Good news to start the 2018 on the right foot. It took longer than thought but Petrobras announced the winners of the tender for the maintenance of 25 oil platforms of the Campos Basin. The winning companies are Spanish Cobra Instalaciones Y Servicios, CSE Mecânica e Instrumentação, of the Aker Solutions Group, and Enesa... Continue Reading →

BP Plc, the British oil major that invests more in the U.S. than anywhere else, expects to take a charge of about $1.5 billion following recent tax changes in the country, despite the prospects of long-term gains from the legislation. Read more

Rio de Janeiro, December 28, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 9/5/2017 and press release disclosed on 10/23/2017, informs the start of the binding phase regarding the sale process of 90% of its stake in Transportadora Associada de Gás S.A. ("TAG"), Petrobras wholly-owned subsidiary. At this stage... Continue Reading →

  Petrobras may be making progress in its plan to reduce debt, but a former shareholder in the state-controlled energy giant isn’t ready to jump back in quite yet. Aberdeen Asset Management Plc, the Scottish emerging-markets investor that backed Petrobras for more than a decade, exited the bet in 2014 as the Brazilian oil producer dealt... Continue Reading →

Brazil’s top prosecutor has launched a legal challenge against pardons made by President Michel Temer just before Christmas, alleging they are unconstitutional and threaten the Car Wash probe into the country’s largest-ever corruption scandal. Read more

Rio de Janeiro, December 27, 2017 - Petróleo Brasileiro SA - Petrobras informs that in December it executed, directly or through its controlled companies, debt prepayments in the total amount of US$ 5.1 billion, with the following creditors: BNDES , Morgan Stanley, Export Development Canada (EDC), Santander, The Bank of Tokyo-Mitsubishi UFJ, Citibank, Kreditanstalt für... Continue Reading →

Brazil once again is in the aim of the major IOC’s. Attracted by the pre salt bidding rounds and the Petrobras divestment program, IOC’s have invested approximately R$30 billion (U$9.25 billion) during 2017 in the acquisition of assets. Statoil with investments of U$3.66 billion leads the pack, followed closely the ExxonMobil with U$3.28 billion; Total... Continue Reading →

  In a symbolic and decisive moment for its survival, the Atlantic South Shipyard (EAS) launched its 11th ship, baptized Castro Alves. The delivery is the first of the Aframax - oil tanker model slightly smaller than the ones produced by the shipyard and the last one in 2017, the year in which the enterprise... Continue Reading →

  BP Global Investments has signed an investment agreement to acquire 30% of Gás Natural Açu (GNA), a subsidiary of Prumo Logística. The British company will invest U$ 7.5 million through the subscription of new shares. The agreement signed between the companies also establishes the rules for investment in UTE GNA I Generation of Energy... Continue Reading →

Odebrecht Oil and Gas reported that the restructuring of its financial debt was completed last Friday with the exchange of Notes 2021 and 2022 and the perpetual notes issued by its subsidiaries. The exchanges occurred after the company's extra judicial recovery plans were ratified by the courts of Brazil and the United States, the company... Continue Reading →