By Brad Brooks | SAO PAULO A former Brazilian finance minister and chief of staff for successive Workers Party (PT) governments was ordered on Thursday to stand trial on corruption and money laundering charges in an expanding graft probe around state-run oil company Petrobras. Anti-corruption Judge Sergio Moro ruled that prosecutors had presented sufficient evidence... Continue Reading →
US appeals court hears arguments on scope of Petrobras class action
Attorneys for Brazil's state-controlled oil company, Petroleo Brasileiro SA, asked a U.S. federal appeals court on Wednesday to de-certify a class of investors trying to recoup billions of dollars in losses stemming from a sprawling corruption scandal. Petrobras, as the company is known, and its bank underwriters argued that it is not clear buyers and... Continue Reading →
Petrobras likely to get credit for oil-for-shares transfer: regulator
The revision of a massive exploration contract between Brazil's government and Petrobras will be based on the price of oil at the end of 2014, likely leaving the state-run oil company with a credit, the oil and gas regulator ANP said on Tuesday. The agreement giving Petroleo Brasileiro SA, as the company is officially known,... Continue Reading →
Petrobras: The Way Forward
Presentation by Nelson Silva at the 2016 Rio Oil & Gas petrobras-the-way-forward-nelson-silva
Petrobras presentation Rio Oil and Gas, Deep and Ultradeep Water Production in Brazil
Solange Guedes, Head of Exploration and Production, presentation at the 2016 Rio Oil & Gas. riooilgas-deep-and-ultradeep-water-production-brazil-solange-guedes-rio-oil-and-gas
Brazil’s Petrobras seeks to end Schahin contract
Brazil's state-run oil company Petrobras is seeking to stop renting a drillship from engineering conglomerate Grupo Schahin, in a potential blow to Schahin's restructuring plan, newspaper Folha de S. Paulo reported on Tuesday. Petroleo Brasileiro SA, as Petrobras is formally known, has already notified Schahin about the potential rescission, Folha said, citing unidentified sources. Vitoria... Continue Reading →
Baker Hughes Offers GE Chance to Unlock Tech in Dusty Oil Fields
It wasn’t the dusty old oilfield machinery that drew General Electric Co. to make its play for Baker Hughes Inc. It was the chance to digitize. As today’s oil patch is increasingly stocked with underwater robots, remote sensors and electronic underground pumps that help lift crude in sagging wells, the world’s biggest oil service companies... Continue Reading →
BP Profit Slides on Weaker Refining, Oil-Production Loss
BP Plc reported a 49 percent decline in third-quarter earnings after crude prices fell, refining margins shrank and its exploration and production division posted a loss. Shares fell. Profit adjusted for one-time items and inventory changes dropped to $933 million from $1.8 billion a year earlier, the London-based company said Tuesday in a statement. That... Continue Reading →
Shell Smashes Estimates as BG Acquisition Drives Up Output
Royal Dutch Shell Plc reported third-quarter profit that beat analyst estimates after its acquisition of BG Group Plc boosted oil production, helping to counter a slump in prices. The shares rose. Profit adjusted for one-time items and inventory changes advanced 17 percent from a year earlier to $2.79 billion, Shell said Tuesday. That exceeded the $1.79... Continue Reading →
Additional information regarding the interest sale in Nova Transportadora do Sudeste
Rio de Janeiro, October 31, 2016 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on September 23, 2016 regarding the sale of interest in Nova Transportadora do Sudeste (NTS) to Brookfield Infrastructure Partners and its associates, hereby provides the following additional clarifications. After the ongoing corporate restructuring, NTS’ remaining debt will... Continue Reading →
Brazil Energy Insight 