Rio de Janeiro, January 11, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that the Company’s average oil production in Brazil reached an annual historical record in 2016, at 2.144.256 barrels per day (bpd), 0.75% above the results for the prior year and in line with the 2,145 thousand bpd target forecast for the... Continue Reading →
Brazil poised to step up rate cuts to pull economy out of recession
Jan 11 Brazil's central bank will likely step up its pace of interest rate cuts on Wednesday as policymakers scramble to rescue the country's once-vibrant economy from the worst recession on record as it threatens to stretch into a third year. Fifty out of 54 analysts polled by Reuters expect the central bank to cut... Continue Reading →
Big Oil Hits Sweet Spot as Projects Reap Rewards of Recovery
Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts. Seven of the world’s largest energy companies will together boost oil and natural gas output by 398,000 barrels a day, the most since since 2010, according to data from Oslo-based consultant Rystad... Continue Reading →
Oil Industry Starts Revival as Project Approvals to Double
The oil industry will shake off the effects of the biggest downturn in a generation this year as they more than double project approvals and increase exploration spending for the first time in three years, according to Wood Mackenzie Ltd. Companies will green-light more than 20 oil and gas fields for development compared with nine... Continue Reading →
Oil Discoveries Seen Recovering After Crashing to 65-Year Low
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get better from here. Oil companies found only 3.7 billion barrels of so-called conventional crude in 2016, 14 percent less... Continue Reading →
Petrobras announces the pricing of Global Notes and increase of tender cap
Rio de Janeiro, January 9, 2017 – Petróleo Brasileiro S.A. – Petrobras announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). The Notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by Petrobras. Closing is... Continue Reading →
Petrobras announces offering of Global Notes and commencement of Cash Tender Offers
Rio de Janeiro, Brazil – January 9, 2017 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), plans to offer global notes in one or more series (the “Notes”), subject to market and other conditions. The Notes will be unsecured obligations of PGF and will... Continue Reading →
Dril-Quip buys offshore equipment provider OPT for $20M | Offshore Energy Today
Dril-Quip buys offshore equipment provider OPT for $20M Dril-Quip has acquired offshore equipment provider OilPatch Technologies (OPT) for approximately $20 million. Based in Houston, OPT provides offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems. Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, “We... Continue Reading →
Direct Investment Suffers Less With Crisis And Should Add Up To $ 70 Billion
Despite the sharp drop in investment and Gross Domestic Product (GDP) in the last two years, an indicator of the Brazilian economy remained surprisingly strong. Direct Investment in the Country totaled US $ 75 billion in 2015 and accumulated, in the 12 months ended November 2016, US $ 78.8 billion, according to data from... Continue Reading →
Bribery Case Haunts Odebrecht Despite Massive Settlement
The construction giant, which agreed to pay as much as $4.5 billion to settle international bribery charges, finds it is banned from bidding on public works projects in a growing number of countries. See attached article bribery-case-haunts-odebrecht-despite-massive-settlement
