Investigations into Brazil’s embattled construction giant Odebrecht SA are exposing a larger network of graft in Latin America than was already revealed in a massive anticorruption settlement, according to prosecutors in several countries. Since the firm admitted in December to paying nearly $800 million in bribes, authorities across Latin America have launched new investigations that... Continue Reading →
Petrobras – Clarifications regarding CVM Letter
Rio de de Janeiro, March 7, 2017 - Petróleo Brasileiro SA - Petrobras informs that it received today a Letter No. 33/2017/CVM/SEP/GEA-5, following a meeting of the Brazilian Securities and Exchange Commission (CVM) that took place today, in which CVM’s Collegiate decided to publish the Letter No. 30/2017/CVM/SEP/GEA-5 (“Letter No. 30”), dated March 3, 2017,... Continue Reading →
Brazil Sells $1 Billion Overseas Bond After Borrowing Costs Sink
Brazil tapped overseas debt markets for the first time since July after its borrowing costs tumbled, joining a record wave of emerging-market bond sales this year. The country sold $1 billion more of its global bonds due in 2026 to yield 5 percent, the Treasury said in a statement. The notes were first issued a... Continue Reading →
Brazil Plans Overseas Bond Sale as Borrowing Costs Tumble
Brazil is planning to tap overseas debt markets for the first time since Julyafter its borrowing costs tumbled, joining a record wave of emerging-market bond sales this year. The country is selling more of its global bonds due in 2026 to yield a bit above 5 percent, according to a person familiar with the... Continue Reading →
STATOIL FILES FOR IBAMA LICENSE FOR DRILLING IN CARCARÁ
March 06, 2017 Statoil has taken a new step in its main project in Brazil, the promising discovery of Carcará in Block BM-S-8. The Norwegian company asked the Brazilian Institute for the Environment and Renewable Resources (Ibama) for the Operational License for maritime drilling activities in the block, located in the Santos Basin. The... Continue Reading →
Brazil Bulls Who Called Currency Rally Predict More Gains Ahead
The only forecasters who correctly called the Brazil real appreciating past 3.1 per dollar this quarter are once again defying consensus, predicting more gains ahead for one of the world’s best performing currencies. What bearish analysts fail to realize, according to ING Groep NV and Prestige Economics, is that Brazil’s already-improving domestic economy is poised... Continue Reading →
Brazil Economy Contracts More Than Expected in Fourth Quarter
Brazil’s economy shrank for an eighth successive quarter in the final months of 2016, capping a disastrous year in which the nation faced its worst recession on record and impeached its president. Gross domestic product contracted 0.9 percent in the final three months of 2016, its biggest decline in a year, after a revised 0.7... Continue Reading →
IEA Sees Oil Investment Revival After a Two-Year Rout
Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International Energy Agency said. There are “signs of a modest recovery” in spending in 2017 following two years of big investment cuts, the Paris-based agency said Monday in... Continue Reading →
More Waivers for Libra
The Libra consortium (Petrobras, Total, Shell, CNOOC and CNPC) must request ANP for a waiver to charter drilling rigs at the Libra project, the country's first production sharing area, in the Santos Basin pre-salt. The measure is a reflection of the failure of the Sete Brasil project, which would provide drill rigs for Petrobras with... Continue Reading →
Technip wins two contracts for ultra-deep water fields and helps Petrobras push back subsea frontiers
Technip was awarded by Petrobras two ultra-deep water contracts for the supply of flexible pipes for the Sapinhoá Norte field and I5 at Lula field (former Tupi field), located in the Santos Basin pre-salt area (Brazil), at a water depth of up to 2,500 meters. The combination of both contracts covers the supply of... Continue Reading →
