Petrobras Results in Focus as Ibovespa Futures Join Global Gain By Julia Leite/Bloomberg 9:48 AM BRT May 15, 2015 Ibovespa futures joined gains in global shares as investors awaited Petroleo Brasileiro SA’s first-quarter earnings. Petrobras, embroiled in a corruption scandal that stumped executives and accountants for months as they struggled to tally costs related to... Continue Reading →
Petrobras / New record in the “pre-salt” production
Petrobras / New record in the “pre-salt” production Rio de Janeiro, May 12th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that oil production at fields operated by the Company in the province of the “pre-salt” in Santos and Campos basins reached 800 thousand barrels of oil per day (bdp) on April 11th, 2015, setting... Continue Reading →
Brazil prosecutors say Petrobras scheme moved $2.1 billion in bribes
Thu May 14, 2015 5:06pm EDT Brazil prosecutors say Petrobras scheme moved $2.1 billion in bribes SAO PAULO/Reuters The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Brazilian investigators believe 6.19 billion reais ($2.1 billion) in bribes were moved in a corruption scheme involving state-run... Continue Reading →
Rousseff Takes Political Hit on Brazil Spending With Long Fuse
Rousseff Takes Political Hit on Brazil Spending With Long Fuse By Raymond Colitt Arnaldo Galvao/Bloomberg 7:30 PM BRT May 14, 2015 Brazil’s Supreme Court on Friday gave the green light to investigate the heads of both houses of Congress while ruling out a probe into President Dilma Rousseff in the country’s largest corruption scandal. Photographer:... Continue Reading →
Brazil Charges First Lawmakers in Petrobras Graft Probe
Brazil Charges First Lawmakers in Petrobras Graft Probe The former members of congress are accused of money laundering, embezzlement and other crimes Adir Assad (second left), Sonia Mariza Branco (third left, bottom), Lucelio Goes (top center) and former Petrobras executive Renato Duque (second right) are escorted by federal police as they leave the Institute of... Continue Reading →
For Big Oil, the Party’s Over in Alberta
For Big Oil, the Party’s Over in Alberta An election win by liberals strikes fear into the heart of Canada’s oil industry By Jeremy Van Loon/Bloomberg 6:23 PM BRT May 14, 2015 There’s a reason they call Alberta the Texas of the North. The province is home to Canada’s oil industry and produces more than... Continue Reading →
Toshiba Executive Called to Brazil Congress Probe of Petrobras
Toshiba Executive Called to Brazil Congress Probe of Petrobras By Anna Edgerton Juan Pablo Spinetto/Bloomberg 5:56 PM BRT May 14, 2015 A Toshiba Corp. official was among several company executives called to testify to a congressional committee investigating Brazil’s largest corruption scandal. Luis Carlos Borba, president of Toshiba America do Sul Ltda. will be asked to explain... Continue Reading →
In Oil, Aberdeen Struggles With Price, Output
In Oil, Aberdeen Struggles With Price, Output Cost of production from North Sea is rising and jobs are disappearing Sean Murphy, an Aberdeen oil-rig supervisor, has been looking for work for months. PHOTO: JO HANLEY FOR THE WALL STREET JOURNAL By GEORGI KANTCHEV/WSJ May 14, 2015 1:43 p.m. ET ABERDEEN, Scotland—When he was laid off in December, Sean... Continue Reading →
Pemex Scraps Third Paragon Offshore Rig Contract as Woes Mount
Pemex Scraps Third Paragon Offshore Rig Contract as Woes Mount by Adam Williams Andrea Navarro/Bloomberg 4:40 PM BRT May 14, 2015 Petroleos Mexicanos abandoned a third rig contract with Paragon Offshore Plc this week as the state-owned oil producer reduces spending after prices collapsed. Paragon received notice this week that Pemex will return the L781... Continue Reading →
Brazil president says to maintain oil rules, national content
Thu May 14, 2015 2:06pm EDT Brazil president says to maintain oil rules, national content RIO DE JANEIRO/Reuters May 14 Brazilian President Dilma Rousseff said on Thursday that her government will maintain rules that mandate production-sharing contracts for the country's most promising areas and high national content requirements for the oil industry. "The local... Continue Reading →
Brazil Energy Insight 