The acquittal of Brazilian President Michel Temer last week on charges of illegal campaign funding in the 2014 election has emboldened the center-right leader to offer no more concessions to Congress that would weaken his austerity package, a senior member of the economic team and an aide told Reuters. Brazil's top electoral court dismissed a... Continue Reading →
Statoil aims to more than triple Brazil output
Norwegian oil and gas firm Statoil aims to more than triple its production in Brazil and will seek to become operator for the entire Carcara discovery, among the world's biggest in recent years, the firm's country manager said. Read more
Brazil’s Petrobras reports explosion on drill ship
Brazil's state-controlled oil company Petroleo Brasileiro SA on Friday reported an explosion on the NS 32 drill ship, which is operated by Odebrecht Óleo e Gás, a unit of Odebrecht SA, according to a statement. The explosion wounded four people, three of them with burns and one with mild injuries, according to the statement. There... Continue Reading →
GE names John Flannery as CEO, Immelt to step aside
General Electric Co on Monday named veteran insider John Flannery as its next chief executive, taking over from Jeff Immelt who is stepping aside after 16 years as the head of the conglomerate he helped steer through the financial crisis but is now worth a third less than when he took over. Under Immelt, GE... Continue Reading →
The second leg of the Road Show for the Bidding Round will be from June 12 to 16
The second leg of the road show to publicize the upcoming rounds of bids for oil and natural gas exploration and production will be held from 12 to 16/6 in Perth (Australia), Singapore and Beijing (China). The Secretary of Petroleum, Natural Gas and Renewable Fuels of the Ministry of Mines and Energy, Márcio Félix;... Continue Reading →
A Graft Machine’s Collapse Sows Chaos in the Caribbean
Hipolito Polanco was locked in a primary against President Danilo Medina in the Dominican Republic when he got a phone call from a number he didn’t recognize. It was January 2016, and Polanco, a 39-year-old lawyer, was the last candidate still standing to challenge the president for the Dominican Liberation Party nomination. The voice on... Continue Reading →
Pemex to speed up farm-out strategy while striving for larger oil output
Mexican state-owned oil company Pemex plans to accelerate the establishment of farm-out arrangements and associations in a push to increase crude oil output and bring reserves online. In words of the company, this mechanism will allow it to increase investments, enhance competitiveness and optimize how it spreads financial and technological risks. Read more
Brazil electoral court dismisses case that could have ousted president
Brazil's top electoral court dismissed a case on Friday that threatened to unseat President Michel Temer for alleged illegal campaign funding in the 2014 election, when he was the running mate of impeached President Dilma Rousseff. The ruling gives Temer some breathing room but will not end a political crisis enveloping the beleaguered center-right leader.... Continue Reading →
Brazil to renew Repetro oil sector customs regime: sources
Brazil is mulling the extension of a special customs regime for the oil industry in a move aimed at maintaining the country's appeal to major global energy firms, according to three sources with knowledge of the matter. The so-called Repetro regime, which applies to export and import of goods used in oil production and related... Continue Reading →
What to Expect From Brazil’s Top Electoral Court Ruling
Brazil’s top electoral court this week has resumed ruling on allegations the winners of the 2014 election benefited from illegal campaign financing, a decision that could potentially force President Michel Temer out of office. The case began when the losing party filed a lawsuit against then President Dilma Rousseff and Vice President Temer with the... Continue Reading →
