The oil, natural gas and biofuels areas already have investments guaranteed around R $ 800 billion by the end of the next decade with projects announced or contracted by the government since May 2016. In a positive tone, on the eve of a change in the team that will be triggered by Minister Fernando Coelho... Continue Reading →

March 20, 2018 The Ministry of Transparency and Comptroller General of the Union (CGU) said on Tuesday (20/3) the company Sanko Sider is ineligible to contract with the public administration. The decision is the eighth penalty applied to the companies investigated in Operation Lava Jato. The punishment prevents for at least two years participation in... Continue Reading →

The Brazilian central bank is likely to cut interest rates once again to a new low on Wednesday as stubbornly muted inflation derailed its plans to halt monetary easing. Read more

British oil major BP has appointed the first woman chairman and president of BP America Inc., BP’s chief representative in the United States. BP said on Tuesday that Susan Dio would take the positions of BP America’s chairman and president on May 1, 2018. Read more

March 21, 2018 By Edmar de Almeida In March Petrobras announced the financial result for the year 2017. The company reported a loss of R$ 446 million. Although small compared to the losses of previous years, this new loss is discouraging. This is the company's fourth year of losses. The accumulated losses in the last... Continue Reading →

Rio de Janeiro, March 20, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in February was 2.69 million barrels of oil equivalent per day (boed), with 2.59 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (portions of Petrobras... Continue Reading →

Rio de Janeiro, March 19, 2018 - Petróleo Brasileiro S.A. – Petrobras reports to have received the Official Letter no. 424/2018-SAE, from B3,  which requests the following clarification: Official Letter no. 424/2018-SAE “Dear Sirs, In an article published on 03/16/2018 by the newspaper Valor Econômico, under the heading ‘Petrobras could pay dividends in the 1st... Continue Reading →

Mergers & acquisitions activity in the UK oil and gas sector is expected to continue in 2018, however it is not expected to match the levels reached in 2017. In its 2018 Business Outlook released on Tuesday, Oil & Gas UK looked at the big mergers and acquisitions in the past year. Oil and Gas... Continue Reading →

Bank of America Corp, Itau Unibanco Holding SA and Banco Bradesco SA are arranging financing for a consortium led by Macquarie Group Ltd. so it can bid for Petroleo Brasileiro SA’s natural gas pipeline network in northeastern Brazil, said three people with knowledge of the matter. The bridge-loan, which could reach $6 billion, will probably be... Continue Reading →

Rio de Janeiro, March 20, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has decided to mothball its fertilizer plants located in Sergipe ("Fafen-SE") and Bahia ("Fafen-BA"). The decision to mothball these units is aligned with the company’s strategic position to fully withdraw from fertilizer production activities, pursuant to its 2018-2022 Business and... Continue Reading →