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According to local press sources, Petrobras is mulling over selling its natural gas subsidiary, Gaspetro. This is part of the divestment plan. Petrobras has hired Itau BBA Bank to structure the sale. Mitsui Gas and Energy is quoted as being the most likely candidate for the take over. Mitsui is already a joint venture partner... Continue Reading →
Chief Executive Officer Aldemir Bendine is backing Energy Minister Eduardo Braga’s plan to give the state-controlled company the right to allow foreign drillers to lead pre-salt projects as Petrobras focuses on containing capital expenditures and reducing the industry’s biggest debt load, the people said, asking not to be named as the matter is private. Read... Continue Reading →
Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday. Read More
U.S. regulators have given the green light for Royal Dutch Shell's (RDSa.L) proposed $70 billion acquisition of British rival BG Group (BG.L), the first clearance for the biggest deal in the energy sector in over a decade. Read More
Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. Petrobras, which is struggling with a corruption scandal, falling oil prices, stagnant output, and the largest debt of any... Continue Reading →
Brazil’s relentless series of interest rates hikes is successfully lowering inflation expectations – despite recent signs to the contrary, from lottery to tomato prices. Read More
KNOT Offshore Partners LP Announces Completion of the Acquisition of Dan Sabia | Business Wire // KNOT Offshore Partners LP Announces Completion of the Acquisition of Dan Sabia June 15, 2015 04:15 PM Eastern Daylight Time ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the "Partnership") (NYSE: KNOP) announced today that it has completed its acquisition of... Continue Reading →
Statoil ASA, Norway’s state-controlled oil producer, will cut as many as 2,000 more jobs by the end of next year as it reacts to lower crude prices by slashing costs. Read More
Joseph Sigelman, the founder and former chief executive of a Colombian oil field-services provider called PetroTiger, pleaded guilty to conspiring to pay bribes to an official of the Colombian national oil company in violation of the Foreign Corrupt Practices Act (FCPA). Or that's what the Justice Department emphasized in a triumphant-sounding press announcement listing no... Continue Reading →
OSX Brasil, currently in Chapter 11, surprises and reports a first quarter, 2015, profit of R$ 168.9 million against a loss of R$ 2.42 billion for same period last year. Net operating revenue was R$ 275.1 million, a leap of approximately 133% in comparison to last year. Big surprise.
Brazil Energy Insight 