Valor Econômico 2 Jan, 2017. Renato Rostás and Rodrigo Polito RICH PRESS / BLOOMBERG Debate about local content rules divides industry and oil operators On the one hand, oil companies want changes; on the other hand, companies ask for more time. Equipment manufacturers claim to have invested $ 60 billion since the discovery of the... Continue Reading →
Some of the Tests Ahead for Brazil’s President: QuickTake Q&A
President Michel Temer of Brazil is in choppy waters, four months after the impeachment of his predecessor, Dilma Rousseff. His majority in Congress has shown signs of crumbling, his bill to cap spending passed the Senate by a much-narrower-than-expected margin, and some leaders in his own coalition are publicly voicing discontent. On and off protests over... Continue Reading →
Brazil could simplify oil tax rules as part of broad reform- source
Thu Dec 29, 2016 Brazil's government is considering simplifying the tax regime of the oil and gas industry as well as changes to levies on the financial system as part of a broad tax reform in 2017, a government source familiar with the matter told Reuters on Thursday. "These are the general ideas of what... Continue Reading →
Petrobras misses two-year sale target. Blames court for blocking Karoon deal
Offshore Energy Today zoom Brazil’s state-owned oil company Petrobras has fallen $1.5 billion short of its two-year asset divestment target. The company blamed the court order blocking the sale of two fields to Australia’s Karoon for missing the target. Petrobras said on Thursday that its divestments program has chalked up a total of $13.6 billion in the... Continue Reading →
Speculation
Petrobras president Pedro Parente has told reporters that assuming Eliseu Padilha's place as the president’s Chief of Staff is not in his plans. The idea has been aired in Brasilia by people for whom the post should be occupied by someone with an executive profile, not a political one. Forget me. Parente replies that the... Continue Reading →
Queiroz Galvao buys Premier’s Foz do Amazonas interest
Queiroz Galvao buys Premier's Foz do Amazonas interest. Brazilian independent gains full ownership of Block FZA-M-90 in the northern equatorial margin
PETROBRAS TO FALL SHORT OF DIVESTMENT TARGET
Brazilian giant blames court injunction blocking the completion of Karoon deal Reuters Updated 29 Dec 2016 03:18 GMT Brazil's state-run oil company Pretrobras will still fall $1.5 billion short of its divestment target for the 2015-2016 period despite announcing the sale of ethanol and petrochemicals assets for $587 million. Even after a flurry of... Continue Reading →
A Brazilian bribery machine / Odebrecht
A Brazilian bribery machine Record fine for illegal payments by Odebrecht raises hopes of end to the country’s culture of impunity The Big Read by: Joe Leahy/FT It revamped the Maracanã stadium, Brazil’s home of football in Rio de Janeiro, for the 2014 World Cup, developed one of the largest hydroelectric dams in Africa and built... Continue Reading →
Closing of Nansei Sekiyu sale
Rio de Janeiro, December 29, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that it closed yesterday (December 28), the sale of 100% of the shares in Nansei Sekiyu (“NSS”) to Taiyo Oil Company (“Taiyo”). The operation was completed through the payment of US$ 165 million made yesterday by Taiyo, after compliance with all previous... Continue Reading →
Signing approval of the agreement for the sale of PetroquímicaSuape and Citepe
Rio de Janeiro, December 28, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that, in a meeting held today, its Board of Directors approved the signing of the agreement for the sale of Companhia Petroquímica de Pernambuco (“PetroquímicaSuape”) and Companhia Integrada Têxtil de Pernambuco (“Citepe”) to Grupo Petrotemex S.A. de C.V. and Dak Americas Exterior,... Continue Reading →
