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The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. In less than 18 months, Norway’s biggest oil company has scrapped four years worth of drilling by canceling or suspending rig contracts, according to Bloomberg calculations based on Statoil... Continue Reading →
Diamond Offshore Drilling Inc, one of the world's top-five offshore rig contractors, said contracts for two rigs with Brazil's Petrobras had ended ahead of schedule. The company said it had secured an 875-day extension on another rig working for the Brazilian oil and gas producer in exchange for the terminations. Diamond, which also reported a... Continue Reading →
Filipe Pacheco/Bloomberg November 1, 2015 — 3:19 PM BRST Money is part of 31 lawsuits seeking repayment of funds Proceeds to be initially held by Brazil's justice system Individual and companies involved in the investigations of Carwash, an alleged pay-to-play scheme, agreed to give back to Brazil’s government close to 2.4 billion reais ($622 million),... Continue Reading →
Brazil’s main oil union began a nationwide strike Sunday to halt asset sales by state-controlled Petroleo Brasileiro SA at a time the company is slashing investments to reduce the biggest debt load in the oil industry. The Oil Workers Federation, known as FUP, said the nationwide strike started on Nov. 1. Some of the FUP’s... Continue Reading →
French sugar group Tereos said on Friday Brazil's Petrobras had raised its stake in their sugar and ethanol joint venture Guarani to 45.9 percent through a capital injection of 268 million reais ($69.75 million). Tereos, which said this was the final step of a strategic partnership signed with Petrobras in 2010, remains the majority shareholder... Continue Reading →
http://www.ft.com/cms/s/0/9d7dec5e-7740-11e5-a95a-27d368e1ddf7.html#ixzz3q2nteW82 October 29, 2015 11:54 pm Petrobras scandal runs Rolls-Royce through ‘Car Wash’ Richard House ©EPA To the streets: prompted by the Lava Jato inquiry, anti-government protesters demonstrate in São Paulo The entanglement of Rolls-Royce in the complex web of corruption cases surrounding Petrobras, Brazil’s state-owned oil company, is a powerful reminder of the scale and reach... Continue Reading →
Petrobras - Naphtha supply agreement extension 10/29/2015 Rio de Janeiro, October 29, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its competent bodies will appreciate the proposed terms for the signature of new amendments to the naphtha supply agreements to Braskem, allowing supply to continue during negotiations for a long-term contract. Petrobras has... Continue Reading →
Petrobras - Clarification on News: Reduction in Expenses with Exploration and Production 10/30/2015 Rio de Janeiro, October 30, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 3251/2015-SAE which requested the following clarification: BM&FBOVESPA OFFICIAL LETTER 3251/2015-SAE “An article published on October 29, 2015 in the newspaper O Estado de São... Continue Reading →
Switzerland’s finance regulator is investigating local banks to gauge their exposure to a widening scandal surrounding Brazilian oil producer Petrobras Brasileiro SA. The regulator, known as Finma, said it is looking into whether banks and securities trading firms met their due diligence obligations in possible cases of money laundering, and whether any possible incidents were... Continue Reading →
Exxon Mobil Corp. posted higher-than-expected profit as soaring margins on processing oil into fuels blunted the impact of collapsing crude markets. Third-quarter net income fell to $4.24 billion, or $1.01 a share, from $8.07 billion, or $1.89, a year earlier, Irving, Texas-based Exxon said in a statement on Friday. Per-share profit was 13 cents higher... Continue Reading →
