June 01, 2017 In April 2017, oil production in Brazil totaled 2,539 million barrels per day (bbl / d). The volume represents a growth of 10.9% in relation to the same month in 2016 and a decrease of 0.4% in comparison with the previous month. Meanwhile, natural gas production was 103 million cubic meters per... Continue Reading →

JUNE 2, 2017   Schahin OIL & GAS has a new face. Or rather, new name. The company that carried the founders' last name for 50 years is now called Base. The move is part of the restructuring following the corruption scandals discovered by the Lava Jato operation and follows the course of the judicial... Continue Reading →

Brazil is taking steps to promote new renewable-energy projects as the government seeks to reassure the industry that political turmoil won’t threaten current power policies. The country will organize at least one power auction for clean-energy projects this year, according to Eduardo Azevedo, secretary of energy planning and development at the Ministry of Mines and... Continue Reading →

The biggest winners in President Donald Trump’s decision to walk away from the Paris climate accord are oil, coal and natural gas producers. And even they aren’t popping Champagne corks. The president, who has called climate change a hoax, cast aside any lingering doubts about his commitment to fossil fuels Thursday when he announced the... Continue Reading →

Brazil's economy emerged from its worst recession on record with its fastest growth rate in nearly four years, data showed on Thursday, boosting President Michel Temer's case for staying in office as he battles a corruption scandal. Brazil's gross domestic product (GDP) grew 1.0 percent in the first quarter from the preceding one, matching economists'... Continue Reading →

Exxon Mobil Corp's (XOM.N) chief executive said on Wednesday the company would reconsider how it communicates the risks its faces from climate change after shareholders approved a measure calling for increased transparency. The non-binding proposal passed with 62 percent of ballots cast in a rare defeat for Exxon's management, which had recommended a vote against... Continue Reading →

State-owned Pre-salt Petróleo S.A. (PPSA), which is responsible for representing the interests of the federal government in the Pre Salt Sharing Contracts, will launch an international tender to hire a marketing agent in the second half of 2017. International companies that do not operate in the country will be able to participate, provided they establish... Continue Reading →

Brazil’s central bank kept the pace of monetary easing and signaled future rate cuts may not be as aggressive amid a fresh political crisis that has rocked the country. The bank’s board led by President Ilan Goldfajn reduced the benchmark Selic rate by a full percentage point to 10.25 percent on Wednesday, as forecast by 43... Continue Reading →

A former Brazilian cabinet minister is offering prosecutors evidence of graft involving two prominent billionaires who allegedly sought help from politicians to undertake deals during the left wing Workers Party administration, two newspapers reported on Wednesday. Antônio Palocci has decided to cooperate with prosecutors in exchange for a lighter sentence related to his role in... Continue Reading →

In the hot and humid town of Caicara, in the heart of Venezuela, some 20 piers jutting out of the vast Orinoco river gather mildew and rust. Brazilian construction company Odebrecht ODBES.UL was meant to build an 11-km (seven-mile) bridge in the town - the longest in the South American country - in 2011 but... Continue Reading →