Petróleo Brasileiro SA will appeal a court decision that suspended bidding for the lease of a first floating production, storage and offloading (FPSO) platform for the giant Libra off-shore oil field, the company said on Wednesday. The Brazilian shipbuilders association Sinaval obtained an injunction suspending the bidding process based on its argument that the auction... Continue Reading →
Guyana government to form petroleum directorate
zoomGuyana Minister of Natural Resources, Raphael Trotman; Image source: GINA After oil discoveries offshore Guyana came into the spotlight in recent months, the Ministry of Natural Resources has decided to form a Petroleum Directorate. Guyana and its oil prospects have received a lot of attention in recent months after the U.S. oil giant ExxonMobil declared... Continue Reading →
Rolls-Royce Concludes Bribery Settlements in U.S., U.K., Brazil
Rolls-Royce Holdings Plc won approval from a U.K. judge for its settlement with British prosecutors as the U.S. Justice Department unsealed a parallel agreement with the company in Ohio the day after the company announced it would pay $800 million in total to resolve bribery probes in both countries as well as Brazil. In London,... Continue Reading →
Brazil’s Odebrecht settling bribe cases in 12 countries
Brazil's largest engineering conglomerate Odebrecht SA [ODBES.UL] plans to reach settlements in all 12 countries where it has admitted to paying bribes to obtain contracts, two sources with knowledge of the matter told Reuters on Tuesday. The family-owned firm signed a $1.94 billion leniency deal with U.S., Swiss and Brazilian prosecutors in December for its... Continue Reading →
Brazil may hold second sub-salt oil licensing round this year
Brazil may hold a second licensing round this year for new oil exploration areas in an offshore region known as the sub-salt where massive discoveries have been made, the Energy Ministry said on Tuesday, as it looks to spur economic growth. Seeking to attract investment and avoid a third year of recession in 2017, the... Continue Reading →
Brazil firms shun Trump fears in busiest debt, stock window in years
Brazil's busiest pipeline of bond and equity offerings in at least six years is being fueled by increasing investor confidence in the country's ability to emerge from a harsh recession and shrug off global market turmoil, bankers said. In what the bankers say is a window for offerings that opened last week and may extend... Continue Reading →
PHOTO: FMC Technologies delivers its ‘last’ subsea tree
FMC Technologies, a US-based provider of subsea systems for offshore oil and gas industry has delivered its last subsea tree, a piece of equipment used for the monitoring and control of production from offshore wells. Namely, the company, which has delivered more than 2000 units over the years, on Saturday shared a photo of... Continue Reading →
Exclusive: Brazil’s Temer says unemployment, not graft probe, biggest worry
Brazil's priority this year will be job creation as its economy emerges from the worst recession on record, President Michel Temer said on Monday, dismissing speculation that key labor and pension reforms could be derailed by a corruption scandal. In an interview with Reuters, Temer said that Latin America's largest economy would exit a two-year... Continue Reading →
Brazil’s Camargo Correa seeks new plea deal over corruption -Veja
Construtora Camargo Correa SA, one of Brazil's biggest engineering firms, is in talks with federal prosecutors for a new plea bargain deal linked to the country's sweeping "Operation Car Wash" corruption scandal, weekly magazine Veja said on Saturday. According to Veja, which cited people with direct knowledge of the talks, lawyers for Camargo Correa are... Continue Reading →
Odebrecht to Pay $59 Million, Panama Official Says
Agreement is part of Panamanian government’s probe into alleged bribery payments by the company By ROGERIO JELMAYER Jan. 13, 2017 9:06 p.m. ET 0 COMMENTS SAO PAULO—Brazilian construction conglomerate Odebrecht SA agreed to pay at least $59 million as part of the Panamanian government’s probe into alleged bribery payments by the company, Panama’s attorney general... Continue Reading →
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