Lawmakers voted on Friday to begin proceedings that could oust President Pedro Pablo Kuczynski of Peru, the latest leader accused of involvement in a corruption scandal that has shaken some of Latin America’s biggest countries. The dispute involves Odebrecht, a Brazilian construction giant, which last year admitted to paying roughly $800 million in payoffs in... Continue Reading →

Rio de Janeiro, December 14, 2017 - Petróleo Brasileiro SA - Petrobras, further to the press release disclosed on 12/05/2017, announces that it has disbursed the first installment of the financing contracted with the China Development Bank (CDB), in the amount of US$ 3 billion. The remaining balance of the contract, US$ 2 billion, is... Continue Reading →

Rio de Janeiro, December 15, 2017 - Petróleo Brasileiro SA - Petrobras, pursuant to CVM Instruction 358/2002, informs about an arbitration award, favorable to the company, which rejected a request made by an investor of Sete Brasil Participações SA, in judicial reorganization, in the arbitration proposed against Petrobras, with the purpose of obtaining reimbursement of... Continue Reading →

Brazil’s government threw in the towel on its efforts to vote on a flagship social security reform this year, kicking the bill back to February and raising the prospect that nothing will be done about the country’s ballooning pension obligations until after next year’s elections. Read more

  Chevron Corp has reached preliminary agreement with oil services firm Schlumberger NV to drill six wells in a Brazilian offshore field, two sources said this week, in a bid to lift its output in the South American country after a 2011 oil spill there cut production. Six wells would be drilled in the Frade... Continue Reading →

Rio de Janeiro, December 14, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the opportunity disclosure stage (“Teaser”) related to the sale of 100% of the shares held by Petrobras Biocombustíveis ("PBIO"), a wholly-owned subsidiary of Petrobras, in the company BSBios, which corresponds to 50% of the company's capital. BSBios owns... Continue Reading →

Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc.  In 2018, companies from Royal Dutch Shell Plc to Exxon Mobil Corp. will find themselves with a surplus of cash to fund dividends, ruling the world of deep water mega-projects and even coming out ahead in tax negotiations with oil-reliant... Continue Reading →