Brazil’s top appeals court on Tuesday denied a request by former President Luiz Inacio Lula da Silva that he not be sent to prison on a corruption conviction before he has exhausted his appeals. Read more

Oil major Chevron Corporation plans to maintain its discipline in spending during 2018 with a budget of $18 billion for the year.  Chevron on Tuesday, March 6 hosted its annual security analyst meeting in New York, where executives highlighted the company’s plans to excel in any market environment. Read more

Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field. “Total today is the most profitable major company without any shale,” Patrick Pouyanne said in an interview Monday on Bloomberg Television. Instead, Pouyanne said his company is focused on five... Continue Reading →

The National Petroleum Agency closed the list with companies that will participate in the 15th Round of Bids, which will take place on the 29th. There are 17 companies registered for offshore and four for onshore projects. All companies work or have already worked in Brazil.   From the list of 17 companies registered to... Continue Reading →

Italian contractor Saipem has ended 2017 with a smaller annual net loss than it ran up in 2016, but new orders were down year on year too. CEO Stefano Cao said: “Despite the persistence of a challenging market context, the results for 2017 confirm the solid operational and managerial performance, underscored on more than one... Continue Reading →

Decal do Brasil co-founder Mariano Marcondes Ferraz was found guilty on corruption charges and sentenced to over 10 years in prison on Monday for bribing a former executive at state-run oil company Petroleo Brasileiro to win contracts for Ferraz’s own firm. Judge Sergio Moro found Ferraz guilty of paying $868,450 to Petrobras’ ex-director of refining... Continue Reading →

The government of oil-rich Guyana is reviewing an ‘Oil and Gas Master Plan’ for Guyana, which was developed and submitted by Mitsubishi Corporation and Chiyoda Corporation in collaboration with the government of Japan. Just last week ExxonMobil reported its seventh oil discovery located offshore Guyana. Exxon said it had encountered approximately 65 feet (20 meters) of... Continue Reading →

  This year should see Brazil's recovery deepen, but also holds the risk of a presidential election derailing it Petroleum Economist After a promising 2017, this year looks set to be a busy and productive one for Brazil's oil industry. The market re-opening will be consolidated with new acreage offers, important pre-salt projects are coming... Continue Reading →