International Coalition files Lawsuit in District Court of Rotterdam, The Netherlands, for Damages Caused by Alleged Corruption and Fraud Perpetrated by Petroleo Brasiliero, certain affiliates and its Executives. | Business Wire <!-- 560x292 463x224 --> /js/libs/html5shiv-printshiv.js January 24, 2017 12:01 AM Eastern Standard Time ROTTERDAM, Netherlands--(BUSINESS WIRE)--An International coalition announced today that a lawsuit was... Continue Reading →
Peru Cancels Pipeline Contract With Odebrecht
Consortium led by tainted Brazilian construction giant to lose $7-billion deal for natural-gas pipeline/WSJ People in Lima on Thursday hold a poster reading ‘Detain them’ in a protest against engineering group Odebrecht. PHOTO: GUADALUPE PARDO/REUTERS By RYAN DUBE Jan. 23, 2017 1:46 p.m. ET LIMA—Peru will terminate a contract with a consortium led by Odebrecht... Continue Reading →
Odebrecht consortium for pipeline in Peru warns about cancellation of contract
The consortium Gasoduto Sur Peruano, in which Odebrecht holds a 55 percent stake, issued a warning last Friday that faced with the imminent impossibility of securing financing on Monday it is possible that the billionaire concession contract will be canceled. The Spanish Enagás holds 25 percent of the consortium and Peruvian Graña y Montero... Continue Reading →
‘Maersk Pacer’ nets two-year deal in Brazil
Danish offshore vessel owner Maersk Supply Service has been awarded a two-year contract with Brazil’s PetroRio for Maersk Pacer an anchor handler, to perform tanker lifting for offloading operations in Brazil. Maersk Supply Service’s CCO Carsten Gram Haagensen said: “With this contract, Maersk Supply Service demonstrates that we are a trusted and preferred vessel... Continue Reading →
Halliburton Profit Beats Estimates as U.S. Drilling Gains
Halliburton Co. reported fourth-quarter adjusted profit that beat analysts’ estimates after oil explorers kicked off a year-end recovery in North America where the service provider generates most of its sales. The world’s largest fracking services provider posted profit excluding certain items of 4 cents a share, according to a statement Monday, exceeding the 2-cent average of 39... Continue Reading →
GE Misses Sales Estimates, Weighed Down by Oil-Market Slump
General Electric Co.’s fourth-quarter revenue trailed analysts’ estimates as the persistent oil-patch slump damped demand for the industrial equipment that forms the heart of the company’s business. “2016 was an extremely difficult year for oil and gas,” Chief Financial Officer Jeff Bornstein said Friday on a conference call after GE announced earnings results. Read more
Schlumberger Posts a Loss as Slump Weighs on Oil Services
Schlumberger Ltd. reported a fourth-quarter loss as oil’s slump continued to weigh on demand for drilling services. The world’s largest oilfield service provider posted a net loss of $204 million, or 15 cents a share, after a loss of $1.02 billion, or 81 cents, a year earlier, according to a statement Friday. Excluding certain items,... Continue Reading →
ANP Announces in May 4th Round of Marginal Accumulations
The announcement and contract of the 4th Round of Marginal Accumulations in May 11 was published by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), will offer nine areas for exploration and production of oil and gas with low potential in three basins. Concession will be offered in the areas of the... Continue Reading →
Exclusive: Brazil plans two subsalt auctions in 2017, another in 2018
Brazil plans to hold two subsalt oil auctions in 2017, putting new exploration areas up for bidding in November for what should be the "most competitive" round of the year, Oil Secretary Marcio Felix said in an interview on Thursday. The auctions, an effort to lure foreign investment in a sector that for much of... Continue Reading →
Brazil Supreme Court judge handling graft probe killed in plane crash
Brazilian Supreme Court Justice Teori Zavascki was killed in a plane crash on Thursday, raising questions about who will take over his investigation into dozens of politicians in the country's biggest ever corruption scandal. Rescuers found three bodies in the wreckage of the small, twin-prop plane that crashed off the coast of Rio de Janeiro... Continue Reading →
Brazil Energy Insight 