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Ask any oil-company accountant, “what’s the difference between income and cash flow?” and they’re likely to say income makes the headlines, cash pays the bills. It may be glib, but there’s a nub of truth there. Cash generation is the yardstick used to judge a company’s ability to invest and pay dividends, and it’s been... Continue Reading →
U.S. and Swiss investigators are working with Brazilian counterparts to complete negotiations with Odebrecht, the construction company at the center of a massive political kickback scandal, in what is likely to be the world's largest leniency deal, people involved in the talks said. Upwards of 80 Odebrecht employees are negotiating plea bargains and a leniency... Continue Reading →
Nov. 7, 2016/Petronoticias Petrobras has taken a step forward that can give a lot of agility to small contractors from now on. It has introduced a program called Simplifica (Simplify) Petrobrás, which will review the internal procedures for purchasing small-value goods and services, in order to reduce bureaucracy and the board's demand for less impacting... Continue Reading →
Mon Nov 7, 2016 | Reuters Petrobras Bolivia SA, a subsidiary of Brazil's state-run oil firm Petroleo Brasileiro SA, and Bolivia's state-run YPFB Chaco have signed a $1.2 billion agreement to explore two natural gas fields with potential reserves of 4 trillion cubic feet, the Bolivian government said on Monday. The fields are Astillero and... Continue Reading →
Trafigura Group distanced itself from a board member arrested in Brazil over allegations of involvement in bribery and money laundering at state-run oil company Petroleo Brasileiro SA, saying the contracts at the heart of the case didn’t involve the commodity-trading house. The “substantive allegations” made by Brazil’s public prosecutor against management board member Mariano Marcondes... Continue Reading →
The leader of Statoil’s efficiency programme has taken over the role of chief operating officer at Norway’s state-controlled oil company. Steve Marshall 4 Nov 2016 12:27 GMT Updated 4 Nov 2016 12:36 GMT Jannicke Nilsson, who heads the so-called Step (Statoil technical efficiency programme) initiative, will replace present incumbent Anders Opedal who has been appointed... Continue Reading →
Changes falling into place after a catastrophic period of scandal, corruption and collapse Gareth Chetwynd 4 Nov 2016 01:00 GMT Updated 3 Nov 2016 12:31 GMT Brazil’s oil sector is undergoing a transformation that is starting to generate new interest among investors and offer hope to domestic industry after a ruinous two years. The first... Continue Reading →
State giant carrying out appraisal work on deep-water discoveries Pitu and Tango Fabio Palmigiani Rio de Janeiro 4 Nov 2016 01:00 GMT Updated 3 Nov 2016 02:00 GMT THE Brazilian National Petroleum Agency (ANP) has given Petrobras more time to carry out appraisal work at two deep-water discoveries in Block BM-POT-17 in the Potiguar basin... Continue Reading →
Petrobras plans to spud an additional eight wells at Brazil’s giant Libra pre-salt field by 2019 to further appraise the area. 4 Nov 2016 01:00 GMT Updated 3 Nov 2016 01:36 GMT The state-controlled operator has so far drilled nine probes at Libra, mostly focusing on the north-western section of the field, and intends to... Continue Reading →
Ambitious plan to deploy fleet of FPSOs in Santos basin pre-salt field early next decade Fabio Palmigiani Rio de Janeiro 4 Nov 2016 01:00 GMT Updated 3 Nov 2016 01:36 GMT Brazilian oil giant Petrobras is making the Libra development its number one priority, as an ambitious plan designed to fast-track output takes shape with... Continue Reading →
Brazil Energy Insight 