Former billionaire Eike Batista became one of the targets of a police investigation into money laundering in the state of Rio de Janeiro, signaling Brazil’s largest corruption probe continues to expand. Brazil’s federal police was serving nine preventative arrest orders and several search warrants Thursday morning as part of an investigation into a money laundering... Continue Reading →
Oil Traders Aren’t So Sure About Republicans’ Border Tax Plan
President Donald Trump has dealt global oil markets a major case of whiplash. After piling into bets that the benchmark prices for crude oil traded in New York and London would converge by December 2018, traders are now paring those wagers amid doubts that a Republican Congress will be able to push through plans for a levy on... Continue Reading →
Petrobras Divestment project of shallow water assets
Rio de Janeiro, January 23, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that a Regional Federal Court issued a decision on January 18, 2017 to grant suspensive effect to Petrobras' appeal in the divestment project regarding the transfer of rights in a set of shallow water fields, located in the states of Sergipe and... Continue Reading →
Odebrecht plans IPO for 2018 and plans exit of the family from control of the group
The construction company Odebrecht organizes the exit of the family that controls the company and plans to open its capital in 2018. The information was disclosed on Tuesday by the newspaper Valor Econômico. Odebrecht Engenharia's IPO (Public Offering) was viewed with a bad eye by Marcelo Odebrecht, former president of the group and arrested in... Continue Reading →
Robots Are Taking Over Oil Rigs
The robot on an oil drillship in the Gulf of Mexico made it easier for Mark Rodgers to do his job stringing together heavy, dirty pipes. It could also be a reason he’s not working there today. The Iron Roughneck, made by National Oilwell Varco Inc., automates the repetitive and dangerous task of connecting hundreds... Continue Reading →
International Coalition files Lawsuit in District Court of Rotterdam, The Netherlands, for Damages Caused by Alleged Corruption and Fraud Perpetrated by Petroleo Brasiliero, certain affiliates and its Executives.
International Coalition files Lawsuit in District Court of Rotterdam, The Netherlands, for Damages Caused by Alleged Corruption and Fraud Perpetrated by Petroleo Brasiliero, certain affiliates and its Executives. | Business Wire <!-- 560x292 463x224 --> /js/libs/html5shiv-printshiv.js January 24, 2017 12:01 AM Eastern Standard Time ROTTERDAM, Netherlands--(BUSINESS WIRE)--An International coalition announced today that a lawsuit was... Continue Reading →
Peru Cancels Pipeline Contract With Odebrecht
Consortium led by tainted Brazilian construction giant to lose $7-billion deal for natural-gas pipeline/WSJ People in Lima on Thursday hold a poster reading ‘Detain them’ in a protest against engineering group Odebrecht. PHOTO: GUADALUPE PARDO/REUTERS By RYAN DUBE Jan. 23, 2017 1:46 p.m. ET LIMA—Peru will terminate a contract with a consortium led by Odebrecht... Continue Reading →
Odebrecht consortium for pipeline in Peru warns about cancellation of contract
The consortium Gasoduto Sur Peruano, in which Odebrecht holds a 55 percent stake, issued a warning last Friday that faced with the imminent impossibility of securing financing on Monday it is possible that the billionaire concession contract will be canceled. The Spanish Enagás holds 25 percent of the consortium and Peruvian Graña y Montero... Continue Reading →
‘Maersk Pacer’ nets two-year deal in Brazil
Danish offshore vessel owner Maersk Supply Service has been awarded a two-year contract with Brazil’s PetroRio for Maersk Pacer an anchor handler, to perform tanker lifting for offloading operations in Brazil. Maersk Supply Service’s CCO Carsten Gram Haagensen said: “With this contract, Maersk Supply Service demonstrates that we are a trusted and preferred vessel... Continue Reading →
Halliburton Profit Beats Estimates as U.S. Drilling Gains
Halliburton Co. reported fourth-quarter adjusted profit that beat analysts’ estimates after oil explorers kicked off a year-end recovery in North America where the service provider generates most of its sales. The world’s largest fracking services provider posted profit excluding certain items of 4 cents a share, according to a statement Monday, exceeding the 2-cent average of 39... Continue Reading →
