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Mon Sep 7, 2015 Reuters Techint under investigation in Petrobras corruption probe MILAN The Techint Group, which controls listed steel pipe maker Tenaris, is being probed by Milan prosecutors over alleged international corruption regarding contracts awarded by Brazil's Petrobras, the company and sources said on Monday. Techint is being investigated by the prosecutors under a... Continue Reading →
Brazil's Braskem signs naphtha contract with Petrobras Brazilian petrochemical firm Braskem SA said on Friday it signed a naphtha contract with state-run oil firm Petrobras, valid until the end of October. The contract continues the terms of a previous deal, but Braskem said in a statement that it continued to work with Petroleo Brasileiro SA<... Continue Reading →
Petroleo Brasileiro SA is doing away with chauffeured cars, overseas training programs, office parties and other perks as part of a plan to save $12 billion in corporate spending, people familiar with the measures said. The chief executive officer and heads of divisions will be allowed to keep their cars with drivers, though, the people said, citing an... Continue Reading →
Undisclosed sources say that Exxon has team at Petrobras analyzing four pre salt blocks that may be for sale or participation. The blocks are Carcara and Jupiter in the Santos Basin and Pão de Açucar and Tartaruga in the Campos Basin. The majors (Shell and Exxon) show interest in the larger offshore blocks.
Bonds of Vantage Drilling Co. dropped as Petroleo Brasileiro SA terminated a $1.7 billion drill deal amid a bribery investigation. The deepwater-rig owner’s $1.1 billion of 7.5 percent secured bonds slid 5 cents to 42 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Its contract for... Continue Reading →
Denmark's shipping and oil group A.P. Moller-Maersk said one of its employees in Brazil received a request from authorities last month to provide additional information for a corruption investigation at state-run oil firm Petrobras. Prosecutors say Maersk, which first met with Brazilian investigators in July 2014, is one of more than a dozen foreign companies... Continue Reading →
September 01, 2015 17:25 ET Vantage Drilling Company Receives Notice of Drilling Contract Termination HOUSTON, TX--(Marketwired - Sep 1, 2015) - Vantage Drilling Company (NYSE MKT: VTG) ("Vantage") received a notice dated August 31, 2015 (the "Notice") from Petrobras America, Inc. ("PAI") and Petrobras Venezuela Investments & Services B.V. ("PVIS") stating that PAI and PVIS... Continue Reading →
Brazil oilworkers tell Petrobras open-ended strike to start Friday Sept 1,2015 - Reuters Brazil's largest oil-workers' union advised Petroleo Brasileiro SA that it plans to begin a open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40 percent in... Continue Reading →
Brazil's state-led oil company Petrobras said late Monday that it would raise the wholesale price of liquefied petroleum gas (LPG) by 15 percent effective Tuesday, the first price adjustment for the essential cooking gas in 13 years. Earlier on Monday Reuters reported that Petrobras had informed distributors of the gas-price increase, which is effective for... Continue Reading →
The outlook for Petroleo Brasileiro SA worsened further after UBS AG cut its earnings projection by 80 percent, spurring a slide in the oil producer at the center of Brazil’s largest graft probe. The Ibovespa followed a selloff in global stocks. Shares of Petrobras extended a plunge over the past year to 63 percent, more... Continue Reading →
Brazil Energy Insight 