12/15/2016 | 09h03 TN Petroleo Petrobras and partners celebrated, on Wednesday (14/12), a historical mark: the total of 1 billion barrels of oil produced in the pre-salt. This accumulated production occurs only six years after the entry of the first production system in the Santos Basin, in the Lula field, and ten years after... Continue Reading →
Brazil’s Braskem to pay 3.1 bln reais in leniency deal for corruption case
Dec 14 Brazil's Braskem SA , the largest petrochemical producer in Latin America, signed a leniency deal on Wednesday with Brazilian prosecutors leading a sweeping corruption probe into political kickbacks at state-run oil company Petrobras, the company said in a securities filing. The company agreed to pay 3.1 billion reais ($920 million) in fines... Continue Reading →
CNPE meeting to vote for unitizations and auctions of oil areas
The meeting of the National Council for Energy Policy (CNPE), the federal government's policy and energy guidelines body, will have in its agenda the unitization rules for oil fields and the three auctions of oil and gas areas planned for 2017, said the Minister of Mines and Energy, Fernando Coelho Filho. The CNPE will discuss... Continue Reading →
Brazilian pension reform bill clears first hurdle in Congress
A pension reform proposed by President Michel Temer that would add more than a decade to Brazilians' working lives will be debated in Congress after an overnight vote that laid bare divisions among lawmakers over the plan. Pension reform is the next move by Temer to bring a widening budget deficit under control after he... Continue Reading →
Total assumes 50% share of Petrobras in Xerelete Sul block
Total assumes 50% share of Petrobras in Xerelete Sul block The French oil company Total took over Petrobras' 50% stake in the Xerelete Sul block in the Campos Basin, still under development, and now holds 100% of the concession. The transfer has already been approved by the Administrative Council for Economic Defense (Cade). The operation... Continue Reading →
ANP ALTERS CALENDAR OF THE AUCTION OF MARGINAL BLOCKS
Dec 13, 2016 The National Oil Agency changed the schedule of the 4th Round of Bids for Marginal Areas. The publication of the edict and the model of the concession contract will be released on January 19. The auction will offer to the market ten areas for exploration and production of oil and gas:... Continue Reading →
Big Oil Gets a Huge Role in Trump’s Administration
Ever since the U.S. Supreme Court broke up John D. Rockefeller’s Standard Oil in 1911, the energy industry has been at loggerheads with the federal government. Now it is the government -- or may be if Exxon Mobil Corp. Chief Executive Officer Rex Tillerson is confirmed as President Donald Trump’s secretary of state. Rex Tillerson... Continue Reading →
Odebrecht tells prosecutors Brazil’s Temer sought donation: report
Odebrecht SA's former chief executive Marcelo Bahia Odebrecht has told prosecutors that Brazilian President Michel Temer asked for a 10 million-real ($3 million) political contribution from the company, Folha de S. Paulo reported on Wednesday. The newspaper report did not say whether the alleged donation, which it said was requested by Temer and his Chief... Continue Reading →
Brazil’s Temer, Trump agree to form bilateral growth agenda
Brazil's President Michel Temer called U.S. President-elect Donald Trump on Tuesday, agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade... Continue Reading →
THE BRAZIL MERCHANT MARINE FUND AUTHORIZES CONSTRUCTION OF VESSELS WITH BRAM OFFSHORE IN THE VALUE OF R $ 1 BILLION
The end of the year was accompanied by good news for the naval sector. The Merchant Marine Fund approved the priority order of R $ 1 billion for the construction of six PSV’s (Platform Support Vessels) with Bram Offshore. The MMF board also approved R $ 27.17 million for Navigation Alliance, which will build... Continue Reading →
