Brazil's Economy Ministry denied that the government would pay $14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area.The ministry told Reuters in a statement the figure…
The new chief executive of Brazil's Petroleo Brasileiro SA is pushing for the ouster of two of the state-controlled oil company's board members, three people with knowledge of the matter said on Friday.Roberto Castello Branco is seeking the resignation of two Petrobras board members…
Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone.Tapped by far-right President Jair Bolsonaro, who took power on Tuesday…
Brazil's state-controlled Petroleo Brasileiro SA will suspend any new divestment initiatives in oil exploration or production, the company said on Thursday, following a Supreme Court decision.The decision suspended an agreement between Petrobras…
Ouro Preto has cut its bid for two shallow water mature oilfield clusters from Brazil's state-run oil company Petroleo Brasileiro, flagging a drop in oil prices in recent months, three sources with knowledge of the matter said.Ouro Preto, a…
Petroleo Brasileiro SA's next CEO is already working within the Brazilian state-controlled oil firm and is talking with employees about business plans, four sources told Reuters.Roberto Castello Branco, named by president-elect Jair Bolsonaro's economic team to take the helm at Petrobras…
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…
Although much of the hype surrounding the Brazilian oil and gas market is directed toward the Santos Basin pre-salt, recent and older pre-salt discoveries in existing areas and on recently-awarded blocks within Campos Basin offer significant…
Sea-state monitoring firm Miros Group is set to supply eight Oil Spill Detection (OSD) systems to Brazilian oil major Petrobras in the world’s largest x-band radar-based OSD surveillance and response contract to date.The agreement is in partnership with Ulstein Belga Marine…
As Brazilian national operator Petrobras and major international oil companies (IOC) target decreasing exploration and production (E&P) costs, especially at deepwater pre-salt plays in Brazil, increased investment will be funneled to research…
Bermuda-based marine services company Teekay Offshore Partners announced that certain of its subsidiaries have entered into a settlement agreement with Petrobras with respect to various disputes relating to the previously-terminated charter…
Brazil's incoming far-right government on Monday tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets…
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…
Teekay Offshore Partners L.P. announced Monday that certain of its subsidiaries have entered into a settlement agreement with Petróleo Brasileiro S.A. and Petroleo Netherlands B.V. – PNBV S.A. with respect to various disputes relating to the…
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