NEW YORK (Thomson Reuters Regulatory Intelligence) - Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said this week that it had agreed to settle a shareholder lawsuit by The Vanguard Group, an investment management company, to recover corruption-related losses. The case offers notable lessons in anti-bribery governance and oversight. Petrobras did not disclose the... Continue Reading →
Petrobras launches Annual Letter of Public Policies and Corporate Governance
Rio de Janeiro, June 29, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved the 2016 Annual Letter of Public Policies and Corporate Governance. The letter is a requirement of Law 13.303/2016, Decree 8.945/2016 and the B3’s Corporate Governance Program for State-Owned Companies plus transparency requirements pursuant to current legislation.... Continue Reading →
Petrobras Sale of Juruá Field in Solimões Basin: Start of the binding phase
Rio de Janeiro, June 29, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 5/22/2017, informs the start of the binding phase regarding the transfer of Petrobras’ stake in the Juruá Field, in the Solimões Basin. At this stage of the project, the invitation letters are issued to interested parties... Continue Reading →
Brazil Continues to Dominate the FPSO Market with Most Planned Project Starts
A total of 54 FPSOs are expected to start operations globally by 2021. South America will continue to lead globally with planned deployment of more than 20 FPSOs, followed by Africa and Asia by 2021. Among countries Brazil continues to dominate in terms of deployment of planned FPSOs, followed by the UK and Angola. Petróleo... Continue Reading →
Brazilian study urges Petrobras to cut Bolivian natural gas purchases
Petróleo Brasileiro SA should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study. The study by a Mines and Energy Ministry research arm, seen by Reuters on Tuesday, recommended that Brazil's... Continue Reading →
Petrobras to install four new platforms in the Campos Basin
Cristina Indio do Brasil - Agência Brasil reporter Petrobras intends to install four new platforms in the Campos Basin in the coming years. The first will be the FPSO Cidade de Campos de Goytacazes, destined to the production of oil in the fields of Tartaruga Verde and Tartaruga Mestiço. Two other units will operate in the... Continue Reading →
Seabed Geosolutions scores $90M contract in Brazil
zoom Seabed Geosolutions has reportedly been awarded an ocean bottom seismic survey contract in Brazil. The company, a joint venture between CGG and Fugro, has secured a contract with Petrobras for work in the Santos Basin, offshore Brazil. The contract, worth $90 million, is expected to start in late 2017, or in early 2018. Stephan... Continue Reading →
Brazil’s Petrobras halts production after leak in Campos basin
Mon Jun 26, 2017 | 5:54pm EDT The logo of Petrobras, state-controlled Petroleo Brasileiro SA, is seen at their President Bernardes Refinery in Cubatao, Brazil June 8, 2017. REUTERS/Paulo Whitaker Brazil's Petróleo Brasileiro SA halted production at a platform in its Marlin field in the Campos Basin after a "small amount" of water and oil... Continue Reading →
Petrobras negotiates additive on contract for pre-salt equipment in search of safety
Petrobras is negotiating an addendum to the contract with the supplier of equipment TechnipFMC aimed at providing more safety for connections used in the pre-salt production, after two failures in gas-injected pipelines that alerted to possible risks in the country's important oil producing area, revealed The oil company told Reuters. The oil company is now... Continue Reading →
Petrobras authorizes resuming negotiations with Sete Brasil
Rio de Janeiro, June 23, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board has authorized the Company to resume negotiations with Sete Brasil Participações S.A. (currently under judicial reorganization at the 3rd Business District Court of Rio de Janeiro), at the request of Sete Brasil. Any result of these negotiations will... Continue Reading →
Brazil Energy Insight 