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BP Plc has reached a comprehensive $18.7 billion settlement with the U.S. government and five states, a landmark deal that effectively ends years of litigation over environmental damage and human casualties caused by the 2010 Gulf of Mexico spill. It could be the largest settlement with a single entity in U.S. history, the U.S. Justice Department... Continue Reading →
Petrobras - Studies for public offering of shares from Petrobras Distribuidora S.A. 07/01/2015 Rio de Janeiro, July 1st, 2015 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 157, § 4º of Act 6.404, of December 15th, 1976, as amended, and Normative Instruction no. 358 of January 3rd, 2002, from the Brazilian Securities Commission... Continue Reading →
Petrobras - Sale of Interest in Concessions of Bijupirá and Salema 07/01/2015 Rio de Janeiro, July 1st, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that has signed today, with PetroRio S.A. (‘PetroRio’), the celebration of the contracts regarding the sale of 20% of its interest in the concessions of Bijupirá and Salema fields, currently... Continue Reading →
Ex Petrobras executive serving five years in prison for his role in the corruption scandal has begun talks with prosecutors in a bid to shorten his sentence, according to two people familiar with the talks. Nestor Cerveró, a former director of international operations at Brazil´s state-run oil firm Petróleo Brasileiro SA, was convicted in May of money laundering.... Continue Reading →
Brazilian police have arrested Jorge Zelada, former head of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, a local newspaper reported on Thursday. Zelada is accused of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud, Folha de S. Paulo newspaper reported. He was... Continue Reading →
Petroleo Brasileiro SA, as Petrobras is formally known, agreed to sell its 20 percent interests in the Bijupirá and Salema oil and natural gas fields in Brazil's Campos Basin northeast of Rio de Janeiro to Petro Rio SA for $25 million, according to a statement. Petro Rio was formerly known as HRT Participações em Petroleo... Continue Reading →
Brazil’s state-controlled oil producer is considering listing the subsidiary, Petrobras Distribuidora SA, or BR, in a secondary public offering, the company said in a filing Wednesday. Other options include finding a strategic partner for the business, the company said. Read More
Shell takes final investment decision for the Appomattox deep-water development in Gulf of Mexico 01 Jul 2015 Royal Dutch Shell plc (Shell) today announces the final investment decision (FID) to advance the Appomattox deep-water development in the Gulf of Mexico. This decision authorises the construction and installation of Shell’s eighth and largest floating platform in... Continue Reading →
A Braskem SA shareholder has sued the Brazilian petrochemical producer, accusing it of being involved in a graft scandal that has engulfed key stakeholders Odebrecht and Petrobras and led to a selloff in Braskem's U.S.-traded stock. Plaintiff Douglas W. Peters is seeking class action status for the lawsuit, filed in a Manhattan federal court on... Continue Reading →
Shares of Petrobras extended a three-day plunge as crude sank 4.2 percent to $56.96 a barrel after data showing U.S. stockpiles rose for the first time in nine weeks and OPEC production increased. The state-run company has said that investments in oil and gas offshore production are economically viable with the commodity above $45. Read... Continue Reading →
Brazil Energy Insight 