Brought to you by Quest Offshore & Southern Cone Consultants
Brazil’s former President Luiz Inacio Lula da Silva was convicted of graft and money-laundering for his part in the country’s sweeping corruption scandal, potentially removing him from the political scene just as his prospects of returning to the presidency were gaining momentum. Sergio Moro, the lead judge in the multi-billion dollar corruption probe known as... Continue Reading →
Mexico’s decision to allow private companies to explore for oil and gas started to pay off after the discovery of at least a billion barrels in a new offshore field. A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CV and Talos Energy LLC made the discovery in the shallow waters of... Continue Reading →
BRASILIA (Reuters) - Brazil's Senate on Tuesday approved the country's first major overhaul of labor rules in seven decades in a crucial victory for beleaguered President Michel Temer as he seeks to pull the economy out of its worst ever recession. The bill, which modernizes some labor laws dating back to the 1940s, was passed... Continue Reading →
Petroleos Mexicanos has hired the same legal representation used by Brazilian utility Eletrobras to audit its contracts with Odebrecht SA and affiliate Braskem SA amid an ongoing investigation into those two companies by the U.S. Department of Justice. Read more
The rapporteur for a Brazilian lower house committee examining a corruption charge against President Michel Temer recommended on Monday that the body vote to put Temer on trial. Deputy Sergio Zveiter's recommendation was widely expected. The full 66-member committee is likely to vote later this week on the charge against Temer before the full house... Continue Reading →
By Ramona Ordoñez / Bruno Rosa - Globo 10/07/2017 RIO - The contraction of Petrobras' investments in the last three years has hit Rio de Janeiro, the country's largest oil producer and where the largest number of companies in the sector are concentrated. But after reaching the bottom of the well, projects in the area... Continue Reading →
Brazil's oil company Petróleo Brasileiro SA (PETR4.SA) disclosed on Thursday initial terms for a plan to sell its 70-percent stake in the Maromba oil field, at Campos basin, according to a securities filing. Petrobras, as the firm is known, said its partner in the field, Chevron Corp (CVX.N), will also sell its 30-percent stake in... Continue Reading →
Within a reasonable timeframe, rig dayrates, especially for deepwater drilling rigs, won’t increase from current cash break-even levels. Rig asset values are at less than 50% of build cost for most rigs (midwater harsh environment semisubs are the only real exception). Owners such as Seadrill and Pacific Drilling have outstanding debt which exceeds asset values... Continue Reading →
07/07/2017 17h20 The National Petroleum Agency (ANP) has placed for public consultation the pre-announcements and drafts of the contracts for the 2nd and 3rd rounds of the sharing regime in the pre-salt. The public consultation will be extended until July 21. The public hearing on the issue will take place on the 25th of this... Continue Reading →
Brazil's Senate has set a final vote on President Michel Temer's landmark labor reform bill for July 11, a sign congressional efforts to help revive a recession-hit economy are on track despite a swelling corruption investigation. Brazil's Senate on Tuesday evening passed a motion to fast-track the bill in a 46 to 19 vote. Read... Continue Reading →
Brazil Energy Insight 