Oct 14, 2016 The Arpoador shipyard delivered another SDSV type vessel, used to support activities for the shallow diving operations, to service company Oceanica , http://oceanicabr.com/en/ .The Oceanic Sub V is chartered by Petrobras for a period of three years. The vessel hosts 37 technicians in 13 cabins, including divers, operators and crew. The... Continue Reading →
Brazil Analysts Forecast Steeper Interest Rate Cuts in 2016
Brazil economists reduced their forecast for the 2016 year-end benchmark interest rate just days before the central bank meets to decide on monetary policy. The country’s Selic rate will fall to 13.5 percent by the end of this year from the current level of 14.25 percent, according to the central bank survey of about 100... Continue Reading →
Petrobras says September output in Brazil hits 2.75 mln bpd
Mon Oct 17, 2016 | Reuters Oct 17 State-run oil company Petrobras' production of oil and natural gas in Brazil reached 2.75 million barrels of oil equivalent per day in September, the company said in a securities filing on Monday. Petroleo Brasileiro SA, as the company is formally known, said it produced a further 0.13... Continue Reading →
Petrobras – Negotiations for the sale of Liquigás
Rio de Janeiro, October 14, 2016 – Petróleo Brasileiro S.A. – Petrobras informs, in relation to the sale of its wholly owned subsidiary Liquigás Distribuidora S.A. (Liquigás), announced through a press release on June 15th, that it is in advanced negotiations with Ultrapar Participações S.A. The transaction depends on the conclusion of the negotiations and... Continue Reading →
Update – Brazil’s Petrobras cuts fuel prices, pledges agile pricing
Brazil's state-run oil company Petrobras said on Friday it was cutting fuel prices as part of a new policy tracking international benchmarks more closely after politically driven pricing cost the company billions in recent years. Petroleo Brasileiro SA, as the company is formally known, will cut prices for diesel by 2.7 percent and gasoline by... Continue Reading →
Brazil’s Petrobras cuts fuel prices under new pricing policy
Fri Oct 14, 2016 |Reuters Brazil's state-run oil company Petrobras said on Friday that its board agreed to cut prices for diesel by 2.7 percent and gasoline by 3.2 percent under a new policy which will track international prices more closely, the company said in a filing on Friday. Petroleo Brasileiro SA, as the company... Continue Reading →
Former Brazil senator sentenced to 19 years in Petrobras probe
A former Brazilian senator was sentenced on Thursday to 19 years in prison for corruption, money laundering and obstruction of justice in the investigation of kickbacks at state-run oil company Petrobras. Gim Argello was arrested in April on evidence he took 7.35 million reais ($2.28 million) in bribes to ensure executives at major infrastructure companies... Continue Reading →
Brazil Real Gains as Oil Rebound Overshadows Chinese Slump Data
Brazil’s real advanced as a rebound in oil prices overshadowed disappointing Chinese data and increased bets on a Federal Reserve interest-rate hike that bolstered the dollar. The real gained 0.2 percent to 3.1904 per dollar at 3:24 p.m. in Sao Paulo after declining as much as 0.7 percent earlier. The Bloomberg Commodity Index gained 0.7... Continue Reading →
Brazil’s BNDES halts overseas disbursements amid graft probe
By Rodrigo Viga Gaier | Reuters Oct 11 State development bank BNDES has temporarily frozen loan disbursements worth $4.7 billion for several major engineering firms ensnared in Brazil's biggest corruption investigation. The suspension was enacted in May but only made public on Tuesday by Ricardo Ramos, director of the bank's exports division. The move blocks... Continue Reading →
Petrobras and Galp expand partnership in order to strengthen exploratory, development and production activities
10/11/2016 Rio de Janeiro, October 11, 2016 – Petróleo Brasileiro S.A. - Petrobras signed, today, a Memorandum of Understanding (MoU) with Galp Energia, SGPS, S.A. (Galp), aiming to extend the cooperation between the two companies, reinforcing their strategic alliance. Following this MoU, Petrobras and Galp intend to further enhance their partnership, considering potential joint ventures... Continue Reading →
Brazil Energy Insight 