Rio de Janeiro, December 21, 2016 – Petróleo Brasileiro S.A. – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, in a meeting held yesterday, approved hiring KPMG Auditores Independentes (KPMG) to provide independent audit services for the fiscal years from 2017 to 2019, which may be renewed for two more years. After... Continue Reading →
Brazil court upholds injunction on Petrobras oilfields sale
A Brazilian federal court has rejected an appeal by Petroleo Brasileiro SA to allow the state-controlled oil company to proceed with the sale of two oilfields to Karoon Gas Australia. The court's decision to uphold a Nov. 19 injunction on the sale of the Baúna and Tartaruga Verde fields was made public on Monday and... Continue Reading →
Odebrecht, Braskem to pay $417.5 million in fines to U.S., Swiss governments
The Brazilian construction firm Odebrecht SA [ODBES.UL] and petrochemical company Braskem SA (BRKM5.SA) will pay 1.4 billion reais ($417.5 million) to the U.S. and Swiss governments as part of a settlement in a sweeping corruption case, a source close to the negotiations told Reuters Tuesday The deals, first reported by the Folha de S.Paulo newspaper,... Continue Reading →
Exxon Plans to Greenlight Giant Guyana Oil Discovery in 2017
Exxon Mobil Corp. plans to formally approve investing in the 1.4-billion barrel Liza oil discovery off the coast of Guyana by the end of 2017. Exxon hired SBM Offshore NV to design a floating production and storage vessel that will handle crude pumped from the field 120 miles (193 kilometers) off Guyana’s coast, the Irving,... Continue Reading →
Brazil’s central bank to add excess reserves to toolkit
The Brazilian central bank will add excess reserves to its toolkit to control liquidity and increase the efficiency of monetary policy, central bank chief Ilan Goldfajn said on Tuesday. In a briefing, Goldfajn announced measures to reduce credit costs for companies and consumers in the medium- to long-term as part of the government's push to... Continue Reading →
Production start-up in the Lapa field, in the pre-salt layer of Santos Basin
Rio de Janeiro, December 20, 2016 – Petróleo Brasileiro S.A. – Petrobras and its partners in the BM-S-9 consortium started the oil and natural gas production yesterday in the Lapa field, in the Santos Basin pre-salt layer, through the FPSO Cidade de Caraguatatuba. This is the third unit to enter operation in the pre-salt this... Continue Reading →
Government will auction adjacent areas to the pre-salt in the 14th Round
12/20/2016 The federal government will include in the next auction, ten exploratory areas with potential for pre-salt, six in Rio de Janeiro and four in Espírito Santo. If successful, they will be under the concession regime. "They are not in the pre-salt polygon, but they are adjacent areas, but who guarantees that the pre-salt... Continue Reading →
Former Brazilian leader Lula to face fifth corruption trial
Former Brazilian leader Luiz Inacio Lula da Silva will face a fifth corruption trial, a judge ruled on Monday, as charges pile up against the man seen as a front-runner to win the 2018 presidential election. Judge Sergio Moro, who has overseen the bulk of Brazil's biggest graft probe into a long-standing kickback scheme at... Continue Reading →
BP Piles Up Oil Assets as CEO Dudley Says Worst Over for Company
BP Plc is piling up assets with more than $3 billion of deals in three days as Chief Executive Officer Bob Dudley sees the company emerging from the doldrums after a two-year price slump. Since Saturday, BP has announced a $2.2 billion expansion of output in Abu Dhabi and a $916 million investment in fields in Mauritania... Continue Reading →
Havyard to design two more AHTS vessels for Grupo CBO
Havyard Design & Solutions, a ship technology company, has signed a contract for the delivery of ship design and equipment for two more AHTS vessels with the Brazilian shipping company Grupo CBO. Havyard said on Monday that the supply agreement for the delivery of ship design and equipment for two additional vessels is valued at... Continue Reading →
