Rio de Janeiro, December 22, 2016 - Petróleo Brasileiro S.A. - Petrobras, in addition to the Material Fact disclosed on 12/16/2016, informs that today it received US$ 5 billion from the China Development Bank (CDB) regarding the facility agreement executed on 12/15/2016. The Company also informs that will not need new net borrowing within the... Continue Reading →
Odebrecht settlement spurs bribery inquiries across Latin America
Politicians and investigators across Latin America demanded more information from Brazil-based construction company Odebrecht on Thursday after it admitted to a decade of immense bribe payments in the region. In agreeing on Wednesday to pay at least $3.5 billion to Brazilian, U.S. and Swiss prosecutors, the largest penalty ever in a foreign bribery case, Odebrecht... Continue Reading →
Technip, FMC Technologies merger set to complete in January 2017
The merger between Technip and FMC Technologies is set to be completed in less than a month. The two oilfiled services companies said on Wednesday that the Chancery Division of the High Court of Justice of England and Wales approved the European cross-border merger between Technip and TechnipFMC and set the date of completion... Continue Reading →
Odebrecht to sell Peru pipeline to Brookfield: finance minister
Brazilian construction conglomerate Odebrecht SA ODBES.UL is in advanced talks on selling its majority stake in a $5 billion natural gas pipeline project in Peru to Canada's Brookfield Asset Management Inc (BAMa.TO), Peru's Finance Minister Alfredo Thorne said in a televised interview. The two companies and the government of Peruvian President Pedro Pablo Kuczynski struck... Continue Reading →
Petrobras and Total advance their strategic alliance with new agreements
Rio de Janeiro, December 21, 2016 - Petróleo Brasileiro S.A. - Petrobras informs that today it signed a Master Agreement with the French company Total, in connection with the Strategic Alliance established in the Memorandum of Understanding executed on 10/24/2016, as previously announced to the market. Entering into strategic partnerships is an important part of... Continue Reading →
Brazil ‘Carwash’ Probe Yields Largest-Ever Corruption Penalty
Odebrecht SA, Latin America’s biggest construction company, and an affiliate agreed to pay more than $3.5 billion to resolve bribery allegations involving Brazil’s state-run oil company, the largest corruption penalty ever levied by global authorities. Odebrecht pleaded guilty in Brooklyn, New York, on Wednesday to conspiring to pay bribes in violation of the Foreign Corrupt Practices... Continue Reading →
Odebrecht, Braskem plead guilty in U.S. after Brazil bribe probe
Brazilian construction firm Odebrecht SA [ODBES.UL] and affiliated petrochemical company Braskem SA pleaded guilty in a U.S. court on Wednesday to violating American foreign bribery laws as part of a more than $3 billion deal resolving a sweeping corruption probe of Brazil's state oil company. The companies entered their pleas in federal court in Brooklyn... Continue Reading →
Brazil’s Temer boxed in by recession, political crisis: analysts
Brazil's President Michel Temer is increasingly likely to depend on lower interest rates and an unpopular agenda of legislative reforms to revive a moribund economy, analysts said, as a deep recession risks entering a third year. Temer's best chances to spark growth lie in quickly pushing through Congress an unpopular pension reform unveiled this month.... Continue Reading →
Benthic ‘prodding’ at Petrobras’ Libra field (Brazil)
Brazil’s Petrobras has hired Benthic, a geosciences company, to carry out an offshore geotechnical investigation in the Libra field, offshore Brazil. Benthic’s PROD (Portable Remotely Operated Drill) will perform in-situ testing and sampling to a maximum penetration depth of 80 meters below the mudline, in water depths ranging from 400 to 2,300 meters. Following data collection, Benthic will... Continue Reading →
ANP EXTENDS FRADE FIELD CONCESSION UNTIL 2041
Chevron, which is in prolonged silence in Brazil, got good news from the ANP: the extension of the concession contract for the Frade field in the Campos Basin until 2041, while the previous agreement went only until 2025. The US company operates the area, with a 52% stake, and had a major setback in... Continue Reading →
