Brazilian prosecutors are investigating text messages from an engineering executive that may show President Dilma Rousseff's chief of staff favored construction firms that donated to his party while he was state governor, the Estado de S. Paulo newspaper reported on Thursday. A separate set of messages from the same executive may indicate Aldemir Bendine, chief... Continue Reading →
Petrobras 5-year investment plan to make more cuts -paper
Thu Jan 7, 2016 Reuters Brazilian state-run oil company Petrobras will present a five-year investment plan in coming weeks that is even leaner than the $19 billion announced in October, newspaper Estado de S. Paulo reported on Thursday. The plan will likely be presented in February, the newspaper said, citing anonymous sources. In addition to... Continue Reading →
Sete Brasil Rig Venture Said to Mull Bankruptcy Filing in Brazil
Grupo BTG Pactual and other investors in a troubled drilling-rig supplier will meet this month and decide whether Sete Brasil Participacoes SA will file for bankruptcy protection after oil prices collapsed and it was cited in a sprawling corruption scandal, four people with direct knowledge of the matter said. Shareholders may vote to seek legal... Continue Reading →
Petrobras ends rig contract with Ensco over bribe charges
Wed Jan 6, 2016 Reuters Petrobras ends rig contract with Ensco over bribe charges The logo of Brazil's state-run Petrobras oil company is pictured outside its headquarters in Rio de Janeiro, Brazil, December 17, 2015. REUTERS/RICARDO MORAES Rig contractor Ensco Plc said Brazilian oil producer Petrobras has ended a contract for a drillship over allegations... Continue Reading →
Petrobras Oct. 2015 report – for future comparison purposes
In a few weeks Petrobras will release an update of this report. I am re-posting the Oct/2015 report to keep at hand for comparison purposes and to draw your attention to slide 22 comparing the old development plan with the newer version. Petrobras Update_Oct2015
Mitsubishi-led group exiting stake in Brazil shipyard -report
A group of Japanese shipbuilders led by Mitsubishi Heavy Industries Ltd (MHI) plans to exit its 30 percent stake in Brazilian shipbuilder Ecovix and declare the investment as a loss, Valor Economico newspaper reported on Tuesday. The group led by MHI plans to sell its stake in Ecovix, which it bought in 2013 for about... Continue Reading →
Mitsubishi Heavy Industries to leave Ecovix Shipyard
A five Japanese companies consortium led by Mitsubishi, prepares to leave the capital of Ecovix, which controls the Rio Grande Shipyard (ERG). The consortium took over 30% stake in the business just over two years for $ 300 million. According to a report by Francisco Garcia, the sale of that stake to the holding Jackson... Continue Reading →
Petrobras CEO’s Challenges Aren’t Going Away/WSJ
Oil giant’s turnaround is stalled amid cheap oil prices and high debt Aldemir Bendine has been the company’s chief for 11 months. Aldemir Bendine has been the company’s chief for 11 months. PHOTO: UESLEI MARCELINO/REUTERS By WILL CONNORS and PAUL KIERNAN Jan. 4, 2016 8:50 p.m. ET RIO DE JANEIRO—In his 11 months at the... Continue Reading →
Brazil November oil, gas output lowest in a year after strike
Brazil's oil and natural gas output was the lowest in a year in November as a strike reduced production from fields run by Brazil's biggest operator, state-run Petroleo Brasileiro SA, oil regulator ANP said in a statement on Monday. Oil companies in the country produced 2.972 million barrels a day of oil and natural gas... Continue Reading →
Petrobras starts the year with a new round of renegotiations with suppliers
01.04.2016 | News release Petrobras starts the year with a new round of renegotiations with suppliers Petrobras said it plans to launch this month a new round of renegotiations of suppliers contracts in an attempt to reduce their operating costs. In 2015, the company managed to reduce by 13% on average, several contracts in the... Continue Reading →
