Brazil’s inflation projections allow for gradual and moderate interest rate cuts but indicate a limit to the extent of the easing cycle, the country’s central bank said on Tuesday. Fiscal adjustments have made more progress than expected in Congress but continue to represent a risk, according to the minutes of the central bank published on... Continue Reading →
Mexico, Brazil Vie for Big Oil’s Cash in Offshore Auctions
Two Latin American countries in need of massive investments to boost drained state coffers have become locked in an escalating competition to attract Big Oil’s interest in their deep-water oil reserves. Mexico and Brazil, the region’s two biggest economies, each want a slice from a shrinking pie as international drillers limit their investments during a... Continue Reading →
RigNet and MODEC Sign Agreement to Deliver Fiber-equivalent O3b Satellite Connectivity to Offshore Brazilian FPSO Fleet
/js/libs/html5shiv-printshiv.js Leading global provider of floating production services to the oil and gas industry chooses O3b to help lower costs and improve operational efficiency, gaining significant competitive advantage October 24, 2016 ST. HELIER, Jersey--(BUSINESS WIRE)--O3b Networks, technology solutions company RigNet and floating production service provider MODEC, are pleased to announce an agreement to provide high-throughput,... Continue Reading →
Petrobras says U.S. investor lawsuits settled outside class action suit
Mon Oct 24, 2016 | Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Sao Caetano do Sul, Brazil, September 28, 2016. REUTERS/Paulo Whitaker The chief executive of Brazil's state-run oil company Petrobras, Pedro Parente, said on Monday that four settlements reached with investors late last week were not... Continue Reading →
Petrobras settlements show company eager to resolve corruption cases
Petrobras' decision to settle four lawsuits over corruption allegations signals its willingness to negotiate deals in other civil cases but does not remove the threat of massive government penalties from U.S. and Brazilian investigations, legal experts said. The four settlements with large Petrobras shareholders, approved by the oil company's board on Friday, represent only a... Continue Reading →
Brazil’s police seek corruption charges against ex-finance minister
Brazil's federal police on Monday sought corruption charges against former finance minister and presidential chief of staff Antonio Palocci and accuse him of running a bribery scheme that funneled money to the former-ruling Workers Party's (PT). Police said in their investigation sent to federal prosecutors that Palocci conspired with construction firm Odebrecht SA [ODBES.UL] to... Continue Reading →
Petrobras – Approval of the Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved the creation of a Minority Shareholders Committee to monitor the revision process of the Transfer of Rights Agreement. The Committee will be composed of two Board members elected by the minority shareholders, Mr Guilherme Affonso Ferreira... Continue Reading →
Petrobras and Total form a Strategic Alliance in Upstream and Downstream
Rio de Janeiro, October 24, 2016 – Petróleo Brasileiro S.A. – Petrobras and Total inform that Pedro Parente, CEO of Petrobras and Patrick Pouyanné, Chairman and CEO of Total are signing today, in Rio de Janeiro, a Memorandum of Understanding which sets the general framework for a Strategic Alliance covering Upstream and Downstream activities in... Continue Reading →
Petrobras signs strategic alliance with Total in the areas of Exploration and Production and Gas and Power
Oct. 24, 2016 Petrobras president, Pedro Parente, and the president of Total, Patrick POUYANNE, signed a memorandum of understanding to consolidate a strategic alliance in the segments of Exploration and Production (E & P) and Gas and Energy (G & E) in Brazil and potential opportunities abroad. From this memo, the companies are committed... Continue Reading →
Petrobras reaches agreement with investors to settle four individual securities actions in the United States
Rio de Janeiro, October 21, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, agreements to settle four individual securities actions brought before the US District Court for the Southern District of New York by PIMCO Total Return Fund, et al., Dodge & Cox International... Continue Reading →
Brazil Energy Insight 