ANP Says Brazil Pre-Salt Production Increases Six Percent

ANP Says Brazil Pre-Salt Production Increases Six Percent

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The National Agency of Petroleum (ANP), reported yesterday, April 4th, that the production of oil and gas in the pre-salt fields recorded an increase of six percent in February, compared with the previous month. This was just days after the organization announced they are planning […]

Brazil’s Petrobras Registers Highest Net Loss in History

Brazil’s Petrobras Registers Highest Net Loss in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Oil giant of Brazil, Petrobras, announced on Monday its net loss for 2015 was R$34.8 billion, the largest in the company’s history. According to officials, the losses were due to the decline in oil prices around the world, the depreciation of the Brazilian currency and […]

Lava Jato Case in Brazil Retrieves Billions in First Two Years

Lava Jato Case in Brazil Retrieves Billions in First Two Years

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Two years after the start of the largest corruption investigations Brazil has ever witnessed, the Lava Jato (Carwash) has rendered 93 convictions and returned to the government more than R$2.9 billion worth of proceeds from bribes and money laundering. The Federal Public Ministry however requests […]

Lula Lawyers Appeal Police Search and Seizures in Brazil

Lula Lawyers Appeal Police Search and Seizures in Brazil

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Yesterday, March 8th, lawyers for the relatives of former President Luiz Inacio Lula da Silva (known as “Lula” in Brazil) appealed the court against the searches and seizures made by police last week, during the 24th stage of Operação Lava Jato (Carwash), a mega money […]

Brazil’s Senate Approves Reducing Petrobras Requirements

Brazil’s Senate Approves Reducing Petrobras Requirements

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – In addition to the on-going impeachment discussions in Congress and the Lava-Jato (Carwash) mega corruption scandal disrupting the economic and political scenario in Brasilia, this week President Rousseff’s PT party was also dealt a blow in the Senate, with the approval of a bill which […]

Brazil’s Government Defends Petrobras’ Pre-Salt Monopoly

Brazil’s Government Defends Petrobras’ Pre-Salt Monopoly

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Although media reports have hinted that President Rousseff’s government would be willing to review Petrobras’ exclusive role in exploring the country’s pre-salt oil reserves layers, Mines and Energy Minister, Eduardo Braga, emphasized on Tuesday that the government continues to defend the maintenance of the current […]

Brazilian Judge Halts Petrobras’ Gaspetro Sale to Japan’s Mitsui

Brazilian Judge Halts Petrobras’ Gaspetro Sale to Japan’s Mitsui

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A Brazilian federal judge has suspended the sale of 49 percent of Petrobras’ subsidiary, Gaspetro, to Japan’s Mitsui Brazilian subsidiary for R$1.93 billion (US$700 million). According to the law official, the operation closed at the end of December 2015 was not fully explained and transparent […]

Transparency International Cuts Brazil’s Ranking Due to Petrobras

Transparency International Cuts Brazil’s Ranking Due to Petrobras

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Transparency International’s Corruption Perception Index 2015 raised Brazil seven positions, going to number 76 out of 168 countries surveyed. The country is the biggest index loser in the Americas, according to the global watchdog, due mainly to the Petrobras corruption scandal. “Dealing with many entrenched […]

Dutch SBM Settles Bribery Case Out-of-Court in Brazil

Dutch SBM Settles Bribery Case Out-of-Court in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The CEO of the Brazilian operations of SBM Offshore as well as a board member working in the country have agreed to an out-of-court settlement with Brazil’s Ministerio Publico Federal (Public Prosecutor’s Office) after being accused by the government of bribing Petrobras directors to obtain […]

Brazil’s Petrobras Surpasses Production Target in 2015

Brazil’s Petrobras Surpasses Production Target in 2015

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian oil giant Petrobras surpassed its annual petroleum production target for the first time in thirteen years in 2015, producing a volume of 2.128 million barrels per day, according to the company. The annual average production in the pre-salt layer was the largest in history, […]

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