No honor among….. The large contractors investigated by the Lava Jato discovered corruption schemes within their own structures of corruption. That is to say: a kind of deviation of the deviation. Large contractors, among them Odebrecht, began to identify cases where officials responsible for paying the kickback ended up pocketing some of the money, diverted... Continue Reading →
Peru asks Odebrecht for payment as condition to plea deal
Jan 2 The office of Peru's attorney general announced on Monday that it has asked Odebrecht for a "significant sum" of money as a precondition to negotiating a plea deal after the Brazilian company acknowledged bribing unnamed Peruvian officials. Hamilton Castro, the lead prosecutor investigating Odebrecht, added that he expects to obtain the names... Continue Reading →
Debate about local content rules divides industry and oil operators
Valor Econômico 2 Jan, 2017. Renato Rostás and Rodrigo Polito RICH PRESS / BLOOMBERG Debate about local content rules divides industry and oil operators On the one hand, oil companies want changes; on the other hand, companies ask for more time. Equipment manufacturers claim to have invested $ 60 billion since the discovery of the... Continue Reading →
Some of the Tests Ahead for Brazil’s President: QuickTake Q&A
President Michel Temer of Brazil is in choppy waters, four months after the impeachment of his predecessor, Dilma Rousseff. His majority in Congress has shown signs of crumbling, his bill to cap spending passed the Senate by a much-narrower-than-expected margin, and some leaders in his own coalition are publicly voicing discontent. On and off protests over... Continue Reading →
Brazil could simplify oil tax rules as part of broad reform- source
Thu Dec 29, 2016 Brazil's government is considering simplifying the tax regime of the oil and gas industry as well as changes to levies on the financial system as part of a broad tax reform in 2017, a government source familiar with the matter told Reuters on Thursday. "These are the general ideas of what... Continue Reading →
Petrobras misses two-year sale target. Blames court for blocking Karoon deal
Offshore Energy Today zoom Brazil’s state-owned oil company Petrobras has fallen $1.5 billion short of its two-year asset divestment target. The company blamed the court order blocking the sale of two fields to Australia’s Karoon for missing the target. Petrobras said on Thursday that its divestments program has chalked up a total of $13.6 billion in the... Continue Reading →
Speculation
Petrobras president Pedro Parente has told reporters that assuming Eliseu Padilha's place as the president’s Chief of Staff is not in his plans. The idea has been aired in Brasilia by people for whom the post should be occupied by someone with an executive profile, not a political one. Forget me. Parente replies that the... Continue Reading →
Queiroz Galvao buys Premier’s Foz do Amazonas interest
Queiroz Galvao buys Premier's Foz do Amazonas interest. Brazilian independent gains full ownership of Block FZA-M-90 in the northern equatorial margin
A Brazilian bribery machine / Odebrecht
A Brazilian bribery machine Record fine for illegal payments by Odebrecht raises hopes of end to the country’s culture of impunity The Big Read by: Joe Leahy/FT It revamped the Maracanã stadium, Brazil’s home of football in Rio de Janeiro, for the 2014 World Cup, developed one of the largest hydroelectric dams in Africa and built... Continue Reading →
Brazil oil and gas output reaches 3.307 million bpd in November: ANP
Wed Dec 28, 2016 Oil and natural gas production in Brazil reached 3.307 million barrels of oil equivalent per day in November, according to a report released by the government's petroleum industry regulator ANP on Friday. Oil production fell 0.6 percent from October to 2.609 barrels per day, with more than one-quarter of this coming... Continue Reading →
Brazil Energy Insight 