Demand for investment-banking services slowed in Brazil on concern the nation’s credit rating would be cut, combined with the biggest corruption scandal in the country’s history, involving the state-owned oil company known as Petrobras. The slide will probably ease later this year, according to Jean-Marc Etlin, chief executive officer for Banco Itau BBA SA’s investment-banking... Continue Reading →

China’s anti-corruption investigators continued to zero in on the nation’s oil giants, calling on two of its biggest state-owned companies to review their overseas investments and accusing them of nepotism. One wonders if the recent investments in Brazil's pre salt Libra field will be investigated. Read More

According to local press sources, Petrobras is mulling over selling its natural gas subsidiary, Gaspetro. This is part of the divestment plan. Petrobras has hired Itau BBA Bank to structure the sale. Mitsui Gas and Energy is quoted as being the most likely candidate for the take over. Mitsui is already a joint venture partner... Continue Reading →

Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday. Read More

U.S. regulators have given the green light for Royal Dutch Shell's (RDSa.L) proposed $70 billion acquisition of British rival BG Group (BG.L), the first clearance for the biggest deal in the energy sector in over a decade. Read More

Statoil ASA, Norway’s state-controlled oil producer, will cut as many as 2,000 more jobs by the end of next year as it reacts to lower crude prices by slashing costs. Read More

Joseph Sigelman, the founder and former chief executive of a Colombian oil field-services provider called PetroTiger, pleaded guilty to conspiring to pay bribes to an official of the Colombian national oil company in violation of the Foreign Corrupt Practices Act (FCPA). Or that's what the Justice Department emphasized in a triumphant-sounding press announcement listing no... Continue Reading →

OSX Brasil, currently in Chapter 11, surprises and reports a first quarter, 2015,  profit of R$ 168.9 million against a loss of R$ 2.42 billion for same period last year. Net operating revenue was R$ 275.1 million, a leap of approximately 133% in comparison to last year. Big surprise.

Sikorsky’s operating profit will be down as much as $125 million on lower deliveries to the oil-and-gas industry. “We’ll have the decision on spin versus sale done, I think, in about 60 days -- probably by the end of July,” Chief Executive Officer Gregory Hayes told investors on a conference call at the Paris Air... Continue Reading →