Rio de Janeiro, December 14, 2017 - Petróleo Brasileiro SA - Petrobras, further to the press release disclosed on 12/05/2017, announces that it has disbursed the first installment of the financing contracted with the China Development Bank (CDB), in the amount of US$ 3 billion. The remaining balance of the contract, US$ 2 billion, is... Continue Reading →

Rio de Janeiro, December 15, 2017 - Petróleo Brasileiro SA - Petrobras, pursuant to CVM Instruction 358/2002, informs about an arbitration award, favorable to the company, which rejected a request made by an investor of Sete Brasil Participações SA, in judicial reorganization, in the arbitration proposed against Petrobras, with the purpose of obtaining reimbursement of... Continue Reading →

Brazil’s government threw in the towel on its efforts to vote on a flagship social security reform this year, kicking the bill back to February and raising the prospect that nothing will be done about the country’s ballooning pension obligations until after next year’s elections. Read more

  Chevron Corp has reached preliminary agreement with oil services firm Schlumberger NV to drill six wells in a Brazilian offshore field, two sources said this week, in a bid to lift its output in the South American country after a 2011 oil spill there cut production. Six wells would be drilled in the Frade... Continue Reading →

Rio de Janeiro, December 14, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the opportunity disclosure stage (“Teaser”) related to the sale of 100% of the shares held by Petrobras Biocombustíveis ("PBIO"), a wholly-owned subsidiary of Petrobras, in the company BSBios, which corresponds to 50% of the company's capital. BSBios owns... Continue Reading →

Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc.  In 2018, companies from Royal Dutch Shell Plc to Exxon Mobil Corp. will find themselves with a surplus of cash to fund dividends, ruling the world of deep water mega-projects and even coming out ahead in tax negotiations with oil-reliant... Continue Reading →

World Bank Group, an international financial institution, has decided to stop financing upstream oil and gas projects in a bid to help tackle climate change.  The World Bank said on Tuesday at the One Planet Summit, convened by French President Emmanuel Macron, it would stop financing upstream oil and gas after 2019 in order to align... Continue Reading →

A Brazilian appeals court on Tuesday said it would decide on Jan. 24 on an appeal by former President Luiz Inacio Lula da Silva against a corruption conviction that could bar him from running in the 2018 presidential race. Read more

DECEMBER 12, 2017 / 4:16 PM / UPDATED AN HOUR AGO Reuters Staff BRASILIA (Reuters) - Brazil’s Senate on Tuesday gave the green light to an extension of a preferential customs regime for the oil industry that has made the country more attractive to major global oil companies, sending the measure to the lower house... Continue Reading →