Rio de Janeiro, April 4, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it concluded today the sale transaction announced on September 23, 2016, of 90% of the company's shares in Nova Transportadora do Sudeste ("NTS") to Nova Infraestrutura Fundo de Investimentos em Participações ("FIP"), managed by Brookfield Brasil Asset Management Investmentos Ltda, an... Continue Reading →
Seadrill Drops to Record Low After Warning on Shareholder Losses
Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, fell 38 percent after warning its shareholders and bond investors they can expect steep losses in a debt restructuring process that was extended once again. The stock slumped 5.28 kroner to close at 8.69 kroner in Oslo on Tuesday, the lowest since it was listed in... Continue Reading →
Petrobras CEO sees debt falling below reduction target by end 2018
Brazil's state-controlled oil firm Petroleo Brasileiro SA could reduce debt below a projected target of 2.5 times Ebitda by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. According to Parente, that would be possible if the company maintains the current trend of debt reduction. Petrobras has a debt load of... Continue Reading →
Exxon Eyes Brazil Expansion/WSJ
Oil company in talks to partner with Petrobras on offshore oil projects By BRADLEY OLSON and PAUL KIERNAN Updated April 4, 2017 10:41 a.m. ET Exxon Mobil Corp. XOM +0.02% , the only big oil company without a major foothold in Brazil, is in talks to gain access to the country’s prized deep-water resources, according... Continue Reading →
Brazil court puts off ruling that could unseat President Temer
Brazil's top electoral court on Tuesday delayed proceedings in a landmark trial about illegal campaign funding that could lead to the removal of President Michel Temer less than a year after he took over from impeached leftist Dilma Rousseff. The Supreme Electoral Tribunal (TSE) decided to postpone a verdict until at least May to hear... Continue Reading →
Pre-salt auctions should represent reinforcement of R $ 24 billion in the government’s coffers by 2019
Expectations are that investments in the fields will be around R $ 250 billion BY BRUNO ROSA/Globo 03/04/2017 4:30 / UPDATED 03/03/2017 8:10 RIO - The world's leading oil companies have started a marathon of meetings at Petrobras with an eye on the next four pre-salt auctions that the Brazilian government intends to do... Continue Reading →
Singapore rig builders let off hook in Sete Brazil case
A U.S. judge has let Singapore’s offshore rig builders Keppel and Sembcorp Marine off the hook in a case involving an investment fund, Brazil’s driller Sete and the oil company Petrobras. To remind, in mid-2016 Keppel and Sembcorp Marine were named defendants in an action initiated by EIG Management Co and eight of its managed... Continue Reading →
Brazil Oil production increases 14.6% compared to February 2016
April 03, 2017 February 2017 oil production in Brazil totaled 2.666 billion barrels per day (bbl / d). The volume represents an increase of 14.6% in relation to the same month in 2016 and a decrease of 0.4% in comparison with the previous month. The natural gas production was 106.6 million cubic meters per... Continue Reading →
Brazil’s black market pipeline: Gangs hijack Petrobras’ oil, fuel
In September, police investigating a wave of killings in the northern Rio de Janeiro suburbs followed a tip to the isolated scrubland near the massive Duque de Caxias oil refinery. Police presumed the killings were linked to turf battles between criminal gangs in the run-up to municipal elections the following month. They found a different... Continue Reading →
Court Rules in Favor of EIG in “Lava Jato” Corruption Scheme
Claims Against Petrobras to Proceed in D.C. Federal Court April 03, 2017 12:36 PM Eastern Daylight Time WASHINGTON--(BUSINESS WIRE)--EIG Global Energy Partners (“EIG”) today announced that the United States District Court for the District of Columbia (the “Court”) ruled in its favor in an action brought by its EIG Energy Funds XIV and XV... Continue Reading →
Brazil Energy Insight 