Tuesday, July 19, 2016 RIO DE JANEIRO (Reuters) - Odebrecht Oil and Gas obtained an injunction granted by the Court of Rio de Janeiro that the releases to participate in tenders for the provision of construction and assembly services for interventions in two Petrobras platforms, both in operation in the Campos Basin. The company was... Continue Reading →
Sale of Petrobras Distribuidora
Rio de Janeiro, July 18, 2016 – Petróleo Brasileiro S.A. - Petrobras informs that, regarding the search for a strategic partner for its subsidiary Petrobras Distribuidora (BR), it is evaluating the proposals it has received, and so far Petrobras’ Executive Board and Board of Directors have not taken any decision about an alteration to the... Continue Reading →
Petrobras – Clarification Regarding News Articles: Petrobras’ Lawsuit Against Astra Oil
07/18/2016 Rio de Janeiro, July 18, 2016 – Petróleo Brasileiro S.A. (Petrobras) hereby responds to Official Letter 346/2016-CVM/SEP/GEA-1, requesting clarification, as follows: Official Letter 346/2016-CVM/SEP/GEA-1 “Dear Sir, We are writing in regard to the news stories published in two newspapers – ‘Petrobras quer que sócia nos EUA a indenize por refinery’ [‘Petrobras wants partner in... Continue Reading →
Petrobras to decide on stake sale in fuel unit this month
Petróleo Brasileiro SA will decide the structure of a stake sale in fuel distribution unit BR Distribuidora SA before the end of the month, a sign that Brazil's state-controlled oil producer is trying to speed up $14.4 billion in targeted asset sales to cut debt. In a Monday securities filing, Petrobras (PETR4.SA) said that it... Continue Reading →
Peru diversifies crude imports with purchases from Brazil, U.S.
Peru has started expanding the sources of its crude imports, slowly introducing U.S. and Brazilian grades to a slate mostly based on oil from Ecuador, Africa and Trinidad and Tobago, according to Thomson Reuters Trade Flows data. The numbers show Peru has joined the growing list of Latin American countries increasing purchases of U.S. light... Continue Reading →
Leniency Agreement signed between Brazilian Authorities, Petrobras and SBM Offshore
Rio de Janeiro, July 15, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that today, together with the Ministry of Transparency, Oversight and Control (Ministério da Transparência, Fiscalização e Controle – “MTFC”), the Public Prosecutor’s Office (Ministério Público Federal – “MPF”), the General Counsel for the Republic (Advocacia Geral da União – “AGU”) and SBM... Continue Reading →
Corruption probe implicates Brazil’s development bank -report
Money from a public investment fund financed by payroll deductions was irregularly used to capitalize Brazil's BNDES development bank, according to leaked plea deal testimony from a wide-reaching corruption probe published in O Globo. According to the report published on Saturday, FI-FGTS, the investment arm of Brazil's public severance fund, allegedly transferred 17 billion reais... Continue Reading →
In Brazil, Another Shipyard Goes Bust as Work Returns to Asia
If there’s one industry where all of Brazil’s political and economic upheavals come together, it’s shipbuilding. A Rio de Janeiro shipyard, where suspended president Dilma Rousseff once promised to employ an army of welders, electricians and engineers to make offshore oil platforms, is all but shut. Every other day, 50 workers on average hand in... Continue Reading →
SBM Jumps Most in Nine Months Following Brazilian Leniency Deal
SBM Offshore NV, a Dutch oil-services provider, rose the most in nine months in Amsterdam trading after reaching a leniency deal with Brazilian authorities following a corruption investigation. SBM climbed as much as 15 percent Monday, the biggest intraday gain since Sept. 28 and the most among companies on the Stoxx Europe 600 Oil &... Continue Reading →
Brazil Has Its Own Iron Lady, and She Won’t Be Giving You a Loan
The new leader of Brazil’s development bank is bolstering confidence in the government’s efforts to revive the economy by pledging to shrink the lender’s size. BNDES, as the bank is known, is curtailing subsidized credit for Brazil’s biggest companies to focus on financing private-public partnerships and smaller businesses that would otherwise have trouble getting loans.... Continue Reading →
Brazil Energy Insight 