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Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a... Continue Reading →
July 21, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the release dated 06/22/2020, informs that it has filed a motion to vacate a partial arbitration award rendered in an arbitration filed by Petros and Previ before the Market Arbitration Chamber (CAM) of B3. As a result of the rules of the CAM, the... Continue Reading →
July 21, 2020 Petróleo Brasileiro S.A. - Petrobras informs that it has obtained a favorable and final decision from the Federal Regional Court of the 2nd Region in process that seeks to recover the PIS and COFINS contributions overpaid due to the inclusion of VAT tax (ICMS) in the calculation basis from October 2001 onwards.... Continue Reading →
July 17, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 05/17/2019 and 06/21/2019, informs that, yesterday, the United States Court of Appeals for the Fifth Circuit dismissed the appeal filed by the company against the decision rendered by the Federal Court of Texas, on 05/17/2019, which confirmed the arbitration award... Continue Reading →
July 10, 2020 Almost three years after the end of the precautionary blockade by Petrobras, the group closes contracts with the state-owned company and Trident Energy. Heftos Óleo e Gás Engenharia - a subsidiary of the UTC Participações group - signed contracts with Petrobras to provide services at the Gabriel Passos Refinery (Regap), in Minas... Continue Reading →
Mexico's state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc have been instructed to come to an agreement detailing how they will jointly develop a large offshore oil find, the energy ministry said on Wednesday. The formal instruction from the energy ministry, dated July 7 but announced in a statement... Continue Reading →
July 6, 2020 Reuters) - Petrobras' decision to sell part of its refining assets is in line with national energy policy and does not go against the Supreme Federal Court (STF) decision on privatization, defended the Ministries of Economy and Mines and Energy in joint note this Monday. The manifestation of the portfolios follows the... Continue Reading →
Brazilian oil major Petrobras has prolonged the deadline for certain conditions of an agreement and settlement with Sete Brasil related to a charter of four and termination of contracts for 24 drilling rigs. Petrobras said on Wednesday that its executive board pushed back the deadline for the agreement between the two companies from 30 June... Continue Reading →
A court in Brazil has accepted a money laundering and corruption complaint against a former Sembcorp Marine employee as part of the widespread Brazilian Car Wash probe. As previously reported, the Federal Public Ministry (MPF) in Brazil in February 2020 filed charges against Guilherme Esteves de Jesus (GDJ) for money laundering and Sembcorp Marine’s ex-employee Martin Cheah Kok Choon for... Continue Reading →
Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp. The proposed securities class action was filed late Tuesday in a New York state court in Manhattan... Continue Reading →
Brazil Energy Insight 