Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied media reports that he received $10 million in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico. “I have never participated in acts of corruption. These publications have lied repeatedly on this and other issues, and have never proven their allegations,” Lozoya said... Continue Reading →

Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership, both companies are set to increase their operational and service activities, and expand their presence in Latin America, Royal IHC said in a statement on Thursday. The association... Continue Reading →

KUALA LUMPUR (Aug 10): National oil firm Petroliam Nasional Bhd (Petronas) is among the first batch of oil majors approved by the the licensing committee of Brazil's hydrocarbons regulator ahead of the country’s 14th licensing round for oil and gas concessions, scheduled for 27 September. Energy portal Upstreamonline this morning reported that the 14-strong list... Continue Reading →

When former Brazilian President Dilma Rousseff's government repeatedly missed its fiscal targets, investors fled the country. Now that her successor, Michel Temer, seems poised to do the same, financial markets appear unperturbed. Finance Minister Henrique Meirelles is expected to announce in the coming weeks a wider budget deficit goal for 2017 as a slower-than-expected economic... Continue Reading →

  09/08/2017 Odebrecht is changing the names and logos of all its companies this month as part of a strategy to distance itself from corruption with Petrobras, which revealed that the company paid billions in bribes. The name of the group will not change, but will be removed from all companies, such as "Odebrecht Oil... Continue Reading →

Nicolas Maduro was in his element, flanked by an enormous Venezuelan flag, beneath a portrait of Simon Bolivar on horseback, in front of a statue of Hugo Chavez, praising foreign companies wise enough to make deals with what he called “our beloved PDVSA.” That would be Petroleos de Venezuela SA, the state-owned oil giant struggling to... Continue Reading →

BY MANOEL VENTURA /Globo The Repetro program suspends the collection of federal taxes on the importation of equipment destined to the petroleum sector. Under the new rules, similar domestic products will undergo the same tax treatment. The provisional measure is being finalized by the federal government, according to sources accompanying the lawsuit. Created in 1999,... Continue Reading →

Prosafe, an owner and operator of semi-submersible accommodation rigs known as flotels, will lay up another one of its units, following contract completion with Petrobras.  In its operational update for 2Q 2017 on Monday, Prosafe said that its 2005-built flotel Safe Concordia was fully contracted in the second quarter for Petrobras at a market adjusted dayrate.... Continue Reading →