TechnipFMC (NYSE and Euronext: FTI) and DOF Subsea (DOF) announce that the Skandi Búzios, a pipelay support vessel (PLSV) owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petróleo Brasileiro S.A. (Petrobras), as scheduled on April 13th, 2017. Skandi Búzios is the sistership of the Skandi Açu, which... Continue Reading →
Petrobras opposes Brazil plan to boost biofuels after selloff
Brazil's state-controlled oil company Petróleo Brasileiro SA has expressed strong opposition to a government-led program to increase the use of biofuels following its recent decision to completely withdraw from the sector. In a document the energy ministry posted on its website, the company known as Petrobras said it was worried about the impact of more... Continue Reading →
China’s HNA nears deal to buy Odebrecht’s Brazil airport stake
HNA Airport Holding Group Co Ltd is close to buying out the stake that engineering conglomerate Odebrecht SA has in Brazil's second-busiest international airport, a person briefed on the matter said on Monday, partly solving an impasse with a government agency over licensing rights. The Chinese company, which is part of HNA Group Co Ltd,... Continue Reading →
Brazil waters down pension reform as protests turn violent
Brazil's President Michel Temer on Tuesday made new concessions to ease passage of an unpopular pension reform bill that has drawn angry demonstrations from labor organizations, including police unions that tried to invade Congress in protest. The watered-down proposal, which has faced pressure from skittish lawmakers, has raised doubts among investors about the full fiscal... Continue Reading →
Brazil’s former minister Palocci enters plea deal talks
Former Brazilian Finance Minister Antonio Palocci entered talks with federal police to strike a plea bargain deal, in a potential blow to former President Luiz Inácio Lula da Silva's chances of running in next year's election, newspaper Folha de S.Paulo said on Tuesday. Palocci, one of the closest advisers to Lula and former president Dilma... Continue Reading →
IMF Sees Brazil Growth Rebounding in 2018 on Easing Uncertainty
The International Monetary Fund nudged up its 2018 growth outlook for Brazil as fading political uncertainty, easing monetary policy and progress on the government’s economic reform agenda help foster a gradual recovery. Brazil will grow 1.7 percent next year, compared with a January forecast of 1.5 percent, the IMF said in its World Economic Outlook... Continue Reading →
Sale Process of BM-S-8 Exploration Block, CARCARA
Rio de Janeiro, April 17, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that became aware today of the decision by the 2nd Federal District Court (Sergipe state) that granted an injunction to suspend the transfer of Petrobras’ stake in the BM-S-8 exploration block ("Carcará Field") to Statoil Brasil Óleo e Gás Ltda. and the... Continue Reading →
Lender to Sete Brasil just wants to jump ship
Without having faith in the judicial recovery process of Sete Brasil - and who does? - Jurong shipyard will take tougher measures against the company. The Singapore Group is expected to demand possession of the Arpoador drill ship, which Jurong is building for Sete Brasil. It would use the equipment to cover part of... Continue Reading →
Brazil’s Markets Aren’t Fazed by Latest Corruption Scandal Headlines
Brazil’s newsstands and its markets have never seemed more disconnected. As the nation obsesses over new details emerging from a sweeping corruption probe that’s implicated top business executives and politicians -- with pundits predicting who is likely to end up in jail and which government figures will resign in disgrace -- Brazilian assets are extending... Continue Reading →
Brazil’s president says expects some ministers to step down
Brazilian President Michel Temer said on Monday he expects some of his ministers to resign after they were implicated in a massive corruption investigation, but said this would not stop his government from approving landmark economic reforms. Eight of Temer's ministers were mentioned by executives of engineering group Odebrecht SA in plea bargain testimonies made... Continue Reading →
Brazil Energy Insight 