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Never mind the chaos. Brazil’s real may end the year where it began. The headwinds for the currency are obvious - it posted the fattest return among global currencies last year, and then reform-minded President Michel Temer landed in a political scandal last month that could result in his ouster. Read more
Younger lawmakers keeping beleaguered Brazilian President Michel Temer's brittle coalition from disintegrating are engaged in bitter internal debates with their own party elders, calling for them to abandon the scandal-plagued leader. With Temer's future on the line because of an ongoing corruption investigation and an electoral fraud trial that begins later Tuesday, the Brazilian Social... Continue Reading →
Guyana is set to grant a production license to ExxonMobil for production of oil to move ahead in 2020. This follows reviews of the technical and environmental aspects of the giant Liza oil discovery in the Stabroek Block offshore Guyana. Exxon submitted the development plan for the Liza project in December 2016. The Liza project is estimated... Continue Reading →
JUNE 5, 2017 Petrobras has received two new operating licenses from the Brazilian Institute of Environment and Natural Resources (Ibama). The documents were issued to regulate the environmental licensing of oil and natural gas production systems in the Albacora field, in the Campos Basin. The licenses were granted for platforms P-25 and P-31, as well as... Continue Reading →
Petrobras CEO Presentation to Investors June 5, 2017 - please see attached Petrobras CEO Presentation to Investors
Mon Jun 5, 2017 - State-controlled oil company Petróleo Brasileiro SA will not slow down asset sales or debt-cutting efforts if it meets debt targets earlier than expected, Chief Executive Pedro Parente said on Monday. Petrobras plans to cut net debt to 2.5 times operating profits by 2018, down from 3.24 times in the first quarter.... Continue Reading →
Brazil's top electoral court opens a trial on Tuesday over the alleged use of illicit money to fund President Michel Temer's 2014 election campaign in a case that could force him from office. The court has no deadline to reach a decision and could take weeks to rule, though the political turmoil Brazil is living... Continue Reading →
Rio de Janeiro, June 05, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that, after promoting, in the last months, a series of measures to improve its corporate governance, requested B3 (former BMF&BOVESPA), last Friday, June 02, for its certification in the scope of the Corporate Governance Program for State-Owned Companies (“Program”). For the intended... Continue Reading →
After filing to conclude its judicial recovery process, OGX, jewel of the crown of the former Empire X of Eike Batista, faces important challenges to overcome in the coming months. With difficulties to honor its investment commitments and living with risks of having its only source of revenue generation interrupted as early as next year, the... Continue Reading →
Jun. 2 , 2017 Petrobras kicked off the drilling of two wells, one offshore and another onshore. The first is located in the Campos Basin in the Marlim Sul field. The drilling is being done by the Norbe IX rig, which belongs to Odebrecht. The well, which bears the technical name of 6BRSA1349RJS, is in... Continue Reading →
