By Stephen Eisenhammer, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - Having replaced two executives at the end of April, there are rumors of more to come, as Petrobras´ CEO, Maria das Gracas Foster, begins to oversee changes at the top of Brazil’s state-run energy giant after taking control in February. Refining chief, Paulo Roberto Costa, [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The dollar ended with a fall of 0.67 percent on Thursday, after closing high five sessions in a row. However, it still closed relatively high against the Brazilian Real, at R$1.91. The main Stock Exchange index in São Paulo, Brazil’s economic powerhouse – the Bovespa [...]
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL - Sevan Drilling, the Norwegian drilling contractor, celebrated the arrival of a new platform Monday which will increase the company’s presence in Brazil’s offshore industry. At an event held aboard the yacht Pink Fleet, Sevan Drilling visited the new rig currently docked in Guanabara Bay, by the [...]
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – Argentina is seeking greater partnership with Brazilian state-run energy company, Petrobras, to develop the country’s energy resources after announcing the nationalization of YPF, its main oil producer, last week. The move, which saw Argentine president, Cristina Fernandez de Kirchner, strip a 51 percent YPF stake [...]
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – A Brazilian judge has moved the two R$20 billion civil cases against American oil company, Chevron, and rig operator Transocean, for offshore oil leaks in Brazil, to a different court in Rio de Janeiro, removing the case from the hands of Brazilian prosecutor, Eduardo Santos [...]
Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – A few generations ago, the rallying cry for granting Petrobrás a monopoly in Brazilian oil production was “O Petróleo é Nosso!” Last week the U.S. and Brazil signed Letters of Intent designed to do much the same for the sale and marketing of each country’s typical [...]
By Stephan Eisenhammer and Esmee Verbeek, Contributing Reporters RIO DE JANEIRO, BRAZIL – The ANP (National Agency of Petroleum) said that on April 8th a leak of “oil droplets” was released from the Roncador Field in the Campos Basin, off the northern coast of Rio de Janeiro. The leak is the seventh attributed to Petrobras [...]
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – Consumption of gasoline in Brazil continues to reach record heights as the country’s development powers forward, new data has shown. The first three months of 2012 registered new peaks for energy usage, as industrial and residential demands show a steady rise, so does gas importation. Gasoline [...]
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – The third Rio Gas Forum, organized by CWC and part of their Global Gas Series, will be held in Rio de Janeiro March 20th to March 22nd. The conference will be held at the Copacabana Palace and hosted by Rio based Petrobrás, Brazil’s majority-state-owned energy [...]
By Laura Madden, Contributing Reporter RIO DE JANEIRO, BRAZIL – Non-financial businesses in Brazil recorded a combined financial loss of R$15.3 billion last year. That’s R$11 billion more than the previous year’s R$4 billion. In the second half of last year, the appreciation of the dollar against the real — from R$1.562 to R$1.869 (up [...]
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