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The Latin American state-run oil companies whose largesse filled government coffers from Mexico to Brazil during the crude boom of the previous decade are quickly becoming dangerous liabilities as soaring debt levels spook investors. Regional leaders are being forced to shelve plans to spend petro-cash on popular projects after oil prices plunged more than 50 percent... Continue Reading →
Rio de Janeiro, March 8, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the amount of US$ 1 billion, associated with the financial leasing of P-52 platform, signed with ICBC Leasing (Industrial and Commercial Bank of China Leasing) and announced to the market on October 13th,2015, was disbursed today. The transaction has a 10... Continue Reading →
Marcelo Odebrecht, the former head of one of Brazil’s largest industrial conglomerates, was sentenced to 19 years and four months in jail for crimes including corruption and money laundering. Odebrecht, who ran the Odebrecht SA holding company that owns Latin America’s largest builder until he was arrested last year, was convicted of crimes including corruption,... Continue Reading →
Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA is escorted by Federal Police officers as he arrives at the Institute of Forensic Science in Curitiba, Brazil, June 20, 2015. REUTERS/RODOLFO BURHER March 8,2016 The former chief executives of major Brazilian builders Odebrecht SA [ODBES.UL] and OAS Empreendimentos SA [OAS.UL]... Continue Reading →
One person was burned when a unit that makes diesel ruptured on Saturday morning in a ground-shaking blast at the Pasadena, Texas, refinery owned by Brazil's national oil company Petrobras, the company said. Petrobras said in a statement the fire, which started around 10:15 a.m. CT, had been contained by mid-afternoon at the 100,000 barrel... Continue Reading →
Mar 7, 2016 Petroleo Brasileiro SA will report its 2015 financial results on March 21 after market close.
03/04/2016 Rio de Janeiro, March 4, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 71/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 71/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Empresas (Companies) section of the newspaper Valor Econômico, entitled: Petrobras perde US$1.95 bi no Japão (Petrobras... Continue Reading →
Mar 4, 2016 Reuters A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/UESLEI MARCELINO Brazil's state-run oil company Petroleo Brasileiro SA said on Friday it plans to sell its rights to 104 onshore oil and gas concessions, part of efforts to raise cash and focus increasingly... Continue Reading →
By Editorial Board The detention of Brazil’s former president Luiz Inacio Lula da Silva marks a new stage in the corruption probe that has all but paralyzed the government for the past two years. Meanwhile, as that drags on, the economy keeps spiraling downward. One way or another, Brazil urgently needs to resolve the scandals... Continue Reading →
Output of oil and natural gas in Brazil fell to its lowest in 14 months in January as companies performed maintenance on offshore oil platforms, the country's petroleum regulator ANP said on Thursday. Forty-three companies in Brazil produced an average of 2.965 million barrels of oil and equivalent natural gas a day (boepd) in the... Continue Reading →
Brazil Energy Insight 