Pemex discovered four new fields in shallow water in the Gulf of Mexico with the potential for daily production of at least 200,000 barrels of oil and 170 million cubic feet of gas. Read More
Pemex announces large discovery in shallow waters
Chevron’s “Big Foot” stumbles at the get go
An equipment failure that’s delayed Chevron Corp.’s $5.1 billion Big Foot deepwater project will reduce the company’s production target by less than 25,000 barrels a day in 2017, the company said. Read More
Petrobras alleges its a victim on the U.S. investor lawsuits…right!!!
Petroleo Brasileiro SA faces a mounting number of U.S. investor lawsuits that seek compensation for market losses tied to a multibillion-dollar bribery scheme. Cases against the energy giant multiplied in recent weeks to more than a dozen, as investors from Ohio to Denmark seek damages for a kickback scandal that helped knock $60 billion off... Continue Reading →
Brazil’s Federal Development Bank – BNDES, has been subsidizing loans to companies involved in the Petrobras scandal
Luciano Coutinho, president of the Brazil National Development Bank (BNDES), Photographer: Pete Marovich/Bloomberg The bank’s financial ties to Brazil’s big companies, many of which are often top campaign donors, is pitting President Dilma Rousseff against the nation’s highest court. Brazil’s Supreme Court is calling for more transparency even as Rousseff vetoed a proposal to end... Continue Reading →
BP’s 2015 Statistical Review of World Energy
BP Plc released its 2015 Statistical Review of World Energy on June 10. Used for decades as an industry benchmark, this year's edition laid bare the seismic shifts taking place in global energy markets. See the attached files. bp-statistical-review-of-world-energy-2015-full-report bp-statistical-review-of-world-energy-2015-workbook bp-statistical-review-of-world-energy-2015-spencer-dale-presentation
Brazilian Prosecutors say Petrobras not a Perpetrator in the Corruption Scandal.
Brazilian prosecutor Carlos Lima. Photographer: Evaristo Sa/AFP via Getty Images Two Brazilian prosecutors probing a scandal at Petroleo Brazileiro SA that rocked the nation’s political establishment say it would be hard to consider the company a perpetrator in the multibillion-dollar kickback scheme. Carlos Lima and Deltan Dallagnol lead a group of nine federal prosecutors in... Continue Reading →
Brazil Infrastructure Plan Unveiled
President Rousseff unveiled large infrastructure plan to stimulate lagging economy. Read More
Brazil Turns to Infrastructure Investments to Stimulate Economy and Attract Foreign Investors
The favorable exchange rate and less government intervention might , just might, attract the private investors, both local and foreign. Read More
Colombian oil company in trouble from shareholders
Colombian oil company in trouble from shareholders Pacific Rubiales Energy Corp.’s share price shows its takeover has the most risk of failing among major oil deals. A member of the bidding group signaled that’s because it doesn’t plan to waive a condition that could block the bid. The Colombian driller’s largest shareholder, an investor group... Continue Reading →
Aftermath of the Petrobras Century Bond issue…
Brazil's Petrobras bet big and won this week after printing a US$2.5bn Century bond - the largest-ever trade with this tenor and the oil company's first bond sale since a corruption scandal locked it out of the capital markets last year. Few thought the company, still reeling from a high-profile investigation into kick-backs, was prepared... Continue Reading →
Brazil Energy Insight 