Lawmakers voted on Friday to begin proceedings that could oust President Pedro Pablo Kuczynski of Peru, the latest leader accused of involvement in a corruption scandal that has shaken some of Latin America’s biggest countries. The dispute involves Odebrecht, a Brazilian construction giant, which last year admitted to paying roughly $800 million in payoffs in... Continue Reading →
Petrobras – Disbursement of the first installment of new financing with the China Development Bank
Rio de Janeiro, December 14, 2017 - Petróleo Brasileiro SA - Petrobras, further to the press release disclosed on 12/05/2017, announces that it has disbursed the first installment of the financing contracted with the China Development Bank (CDB), in the amount of US$ 3 billion. The remaining balance of the contract, US$ 2 billion, is... Continue Reading →
Petrobras – Decision in arbitration related to Sete Brasil
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 →
Crucial Pension Overhaul Stalls in Brazil
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
Exclusive: Chevron nears Schlumberger deal to drill wells in Brazil
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 →
Petrobras – Sale of 100% equity interest in BSBios: Opportunity Disclosure – Teaser
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 →
Goldman Says Big Oil Is Poised for Its Best Year in Decades
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 →
Gas Demand to Get Boost as Supply Surge Sends Prices Lower
China, India, Brazil, South Korea and Australia will lead the world in gas demand growth, with consumption rising in each country between 2.3 percent and 4.8 percent a year until 2040, according to the report. Consumption in Japan, the world’s biggest importer of LNG, will contract 0.3 percent a year over the period as nuclear... Continue Reading →
World Bank promises to stop financing oil & gas projects
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 →
Brazil appeals court schedules early decision on Lula appeal
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
