Brazil's government on Thursday lowered its annual inflation target for the first time in more than a decade, cutting it from 4.5 percent to 4.25 percent in 2019 and 4.00 percent in 2020. The reduction had been widely expected by economists and investors, according to Reuters polls conducted since January. It follows a plunge in... Continue Reading →
Brazil to consolidate position as oil exporter
Nielmar de Oliveira - Agência Brasil Faced with expectations of rising fuel demand in the coming years, Brazil could consolidate the position of net exporter of oil and net importer of derivatives, mainly diesel oil and aviation kerosene. The opinion is made by José Mauro Coelho, Director of Petroleum, Natural Gas and Biofuels Studies... Continue Reading →
ANP: scenario is optimistic for the 14th round of oil field bids
The National Oil, Natural Gas and Biofuels Agency (ANP) said on Tuesday (27) that the 14th Round of Bids for exploration and production of oil and natural gas has an optimistic scenario in the market. The agency held a public hearing on the subject, with the objective of discussing suggestions for drafting the final text... Continue Reading →
PRUMO SIGNS AGREEMENT WITH SIEMENS AND BP FOR SALE OF PARTICIPATION IN NATURAL GAS AÇU
June 27, 2017 Prumo announced two important deals with Siemens and BP for the sale of a stake in its wholly owned subsidiary Gás Natural Açu (GNA). In the case of the agreement signed with the German company, the agreement provides for exclusive negotiations and preliminary non-binding conditions for the acquisition of 33% of GNA's... Continue Reading →
Brazilian study urges Petrobras to cut Bolivian natural gas purchases
Petróleo Brasileiro SA should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study. The study by a Mines and Energy Ministry research arm, seen by Reuters on Tuesday, recommended that Brazil's... Continue Reading →
Petrobras to install four new platforms in the Campos Basin
Cristina Indio do Brasil - Agência Brasil reporter Petrobras intends to install four new platforms in the Campos Basin in the coming years. The first will be the FPSO Cidade de Campos de Goytacazes, destined to the production of oil in the fields of Tartaruga Verde and Tartaruga Mestiço. Two other units will operate in the... Continue Reading →
Brazil’s President Michel Temer charged with taking bribes
Brazil's top federal prosecutor charged President Michel Temer with taking multimillion-dollar bribes on Monday in a stinging blow to the unpopular leader and to political stability in Latin America's largest country. Rodrigo Janot submitted the charge in a document presented to the Supreme Court, saying "he fooled Brazilian citizens" and owed the nation millions in... Continue Reading →
Seabed Geosolutions scores $90M contract in Brazil
zoom Seabed Geosolutions has reportedly been awarded an ocean bottom seismic survey contract in Brazil. The company, a joint venture between CGG and Fugro, has secured a contract with Petrobras for work in the Santos Basin, offshore Brazil. The contract, worth $90 million, is expected to start in late 2017, or in early 2018. Stephan... Continue Reading →
Brazil’s Petrobras halts production after leak in Campos basin
Mon Jun 26, 2017 | 5:54pm EDT The logo of Petrobras, state-controlled Petroleo Brasileiro SA, is seen at their President Bernardes Refinery in Cubatao, Brazil June 8, 2017. REUTERS/Paulo Whitaker Brazil's Petróleo Brasileiro SA halted production at a platform in its Marlin field in the Campos Basin after a "small amount" of water and oil... Continue Reading →
Former Brazilian finance minister Palocci sentenced to 12 years in prison
A Brazilian court on Monday sentenced former finance minister Antonio Palocci to 12 years in prison for corruption and money laundering in the country's massive corruption probe known as "Operation Car Wash." The ruling by Judge Sergio Moro adds pressure on Palocci, who served as finance minister under President Luiz Inácio Lula da Silva and... Continue Reading →
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