Multinational Oil Giant Shell Pledges Investments in Brazil

Multinational Oil Giant Shell Pledges Investments in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Reiterating that there is a favorable investment climate in Brazil, the president of petroleum giant Royal Dutch Shell, Ben Van Beurden, told Brazil’s President Michel Temer of the company’s interest in maintaining and increasing investments in the country. “We have plans for a future together. […]

Former Chief of Staff Arrested in Bribery Scandal in Brazil

Former Chief of Staff Arrested in Bribery Scandal in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Former Finance Minister under Luiz Inacio Lula da Silva’s administration, and former president Dilma Rousseff’s Chief of Staff Antonio Palocci, was arrested today by federal police in connection with the Lava Jato (Car Wash) investigations. According to officials, there is evidence that Palocci acted as […]

Brazil’s Petrobras To Sell Gas Pipeline For US$5.19 Billion

Brazil’s Petrobras To Sell Gas Pipeline For US$5.19 Billion

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian oil giant Petrobras announced on Friday that its Board of Directors have approved the sale of ninety percent of Nova Transportadora do Sudeste (NTS) pipeline to a consortium led by Brookfield for US$5.19 billion. “This transaction is significant for the Petrobras Divestment Plan,” stated […]

Brazil’s Ex-Finance Minister Arrested in Lava Jato Probe

Brazil’s Ex-Finance Minister Arrested in Lava Jato Probe

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – On Thursday morning (September 22nd), the 34th phase of the Lava Jato (Car Wash) investigation was put into action, with 180 police officers handing out 33 search warrants and eight arrest warrants in five states, including one for former Finance Minister, Guido Mantega. “At this […]

Brazil’s Petrobras Announces Further Investment Cuts

Brazil’s Petrobras Announces Further Investment Cuts

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – State-owned petroleum giant Petrobras announced a reduction of its investment forecast over the next five years. According to the release issued on Tuesday (September 20th) morning, investment forecasts for the 2017-2021 period will total US$74.1 billion, twenty-five percent less than the previous plan (from 2015 […]

Brazil Announces Onshore and Pre-Salt Field Auctions

Brazil Announces Onshore and Pre-Salt Field Auctions

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Mines and Energy Minister of brazil, Fernando Bezerra Coelho, announced on Thursday that the federal government will be auctioning off old onshore petroleum fields in February of 2017 and a pre-salt auction by June of 2017. “We are working so that the first […]

Brazil’s Petrobras Increases Market Value by US$23.35 Billion

Brazil’s Petrobras Increases Market Value by US$23.35 Billion

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The oil giant Petrobras in Brazil has risen six positions and is now the fourth largest oil company in Latin America and the U.S. in terms of market value at US$49.29 billion, according to consultancy firm Economatica. The survey lists Exxon Mobil remaining as […]

Brazil’s Petrobras Sells Chilean Distribution Subsidiary

Brazil’s Petrobras Sells Chilean Distribution Subsidiary

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Moving forward with its divestment plan and Petrobras officials announced last week the sale of its Chilean subsidiary, PCD, to private equity firm Southern Cross Group for more than US$460 million. PCD is a fuel distribution company in Chile with 279 gas stations, eight distribution […]

Brazil’s Petrobras Allowed to Halt Oil Production in 16 Platforms

Brazil’s Petrobras Allowed to Halt Oil Production in 16 Platforms

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The ANP (National Petroleum, Natural Gas and Biofuel Agency) in Brazil has authorized oil giant, Petrobras to interrupt its oil production in sixteen platforms and fourteen concessions due to the decline of international oil prices, the devaluation of the Brazilian real and the loss of […]

Brazil’s Petrobras Registers Best June Production in History

Brazil’s Petrobras Registers Best June Production in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian oil giant, Petrobras, registered the best June on record for the production of oil and natural gas, totaling 2.9 million barrels per day, according to the state-controlled company. According to Petrobras, June’s results are over two percent greater than that registered during the […]

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