Brazil's top electoral court on Friday was poised to toss out a case alleging that President Michel Temer used illegal campaign funding in 2014, giving the beleaguered leader some breathing room even as he faces a separate corruption investigation. One justice on Brazil's seven-member Supreme Electoral Court (TSE) voted to annul the election victory of... Continue Reading →
ANP gains dynamism to offer oil and gas exploration areas, says director
Thursday, June 8, 2017 RIO DE JANEIRO, Brazil (Reuters) - Brazil will become more agile and dynamic in offering areas for oil and gas exploration and production, based on a new policy approved Thursday by the government, fostering mainly the activity of small and medium-sized companies, Décio Oddone, director general of the National Agency for... Continue Reading →
Petrobras approves execution of Term Sheet with the company Andrade Gutierrez to remove provisional ban
Rio de Janeiro, June 08, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board approved today the execution of a Term Sheet with Andrade Gutierrez, providing for a set of integrity obligations for this company, to enable the removal of the provisional ban imposed by Petrobras since December 29, 2014, as disclosed... Continue Reading →
Brazil electoral case against Temer loses ground
The majority of judges on Brazil's top electoral court argued on Thursday to exclude testimony by construction executives on illegal campaign funding, suggesting they could throw out a case that has threatened to force President Michel Temer from office. Exclusion of the plea bargain testimonies from Odebrecht SA executives by the Supreme Electoral Tribunal would... Continue Reading →
Odebrecht Oil and Gas drilling units
June 7, 2017 With the experience of being the first Brazilian private company to provide Offshore Drilling services in Brazil, and operating a semisubmersible unit anchored in water depths of more than 1,000 meters in Brazil, Odebrecht Oil and Gas informs that it continues to innovate by chartering and operate platforms with the latest technology,... Continue Reading →
Petrobras – Favorable legal decisions
Rio de Janeiro, June 8, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the material fact disclosed on March 9, 2017, reports that yesterday, the Full Bench of the Federal Regional Court for the 5th Region, in ruling on an appeal filed by the plaintiff, upheld the suspension of the injunction order to interrupt... Continue Reading →
Petrobras – Early termination of natural gas supply contract to UTE Cuiabá
Rio de Janeiro, June 8, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that it notified the company Âmbar, which belongs to the J&F economic group, of the early termination of the natural gas supply contract to the thermal power plant UTE Mário Covas (UTE Cuiabá), due to the breach of the contractual clause addressing... Continue Reading →
Petrobras sets new gas pricing policy for domestic households
State-controlled oil company Petróleo Brasileiro SA introduced on Wednesday a new natural gas pricing policy that sets lower prices for smaller quantities sold in local markets. In a securities filing, Petrobras said final prices for liquefied natural gas stored in cylinders of less than 13 kilograms and sold to Brazilian households will correspond to the... Continue Reading →
PETROBRÁS CONCLUDES ADJACENT WELL IN LIBRA
June 06, 2017 Petrobras has taken an important step in its exploration in the pre-salt layer. Petrobras completed an adjacent pioneer well in Libra, in the pre-salt of the Santos Basin. Located at a water depth of 2,252 meters. The well 4BRSA1346RJS has not yet had evidence of hydrocarbons, according to data from the National... Continue Reading →
Brazil’s labor reform bill advances in Senate
Brazilian President Michel Temer's proposal to modernize the labor market was approved by the Senate's economic affairs committee on Tuesday, clearing an important hurdle despite a political crisis that has jeopardized the government's reforms agenda. The committee passed the bill 14-11. The proposal still needs the approval of two other Senate committees before it reaches... Continue Reading →
