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, […]

Brazil’s Petrobras Reduces Investment Forecast by 25%

Brazil’s Petrobras Reduces Investment Forecast by 25%

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The persistent decline of international oil prices, the appreciation of the US dollar and the deteriorating Brazilian economy led Petrobras, the country’s giant, to announce it was reducing by 25 percent, or US$32 billion, its investments until 2019. The total amount now the company expects […]

Brazil’s Petrobras Divestment Program to Increase in 2016

Brazil’s Petrobras Divestment Program to Increase in 2016

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – In four years time Petrobras will have a smaller structure but be much more profitable than today, assured the oil giant’s CEO, Aldemir Bendine on Tuesday, adding that the divestment program adopted by the company this year will be increased next year. “I can guarantee […]

Senator and Banker in Brazil Arrested for Obstruction

Senator and Banker in Brazil Arrested for Obstruction

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian Senator, Delcidio Amaral and BGT Pactual Bank’s CEO, Andre Esteves were arrested on Wednesday, accused of obstructing investigations surrounding the Petrobras corruption scandal. This is the first time since Brazil’s return to democracy that a sitting senator has been arrested. The arrests warrants were […]

Brazil’s Petrobras Registers R$3.76 Billion Loss in Q3

Brazil’s Petrobras Registers R$3.76 Billion Loss in Q3

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s oil giant, Petrobras, registered a loss of R$3.759 billion during the third quarter of 2015. According to company officials the losses stem from the effects of the significant depreciation of the Brazilian real during the period and the reduction of oil exports. “The results […]

Only Ten Workers Remain at Petrobras Plant During Strike

Only Ten Workers Remain at Petrobras Plant During Strike

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – While Petrobras officials and union leaders negotiate a deal to end a two-week national strike, approximately ten oil workers remain on call at a São Paulo refinery, working overtime to keep machines in operation. According to news reports from Globo, approximately thirty workers, from the […]

Oil Workers Strike in Brazil for Wages, Investments, Assets

Oil Workers Strike in Brazil for Wages, Investments, Assets

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Twelve oil work unions which are part of the Oil Workers Federation (FUP) in Brazil began on November 1st, a strike at Petrobras refineries all over the country. According to union officials, strikers are protesting against Petrobras’ asset sales, investment cuts, project suspensions, and reduction […]

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