Oct 6/Reuters - A former chief executive of Braskem SA is working with investigators in Brazil to establish the petrochemical company's responsibility in a political graft scandal involving its shareholders, according to a newspaper report on Thursday. Brazilian daily Valor Economico reported, without saying how it obtained the information, that former Chief Executive Carlos Fadigas... Continue Reading →
Venezuela Is Pawning Pieces of Iconic American Brand Citgo to Survive
The red triangle is just about everywhere, from the massive sign looming over Fenway Park’s Green Monster to the filling stations on seemingly every other corner in the eastern half of the U.S. to the heating oil donated to the poor in the winter. Few foreign companies have the kind of footprint or brand recognition... Continue Reading →
Brazil’s Petrobras says in talks with Karoon for stake in two fields
| Thu Oct 6, 2016 | Reuters Brazilian state-controlled oil company Petroleo Brasileiro SA said on Thursday it was in talks with Karoon Gas Australia Ltd to sell stakes in the Bauna and Tartaruga Verde fields. Petrobras said the talks concerned a 100 percent stake in the 45,000 barrel-a-day Bauna field, situated in the Santos... Continue Reading →
Brazil Opens Oil Fields to Foreign Firms in Key Policy Shift
Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to foreign investors by scrapping Petroleo Brasileiro SA’s obligation to be the area’s sole operator. The legislation was approved by a 292-to-101 vote, following a bad-tempered debate during which opponents, many dressed in the orange jumpsuits of the state-controlled oil company, repeatedly... Continue Reading →
Brazil police charge Lula in case linked to Odebrecht in Angola
Wed Oct 5, 2016 | Reuters Brazil's former President Luiz Inacio Lula da Silva reacts after voting during municipal elections in Sao Bernardo do Campo, Brazil, October 2, 2016. REUTERS/Paulo Whitaker Brazil's federal police have presented formal charges against former President Luiz Inacio Lula da Silva in a case involving contracts obtained by building and... Continue Reading →
Brazil leniency deals on hold for corruption probe: minister
Negotiations on leniency deals between the Brazilian government and 12 companies blacklisted in the Petrobras corruption scandal have been put on hold until prosecutors conclude plea bargains with executives, Brazil's anti-corruption minister told Reuters. Transparency Minister Torquato Jardim said he was keen to get the construction firms back to work on government contracts once they... Continue Reading →
Odebrecht nears $2 bln plea deal in Brazil graft case
Oct 5, Reuters - Brazilian industrial conglomerate Odebrecht is on the verge of reaching a plea deal that includes a fine of more than 7 billion reais ($2.2 billion) for its role in the country's biggest-ever political graft scandal, a newspaper reported on Wednesday. Brazilian business daily Valor Economico reported, without saying how it obtained... Continue Reading →
Brazil in Fright as Moro’s Untouchables Close In on Iconic Lula
Former Brazilian President Luiz Inacio da Silva left office in 2010 so beloved -- U.S. President Barack Obama called him "the man" -- and with approval ratings so historically high that the trappings of tributes filled 10 shipping containers. There was wine from French ex-heads of state Jacques Chirac and Nicolas Sarkozy, an oxcart from... Continue Reading →
Petrobras commences new Bid process for the Libra Pilot Project FPSO
Rio de Janeiro, October 04, 2016 - Petróleo Brasileiro S.A. – Petrobras, operator of Libra consortium, confirms that it has commenced a new bid process for the Libra Pilot Project FPSO. The company confirms the cancellation of the previous bid process, which began on August 12th, 2015, because it resulted in a proposal with an... Continue Reading →
Brazil’s Petrobras relaunches order for presalt oil exploration vessel
Oct 4 - Reuters. Brazilian state-controlled oil company Petroleo Brasileiro SA confirmed it will relaunch the process to order a Floating Production Storage Offloading vessel to explore the presalt area, the company said in a securities filing Tuesday. Petrobras said it cancelled a previous FPSO order because it resulted in prices above those practiced on... Continue Reading →
Brazil Energy Insight 