A U.S. judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities. U.S. District Judge Raymond Dearie said at a hearing in Brooklyn federal court that about $93 million... Continue Reading →
PRODUCTION OF TUBARÃO MARTELO GROWS 10.4% IN MARCH
The month of March brought a better operating result for OGPar, which had an increase in its oil production in the period. In all, the company closed the interval with about 242,6 thousand barrels. The number represents a gain of 10.4% compared to the previous month. In February, the company's monthly output was 219.6 thousand... Continue Reading →
Brazil’s Odebrecht paid $3.3 billion in bribes over a decade: reports
Odebrecht SA [ODBES.UL], the Brazilian engineering company at the center of a historic corruption scandal, paid out a total of about $3.3 billion in bribes in the nine years through 2014, according to testimony cited by local media on Saturday. Through a department specifically established to pay politicians and other recipients for public works contracts,... Continue Reading →
Mitsui’s new FPSO hull concept gets approval in principle
Japan’s Mitsui Engineering & Shipbuilding (MES) has obtained a Bureau Veritas approval in principle (AIP) for the new generation noah-FPSO Hull and associated design and construction methods. Mitsui said on Thursday that the AIP by Bureau Veritas follows approval from the American Bureau of Shipping and that it provided assurance of the feasibility and reliability... Continue Reading →
Bradesco’s 4th Brazil Investment Forum – Petrobras Presentation
Presentation by Pedro Parente, CEO, Petrobras Turns Around petrobras turn arounf P Parente
Petrobras says eased Brazil content rules could boost revenue
Wed Apr 12, 2017 The logo of state-run oil company Petrobras is pictured in the company headquarters in Vitoria, Espirito Santo, Brazil, February 10, 2017. REUTERS/Paulo Whitaker Changes to water down strict local content rules on equipment to extract deep sea oil could help Brazil's government earn 31 billion reais ($9.9 billion) worth of royalties... Continue Reading →
Petrobras Production of oil and natural gas in March
Rio de Janeiro, April 13,2017 - Petróleo Brasileiro S.A. - Petrobras informs that its total production of oil and natural gas in March was 2.74 million barrels of oil equivalent per day (boed), of which, 2.61 million boed produced in Brazil and 130,000 boed produced abroad. Average oil production in the country was 2.12... Continue Reading →
CNPE approves bidding for four areas in the 3rd Round of the pre-salt in November
The National Council for Energy Policy (CNPE) approved the holding of the 3rd Round of pre-salt areas under the distribution regime in November of this year, with the bidding areas of the Pau-Brasil, Peroba, Alto de Cabo Frio-Oeste and Alto de Cabo Frio-Central. During the meeting, the CNPE approved a multi-year calendar for ten rounds... Continue Reading →
Brazil graft probe sparks hopes of change, fears of chaos
For some in Brazil, the decision by a Supreme Court judge to place many top politicians under investigation for suspected corruption, including leading contenders in next year's presidential race, clears the way for a new era in politics. The sweeping probe ordered by Justice Luiz Edson Fachin encompassed all the likely presidential candidates from Brazil's... Continue Reading →
Ex-Pemex CEO Denies Allegations of Involvement in Brazil Scandal
Former Petroleos Mexicanos Chief Executive Officer Emilio Lozoya denied participating in an alleged bribery scheme involving Brazilian construction company Odebrecht SA in Mexico, after Veja magazine reported the executive was mentioned in connection with an ongoing corruption probe. "I haven’t requested nor have I received illegal money," Lozoya said in an emailed response to questions... Continue Reading →
Brazil Energy Insight 