Brazilian state-controlled oil company Petróleo Brasileiro SA is looking to sell its refinery in Pasadena, Texas, for less than $200 million, Bloomberg News reported on Tuesday, citing two sources, far less than its purchase price. Petrobras, as the company is known, paid $1.2 billion in two installments in 2006 and 2012. Read more
Petrobras – Clarification on News: Sale model for BR Distribuidora
Rio de Janeiro, May 9, 2017 – Petróleo Brasileiro S.A. – Petrobras, in connection to the news published in the media, clarifies that there has been no decision on the sale model of BR Distribuidora by either its Executive Board or Board of Directors. The company further clarifies that it is currently analyzing whether to... Continue Reading →
Petrobras – Court ruling on the sale of equity interest in BR Distribuidora
Rio de Janeiro, May 8, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact disclosed on 12/5/2016, reports that it was informed today of the decision by the federal court of Sergipe state to dismiss, without prejudice, the popular interest suit aiming to suspend the sale process of equity interest in its... Continue Reading →
Odebrecht Oil & Gas is close to settlement agreement
While the Odebrecht Group is trying to avoid a way out of the liquidity crisis it faces, especially in its main construction arm, the oil and gas subsidiary works on an out-of-court settlement to settle the accounts with bondholders. The agreement is expected to be signed in two weeks. Negotiations with these creditors has been... Continue Reading →
Brazil annual inflation in April likely hit lowest in nearly 10 years
Brazil's annual inflation rate in April likely eased to its lowest level in nearly 10 years, which could help prod the central bank to make another steep interest rate cut this month, a Reuters poll showed on Monday. The IPCA benchmark consumer price index was seen rising 4.10 percent in the 12 months through the... Continue Reading →
Venezuela Braces for Double Whammy If U.S. Imposes Oil Sanctions
Venezuela would be hit from two directions if the U.S. were ever to impose oil-related sanctions against the South American nation where at least 30 have diedin anti-government protests in the past month. American drivers may pay more at the pump as well. Speculation about possible new U.S. sanctions has increased because of President Nicolas... Continue Reading →
Brazil mulls longer, flexible port licenses to draw investment
Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector. Building on the success of recent airport and power line auctions , President Michel Temer's government is hoping to add... Continue Reading →
EDISON CHOUEST SIGNS SERVICE CONTRACT WITH SHELL BRASIL
May, 7, 2017 Two affiliates of Edison Chouest Offshore signed a five-year contract with Shell Brazil for construction, inspection, maintenance and underwater repair services. The agreement includes a varied list of projects servicing a construction and subsea installation vessel of Bram Offshore, a subsidiary of Edison Chouest. The contract also provides inspection services for C-Innovation,... Continue Reading →
Prysmian invoices R $ 1.3 billion in Brazil and has an 80% increase in profit
05/05/2017 Prysmian in Brazil, a leading global company in cables and systems for the energy and telecommunications sectors, earned R $ 1.3 billion in the country in 2016 and obtained a net profit, before extraordinary effects, of R $ 61.7 million in year. Although sales volume fell by around 15% from one fiscal year to... Continue Reading →
Odebrecht Testimony in Brazil Points to Pemex Bribe in Mexico/WSJ
A former top official of Brazilian construction giant Odebrecht SA testified that he was asked in 2014 to bribe the then-head of Mexican state oil firm Petróleos Mexicanos, according to a document filed with Brazil’s Supreme Court as part of a broader corruption investigation. In the document, a copy of which was reviewed by The Wall Street... Continue Reading →
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