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Mad Dog, BP Plc’s drilling project deep in the Gulf of Mexico, could be Exhibit A in the oil industry’s war on cost. When the British oil giant announced the project’s second phase in 2011, it put the price at $20 billion. Last month, after simplifying plans and benefiting from a sharp drop in everything... Continue Reading →
Rio de Janeiro, August 17, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that the Abreu e Lima Refinery (RNEST) beat its processed feedstock record in July 2016, reaching 99.18 thousand barrels per day (bpd), 2.3% more than the previous record achieved in June (96.96 thousand bpd). In total, 3.07 million barrels were processed,... Continue Reading →
Canada's Brookfield Asset Management has signed a preliminary contract to buy Brazilian engineering conglomerate Grupo Odebrecht's 70 percent stake in water and sewage group Odebrecht Ambiental, an industry source told Reuters on Wednesday. The source said the deal was done at an equity value of 5.3 billion real ($1.65 billion), which implies an earnings before... Continue Reading →
A Brazilian Federal Supreme Court justice has authorized the opening of an investigation into President Dilma Rousseff and her predecessor Luiz Inácio Lula da Silva for allegedly working to obstruct the course of a sweeping corruption probe, GloboNews news channel said on Tuesday. According to GloboNews, Justice Teori Zavascki's ruling has given Prosecutor General Rodrigo... Continue Reading →
Aug 15 Workers at BR Distribuidora, the fuel unit of Brazil's state-owned oil company began a planned five-day strike on Monday to protest the planned sale of control of the distributor, the president of a union representing striking workers said. Employees of BR, formally known as Petrobras Distribuidora SA, are attempting to block fuel distribution... Continue Reading →
Ecopetrol SA, Colombia’s state-controlled oil producer, reported profit that missed analysts’s estimates as slumping crude prices overshadowed efforts to lower costs. Net income fell to 787 billion Colombian pesos ($269 million) in the second quarter from 1.51 trillion pesos in the same period last year, the Bogota-based producer said Tuesday in a statement distributed by... Continue Reading →
Acting President Michel Temer’s prized fiscal austerity proposal to cap public spending will only succeed if he can convince Brazil’s Congress to pass a controversial pension reform as well, according to a leading member of his economic team. While Temer’s administration is confident it can win congressional approval this year of a constitutional amendment to limit federal spending,... Continue Reading →
August 16, 2016 01:00 AM Eastern Daylight Time Regulatory News: “This new state-of-the-art PLSV, with the most advanced pipelay equipment and highest flexible pipelay tension capacity in the world, demonstrates again our extensive ultra-deepwater pipelaying experience, and our commitment to enable projects offshore for our clients.” Tweet this Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and DOF... Continue Reading →
Petrobras announcement presentation 2Q 2016 Webimar and Excel Presentaion Petrobras presentation 2Q2016 PBR RMF 2Q-2016-Excel presentaion
Aug 15 There is not much the Brazilian government can do to halt an appreciation in its real currency that is set to continue, given high liquidity abroad and less political uncertainty at home, a senior member of the economic team told Reuters. The government will rely on reducing its traditional currency swaps position to... Continue Reading →
