway on Thursday got a new OSV player after Solstad Offshore, Farstad Shipping and Deep Sea Supply merged into one new company named Solstad Farstad. With the completion of the merger transactions announced on February 6, Wednesday marked the effective conception of the world’s largest offshore service vessel (OSV) company, Solstad Farstad. The new company... Continue Reading →
Rio de Janeiro, Brazil – June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in June 20, 2017, has concluded the redemption of its 2.750% Global Notes due 2018, 5.875% Global Notes due 2018 and 4.875% Global... Continue Reading →
Rio de Janeiro, June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Executive Board, at its meeting held today, has authorized the development of studies for an Initial Public Offer (IPO) of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR), turning this a subsidiary into a company listed on the B3 stock exchange’s... Continue Reading →
Investors scared off by Brazil’s political turmoil are returning to its currency, lured by the potential for Latin America’s second-highest carry return. The selloff in the real immediately after fresh corruption allegations were leveled at President Michel Temer last month has now subsided, with one-month price swings falling below expected volatility levels based on options... Continue Reading →
Brazil's Supreme Court is expected to rule on Thursday whether terms of plea bargains struck in the nation's sweeping corruption probes can be revised by the full court, a move critics worry could sharply weaken the most potent weapon prosecutors wield in rooting out graft. The court on Wednesday began debating that topic, and two... Continue Reading →
All of them located in shallow waters of the Gulf of Mexico Juan Carlos Zepeda, president of the National Hydrocarbons Commission, which is Mexico’s energy regulator and organizer of the auctions, at the auction Monday in Mexico City. PHOTO: REUTERS By Robbie Whelan June 19, 2017 MEXICO CITY—Mexico awarded 10 blocks of oil and gas... Continue Reading →
Brazil's federal police on Tuesday delivered to a top court justice the bulk of their investigation into allegations that President Michel Temer took bribes in exchange for political favors doled out to the world's largest meatpacker, JBS SA. The document, made public by the top court, is a significant step in the investigation, which is... Continue Reading →
Brazil Energy Insight 