In April, the company reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until July 31, 2017, reflecting significant progress on the terms of such restructuring made with the bank group, Seadrill said in its first quarter 2017 report on Wednesday. The company also said it is now in... Continue Reading →
Thousands protest against Temer, reforms in Brasilia
Several thousand anti-government protesters clashed violently with police in the Brazilian capital on Wednesday, smashed windows of several ministry buildings and set tires on fire near Congress, sending black billowing smoke into the air. The march was called by leftist parties, unions and other groups demanding the resignation of scandal-hit President Michel Temer and that... Continue Reading →
Brazil’s Petrobras sees higher oil exports as presalt fields develop
Wed May 24, 2017 A man walks past the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil April 13, 2017. REUTERS/Ricardo Moraes Brazilian government-controlled Petroleo Brasileiro SA expects higher oil exports this year than initial projections, Guilherme França, executive manager of trade and marketing, said Wednesday. Petrobras expects oil exports to reach... Continue Reading →
Petrobras Announces Redemption of Three Series of Notes
Rio de Janeiro, Brazil – May 23, 2017 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices of redemption to the holders of the outstanding 2.750% Global Notes due 2018 (“2.750% Notes”), 5.875% Global Notes due 2018 (“5.875% Notes”) and 4.875% Global... Continue Reading →
Odebrecht sees approval of airport stake sale within 90 days: paper
Engineering conglomerate Odebrecht SA [ODBES.UL] expects aviation regulator Anac to approve the sale of its stake in Brazil's second busiest international airport to HNA Airport Holding Group Co Ltd [HNAIDD.UL] within 90 days, newspaper Valor Econômico reported on Wednesday. Cabinet minister Wellington Moreira Franco said last month the Chinese company, part of HNA Group Co... Continue Reading →
Greenpeace says Total underestimated drilling risks near Amazon reef
French oil and gas company Total and other energy majors should abandon plans to drill close to the mouth of Brazil's Amazon because of potential risks to the ecosystem of the area, environmental campaigner Greenpeace said on Wednesday. Greenpeace said an analysis of Total's environmental assessment of its planned drilling, underestimated the risks of drilling... Continue Reading →
Sale of Juruá Field in Solimões Basin: Disclosure of the Teaser
Río de Janeiro, May 22, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has started the disclosure phase of the Teaser regarding the transfer of Petrobras’ stake in the Juruá Field, in the Solimões Basin. In this project, Petrobras offers 100% of the stake in the Juruá Field (Concession Juruá), located in Amazonas... Continue Reading →
CBO Group retakes partnership with Sotreq and acquires propulsion package for offshore support vessels
05/22/2017 Press Release / Rodrigo Feria Even in a period of low sales and slowed growth, some companies in the maritime market continue with plans to expand the fleet. An example of this is the Brazilian offshore company CBO Group, which resumed its partnership with Sotreq, a 75-year-old company in the market and one... Continue Reading →
Oil and energy companies worry about progress on sector agenda
23/05/2017 The uncertainties brought by the political crisis have left the oil and gas and electric power industries apprehensive about the resumption of investments in the country and the agendas that were in progress. Among the oil companies, the perception is that the auctioning schedule announced by the current Ministry of Mines and Energy (MME)... Continue Reading →
Five Ways Brazil’s President Could Be Forced Out/WSJ
The mandate of Michel Temer is hanging by a thread after he was linked to a giant corruption scandal A woman demonstrates against Brazil's president Michel Temer during a protest in Union Square in New York. PHOTO: CARLO ALLEGRI/REUTERS By Paul Kiernan Updated May 23, 2017 8:40 a.m. ET The mandate of Brazilian President Michel... Continue Reading →
Brazil Energy Insight 