The biggest winners in President Donald Trump’s decision to walk away from the Paris climate accord are oil, coal and natural gas producers. And even they aren’t popping Champagne corks. The president, who has called climate change a hoax, cast aside any lingering doubts about his commitment to fossil fuels Thursday when he announced the... Continue Reading →
Petrobras – Legal proceedings related to Petros Plan
Rio de Janeiro, June 01, 2017 – Petrobras informs that the Federal Court recognized, in a first instance decision, the deductibility in the tax basis of the Corporate Income Tax and the Social Contribution on Net Profits of expenses related to the renegotiation of Petros Plan. However, such deduction would be limited to 20% of... Continue Reading →
Petrobras – Inclusion of Debts in the Tax Regularization Program
Rio de Janeiro, June 1, 2017 – Petrobras informs that it requested the inclusion of tax debts in the Tax Regularization Program (Programa de Regurarização Tributária) created by Provisional Measure 766/2017 and governed by Normative Instruction of the Brazilian Federal Revenue Service No. 1.687/2017 and National Treasury Attorney's Office Ordinance No. 152/2017. Enrollment in this... Continue Reading →
Brazil exits recession with fastest growth rate since 2013
Brazil's economy emerged from its worst recession on record with its fastest growth rate in nearly four years, data showed on Thursday, boosting President Michel Temer's case for staying in office as he battles a corruption scandal. Brazil's gross domestic product (GDP) grew 1.0 percent in the first quarter from the preceding one, matching economists'... Continue Reading →
Exxon shareholders approve climate impact report in win for activists
Exxon Mobil Corp's (XOM.N) chief executive said on Wednesday the company would reconsider how it communicates the risks its faces from climate change after shareholders approved a measure calling for increased transparency. The non-binding proposal passed with 62 percent of ballots cast in a rare defeat for Exxon's management, which had recommended a vote against... Continue Reading →
PPSA expects production to accumulate 700 thousand barrels between July and October in test of Libra
Production of the Libra field in the Santos Basin pre-salt is expected to accumulate a total of 700,000 barrels between July and October this year, state-owned oil company Pre-Sal Petróleo SA (PPSA) president told Reuters. Represent the interests of the federal government in the contracts of Production Sharing, Ibsen Flores. The volume will be important... Continue Reading →
PPSA launches in the 2nd semester tender to hire pre-salt oil trading agent
State-owned Pre-salt Petróleo S.A. (PPSA), which is responsible for representing the interests of the federal government in the Pre Salt Sharing Contracts, will launch an international tender to hire a marketing agent in the second half of 2017. International companies that do not operate in the country will be able to participate, provided they establish... Continue Reading →
Brazil Central Bank Keeps Rate Cut Pace as Uncertainty Looms
Brazil’s central bank kept the pace of monetary easing and signaled future rate cuts may not be as aggressive amid a fresh political crisis that has rocked the country. The bank’s board led by President Ilan Goldfajn reduced the benchmark Selic rate by a full percentage point to 10.25 percent on Wednesday, as forecast by 43... Continue Reading →
INVESTORS ASK FOR REIMBURSEMENT OF R $ 4.475 BILLION FOR LOSSES WITH SETE BRASIL
MAY 31, 2017 Sete Brasil has been in judicial disputes between shareholders for some time as a result of the Lava Jato's revelations, the drop in the price of oil, and the cutback in Petrobrás investments, but now the dispute has advanced a notch. The investors of the company have filed a request for international arbitration... Continue Reading →
Brazil testimony may link two billionaires to graft probe
A former Brazilian cabinet minister is offering prosecutors evidence of graft involving two prominent billionaires who allegedly sought help from politicians to undertake deals during the left wing Workers Party administration, two newspapers reported on Wednesday. Antônio Palocci has decided to cooperate with prosecutors in exchange for a lighter sentence related to his role in... Continue Reading →
Brazil Energy Insight 