FPSO Market dries up in Brazil

Most of the oil riches in Brazil have come to production via the FPSO.  For the first time in many years there will be ZERO FPSO’s ordered for use in Brazil.  As seen in the attached chart, it will take several years for activity to increase.  This will […]

Clarification on News: Taxation of Petrobras

Clarification on News: Taxation of Petrobras 06/24/2015 Rio de Janeiro, June 24th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter n.º 197/2015/CVM/SEP/GEA-1, which requests clarifications as follows: OFFICIAL LETTER n.º 197/2015/CVM/SEP/GEA-1 “We referred to the News released on this date in the newspaper “O Globo”, […]

Chevron’s Cash Flow Gains

The 15 percent jump in the price of crude this quarter represents a $2.8 billion windfall. That’s because every time the average quarterly price of Brent — the benchmark for most international oil sales — increases by a dollar, Chevron scoops up an extra $325 million to $350 […]

Detieriorating Political Scene in Brazil

The political scene in Brazil is getting worse by the minute. First are Lula’s public complaints about Dilma, the Workers Party and the present administration. Secondly, the rebellion of party and coalition members, the open war with the president of the house and the various defeats of the […]