Singapore-based offshore rig builder Sembcorp Marine has said that its former consultant in Brazil has been sentenced to 19 years and four months in prison.SembMarine said Friday that Guilherme Esteves de Jesus (“GDJ”), had been convicted by…
Offshore rig builder Sembcorp Marine has said that its Brazil subsidiary Estaleiro Jurong Aracruz's former director has been charged for corruption and money laundering. A former Sembcorp Marine consultant has also been charged.SembcorpMarine…
Switzerland has pressed charges against a person in a corruption probe of Brazilian state oil company Petrobras and construction firm Odebrecht, the attorney general's office said, adding it was seeking to conclude the case quickly.Prosecutors in Bern on Tuesday said they suspect the person…
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras)…
Singapore state investor Temasek Holdings is offering to buy control of conglomerate Keppel Corp in a S$4.1 billion ($3 billion) deal that could hasten a consolidation in the rig building sector which is battling the effects of low oil prices…
Brazil’s offshore oil and gas sector: it’s complicated, challenging and rife with opportunity.Brazil today is seeing offshore activity increase, production is on the rise, and its government has made significant strides to remove obstacles for investment…
Brazil's Petrobras has signed a two-year contract to lease a drilling rig from Ocyan, formerly known as Odebrecht Oleo e Gas, an executive told Reuters, in the first deal between the firms since a corruption scandal erupted five years ago.Petroleo Brasileiro SA…
Singaporean rig builder Sembcorp Marine said on Wednesday that authorities had searched its shipyard in Brazil as part of a graft investigation, sending its shares lower and underlining the staying power of Brazil's ongoing 'Car Wash' corruption probe…
Brazilian state-controlled oil company Petróleo Brasileiro SA said on Friday it had made a $700 million payment to oil services provider Vantage Drilling Company in a case involving a contract that it had terminated.Petrobras, as the oil company is known…
Brazilian state-run oil firm Petroleo Brasileiro SA will record a 1.3 billion-real ($326 million) provision in its first-quarter results due to an ongoing dispute with a bankrupt rig lessor, it said on Thursday.In a securities filing, Petrobras…
As the world's top oil companies diversify and expand their presence in the petrochemicals and renewables segments, Petrobras is craving to be a less verticalized company.As partner to the Brazilian government in one of the industry's most coveted…
Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates.In a securities filing…
Sete Brasil was created in 2010 to manage the construction of 28 drilling units in Brazilian shipyards to fulfill Petrobras contracts to drill its pre-salt plays, at a time when Petrobras unrealistically planned to be the sole pre-salt operator…
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.The alleged graft was the latest finding of the country's sweeping 'Car Wash' investigation…
Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.Petrobras intends to make $84…
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