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In the Campos Basin’s Peregrino field, the oil company drilled a well 8,080 m long in total. The Norwegian firm intends to drill 10 wells in a new area of the field's reservoir [07.03.2016] By Gabriela Medeiros/Brazil Energy The production in the Peregrino field is carried out using two WHP's and the FPSO Peregrino Statoil... Continue Reading →
Mar 9, 2016 Reuters A U.S. appeals court has revived a lawsuit filed by the U.S. unit of Brazilian national oil company Petrobras claiming a faulty tether chain caused $400 million in damages when equipment it was meant to secure collapsed to the sea floor in the Gulf of Mexico in 2011. Petrobras America and... Continue Reading →
In a matter of days, the vast corruption probe known as Operation Carwash has moved closer than ever to Brazil’s president, Dilma Rousseff.On Feb. 22, Rousseff’s top campaign strategist, João Santana, was arrested for allegedly receiving $7.5 million, a sum tied to a bribery scheme at national oil company Petrobras, which is at the center of... Continue Reading →
The Latin American state-run oil companies whose largesse filled government coffers from Mexico to Brazil during the crude boom of the previous decade are quickly becoming dangerous liabilities as soaring debt levels spook investors. Regional leaders are being forced to shelve plans to spend petro-cash on popular projects after oil prices plunged more than 50 percent... Continue Reading →
Mar 10, 2016 Reuters SAO PAULO | BY BRAD HAYNES AND EDUARDO SIMÕES Former Brazilian President Luiz Inacio Lula da Silva waves to the crowd from his home in Sao Bernardo do Campo, Brazil, March 5, 2016. REUTERS/PAULO WHITAKER TPX IMAGES OF THE DAY State prosecutors in Brazil are seeking the arrest of former President... Continue Reading →
Anadarko Petroleum Corp. is shrinking its workforce in the latest step to cope with a collapse in oil and gas prices, following plans to park rigs, slash dividends and sell assets. The third-largest U.S. natural gas producer is laying off about 1,000 workers, roughly a 17 percent reduction, said company spokesman John Christiansen. The move... Continue Reading →
Senate leaders from Brazil’s biggest political party are pushing their colleagues in Congress to declare their independence from President Dilma Rousseff’s government, according to two people with direct knowledge of the discussions. The leaders of the Brazilian Democratic Movement Party, or PMDB, discussed the strategy at a dinner Wednesday night with their counterparts from the... Continue Reading →
The same turmoil that’s roiling Brazil’s government opened up a window for the country’s first bond sale since it was cut to junk. Brazil sold $1.5 billion of 10-year bonds to yield 6.125 percent, according to data compiled by Bloomberg. The sale comes as speculation that President Dilma Rousseff will be impeached drives down borrowing... Continue Reading →
Brazil’s real extended its best-in-the-world rally and stocks climbed as a news report that prosecutors requested a preventive arrest of Brazil’s former President Luiz Inacio Lula da Silva added to speculation that a change in government may be drawing closer. With Thursday’s gain, the real is up 11 percent since the start of March, the... Continue Reading →
As companies rein in drilling world-wide, government buoys firms developing ‘Vaca Muerta’ shale play Workers adjust a drill at one of YPF SA’s shale gas production sites, El Orejano, in the province of Neuquén, Argentina. Workers adjust a drill at one of YPF SA’s shale gas production sites, El Orejano, in the province of Neuquén,... Continue Reading →
Brazil Energy Insight 