After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts. A slump in new production outside the U.S. shale patch in 2019 could help to send Brent crude briefly back above $100 a barrel next year, according to London-based consultancy Energy Aspects. Read more

Brazil’s economic and political future will be shaped by what happens in a courtroom in the southern city of Porto Alegre on Jan. 24. That’s the day a three-judge panel of the Fourth Federal District Court will decide whether to uphold former President Luiz Inacio Lula da Silva’s nine-and-a-half year sentence for graft and money... Continue Reading →

The oil and gas sector in Brazil has been attracting new players. Companies from countries such as the United States, Netherlands, Switzerland, Denmark, France and China are settling in the country and, mainly, partnering with national companies with a view to resuming the activity of the oil industry. This movement began to gain momentum last year and... Continue Reading →

Rio de Janeiro, January 19, 2018 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the press release of 07/18/2017, informs that negotiations with Odebrecht S.A. to revise the terms and conditions of the Braskem S.A. Shareholder’s Agreement currently in effect, have evolved into studies with the purpose of carrying out a corporate restructuring with the... Continue Reading →

Schlumberger Ltd. surpassed fourth-quarter profit expectations as the oilfield-services sector emerged from its worst downturn in almost a decade. Excluding certain items, Schlumberger reported profit of 48 cents a share, according to a statement Friday, better than the 44-cent average of 33 analysts’ estimates compiled by Bloomberg. Read more

Rio de Janeiro, January 18, 2018 - Petróleo Brasileiro S.A. – Petrobras reports to have received today Official Letter No. 23/2018/CVM/SEP/GEA-1, requesting the following clarification: Official Letter No. 23/2018/CVM/SEP/GEA-1 "Dear Sir, We refer to the news published on 01/17/2018 in Ancelmo Gois' column in the newspaper O Globo, under the title: "Kramer vs. Kramer" which... Continue Reading →

Brazilian state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) owes the government billions of dollars tied to offshore exploration rights but is unlikely to pay this year, a cabinet minister said. The government’s 2018 budget does not include any revenue from the so-called “transfer of rights” area that has sparked a dispute with the company also... Continue Reading →

China invested $20.9 billion in Brazil in 2017, the most since 2010 as a recession helped push down asset prices and attracted investors, according to Brazil’s planning ministry. The energy, logistics and agriculture sectors drew the most Chinese capital, including investments in Brazil’s rich pre-salt oil fields and China’s State Power Investment Corp $2.25 billion... Continue Reading →

  U.S. oil output is set for “explosive” growth this year as prices rally, potentially offsetting a further collapse in Venezuela’s production, the International Energy Agency said. The agency is joining a chorus of voices from Goldman Sachs group Inc. and OPEC’s own analysts in warning of a surge in U.S. production as oil hits three-year highs. Output... Continue Reading →