Brazil’s economy showed signs of returning to normal on Thursday as the largest oil workers union ended a strike well ahead of schedule and an 11-day truckers protest appeared to dissolve. Oil workers union FUP recommended on Thursday that members suspend a 72-hour strike they began on Wednesday after a court said the organization would... Continue Reading →

Exxon's CEO says the company can more than double its earnings by 2025 and will invest in new oil and gas production even if policymakers adopt rules to combat climate change. Darren Woods told shareholders Wednesday that technology like biofuels will allow the company to produce energy with lower carbon emissions. Read more

(Reuters) - The office of Brazilian President Michel Temer said in a written statement on Wednesday that it was committed to the financial health of Petroleo Brasileiro SA and it would continue to preserve the state-led oil firm’s fuel pricing policies. A government source told Reuters that Temer may scrap a market-based pricing mechanism that... Continue Reading →

05/30/18 PetroRio started production of the first well of the Polvo field's revitalization campaign, called POL-H. The forecast is that, with stabilized production, the well will produce approximately 2,600 barrels / day, representing a 35% increase in total Polvo production in the first month. The drilling began in April and is part of the revitalization... Continue Reading →

05/30/18 Oceaneering submitted the lowest price at the Petrobras bid to contract drill pipe risers (DPR) to post-salt fields. The company's offer was approximately R$ 215 million, surpassing Schlumberger's R $ 228 million bid, which came in second place. Expro do Brasil (R $ 231 million), Weatherford (R $ 425 million) and Aker Solutions (R... Continue Reading →

IBP president José Firmo said in an event held last Friday that the country's oil and gas industry should take advantage of the "window of opportunity" that will exist in the coming years to convert the oil reserves pre-salt in wealth for society. The "window" in question refers to the time the industry will have... Continue Reading →

May 30, 2018 8:41 a.m. ET SÃO PAULO—Brazil’s economic expansion continued in the first quarter as the country’s vital agricultural sector expanded rapidly from the previous three-month period. Gross domestic product grew a seasonally adjusted 0.4% in the first quarter from the last three months of 2017, and expanded 1.2% from the same period a... Continue Reading →

Brazilian oil workers planned a 72-hour strike starting on Wednesday, despite a court order, in a new blow to President Michel Temer and an economy reeling from a truckers’ protest that has strangled Latin America’s largest economy for over a week. The planned oil strike was declared illegal by Brazil’s top labor court on Tuesday.... Continue Reading →