Brazilian engineering group Odebrecht SA is close to signing a leniency agreement with prosecutors in which it will agree to pay around 7 billion reais ($2.1 billion) in fines, the newspaper Valor Economico reported on Wednesday. The agreement would allow the group's companies to bid for new government contracts. The prosecutors' office declined to comment.... Continue Reading →
Clarification on News: Petrobras to negotiate pre-salt areas with French group Total
Rio de Janeiro, November 21, 2016 - Petróleo Brasileiro S.A. – Petrobras responds to Official Letter No. 543/2016 / CVM / SEP / GEA-1 requesting clarification, as follows: Official Letter No. 543/2016/CVM/SEP/GEA-1 “Dear Officer, 1. We refer to the news published on 11.19.2016, in the Market section of Folha de São Paulo newspaper, under the... Continue Reading →
Peru considers rescinding Odebrecht’s pipeline contract: source
Peru is considering rescinding Odebrecht SA's $5 billion natural gas pipeline contract after the Brazilian company's attempt to sell its majority stake in the project got snagged on corruption concerns, a government source said Friday. As a condition to buying Odebrecht's ODBES.UL stake, a Sempra Energy-led consortium asked to remove a clause in the contract... Continue Reading →
Spain arrests man suspected of being ‘mastermind’ in Petrobras case
Spanish police have arrested a man suspected of being a "financial mastermind" in a corruption network at Brazil's semi-public oil company Petrobras, the Interior Ministry said on Tuesday. The man, 43, is of dual Brazilian and Spanish nationality and had been on the run from Brazil since April, the ministry said, traveling first to the... Continue Reading →
NAVSHIP LAUNCHES PSV ORDERED BY BRAM OFFSHORE
November 21, 2016 The Navship shipyard , from Navegantes (SC), has launched another PSV for Bram Offshore. The Mr. Aldo PSV, was commissioned in January 2015 and came to receive priority from the Merchant Marine Fund in the allocation of resources. The vessel will be chartered to Petrobrás in an eight-year contract under the... Continue Reading →
Farstad Shipping has been awarded a contract extension and several new contracts for its platform supply vessels in Brazil
Norwegian offshore vessel owner Farstad Shipping has been awarded a contract extension and several new contracts for its platform supply vessels in Brazil and Egypt. The vessel owner reported on Monday that the Brazilian oil giant Petrobras has extended the contract for the 2003-built MPSV Far Swift with another year in direct continuation with present... Continue Reading →
Inapplicability of preemptive right related to the sale of Liquigás
Rio de Janeiro, November 21, 2016 – Petróleo Brasileiro S.A. – Petrobras responds to Official Letter No. 3267/2016-SAE/GAE 1, which requests clarifications, as follows: Official Letter No. 3267/2016-SAE/GAE 1 "Dear Sirs, Considering the terms of the material fact published on 11/17/2016, we request you to inform, by 11/21/2016, if the sale of all the shares... Continue Reading →
Petrobras to review workers profit-sharing pact
Petroleo Brasileiro SA , the world's most indebted large oil company, is reviewing terms of a profit-sharing accord with workers, as rifts between the Brazilian state-controlled company and unions escalate, the Valor Econômico newspaper reported on Tuesday. According to Valor, Petrobras intends to modify aspects of the PLR, as the profit-sharing mechanism is commonly known.... Continue Reading →
Petrobras negotiates pre-salt areas with French group Total
Petrobras is negotiating the sale of a stake in the most coveted areas of the pre-salt - close to the mega fields Lula and Sapinhoá - to the French group Total. The transaction is part of a strategic partnership agreement announced by the two companies in October and should also include two thermal plants... Continue Reading →
Petrobras – Divestment process of concession rights for Baúna and Tartaruga Verde/Karoon hit with injunction on $1.5bn Petrobras deal
Australian player hits pause on field purchases from Brazilian state player amid court ruling Rio de Janeiro, 21 November 2016 – Petróleo Brasileiro S.A. – Following the material fact disclosed on 10/06/2016, Petrobras informs that became aware of the existence of an action in respect of which an injunction was granted to suspend the... Continue Reading →
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