Shell’s deepwater push continues with latest Brazil production
Shell has begun oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil's Campos Basin.
Brazil
Brazil’s former president detained in police anti-graft bust
Brazil's former president Luiz Inacio Lula da Silva was detained by federal police detained for questioning in an investigation of a bribery and money laundering scheme that they said had financed campaigns and expenses of the ruling Workers Party.
Petrobras to pay $1.9billion in back taxes
Petrobras has been told it must pay $1.9billion in back taxes and fines related to deductions on its 2007 and 2008 filings.
BHP progressing on Brazilian settlement
BHP Billiton said progress has been made in its negotiations with Brazilian authorities on a settlement for the Samarco tailings mine dam burst.
Petrobras stock “worthless” say analysts
Petrobras’s stock is worthless and a growing group of investors believe Brazil’s state-controlled oil company will convert debt into equity in a move that will benefit bondholders over shareholders, BTG Pactual said in a research report.
Shell expects oil and gas output in Brazil to quadruple by 2020
Oil major Shell expects oil and gas output in Brazil’s offshore industry to quadruple by 2020.
Subsea Expo 2016: Huge opportunities in Brazil remain despite Zika, corruption scandal
Brazil will remain an attractive location for the UK’s subsea sector despite the Zika virus outbreak and the Petrobras corruption scandal, an independent consultant from the South American country said yesterday. Daniella Carneiro was speaking on the sidelines of Subsea Expo in Aberdeen, where a new initiative was launched to improve links between UK and Brazilian subsea firms. Ms Carneiro, a London-based director of Chartham Consulting, said UK Trade and Investment and the Brazilian Science and Technology Ministry had produced a catalogue which lays out information about subsea firms from both countries.
International SOS forms crisis team to support workers in Zika zones
A travel security firm has formed a new crisis management team to support oil and gas employees working in areas affected by the Zika virus. International SOS (ISOS) said the “sinister and damaging” disease has spread rapidly across South and Central America since appearing in Brazil in May 2015. Brazil, which has a large oil and gas industry, was the 20th most visited country among ISOS’s client base between October 2014 and September 2015, with 139,000 individual trips made.
Goodtech wins Teekay FPSO contract
Goodtech has won a contract with Teekay Offshore for the FPSO Petrojarl I bound for the Atlanta field, offshore Brazil.
Petrobras cuts managers to save $440 million a year in oil rout
Brazil’s state-controlled oil company is reducing management positions and streamlining operations to save $440 million a year as it navigates the worst oil market in a generation and a sprawling corruption investigation.
SBM chief executive settles with Brazilian prosecutors
SBM Offshore’s chief executive has avoided an admission of guilt after settling with Brazilian prosecutors over “personal favouritism” charges.
Wood Group snaps up work in Brazil
Wood Group landed a contract with PetroRio for its Polvo A platform in the southern Campos basin.
Ensco rig contract ended over allegations of corruption
Ensco said it has ended a contract with Petrobras for a drillship over allegations of corruption. The rig contractor said the Brazilian company had chartered the DS-5 in 2008, when it was owned by Pride International.
NOV terminates contracts with Estaleiro Atlantic Sul in Brazil
NOV (National Oilwell Varco) said it has terminated its contract with Estaleiro Atlantic Sul in Brazil to deliver seven deepwater drilling equipment packages.
DOF Subsea wins new contract with Petrobras
DOF Subsea has won two new contracts set to commence this month.
As one corruption scandal unfolds, another is just getting started in Brazil
In the shadow of Brazil’s once-mighty oil giant, another state-run behemoth is trying to get ahead of the nation’s biggest-ever corruption scandal to avoid the fallout that has already crippled more than a dozen companies. A team of lawyers and specialists hired by Centrais Eletricas Brasileiras SA, known as Eletrobras, started reviewing Latin America’s biggest electric utility in June to determine whether it has had any losses from graft, according to a regulatory filing. Since then, the internal probe has swelled to involve more than 100 investigators, $15 billion of investments, 10 subsidiaries and three of Brazil’s biggest power projects, said a person with direct knowledge of the matter.
SBM Offshore backs chief executive as Brazilian probe continues
SBM Offshore has said there is no impediments to its current chief executive continuing in his role after a number of charges were made against the company by Brazilian prosecutors. Last week it was announced 12 people had been charged in connection with an alleged bribery scheme involving SBM Offshore and Petrobras.
Brazilian prosecutors charge 12 people over alleged bribery scheme
Brazilian prosecutors said 12 people have been charged in connection with an alleged bribery scheme involving SBM Offshore and Petrobras. Police said they had executed four arrest warrants as part of an investigation known as "Operation Black Blood". It is understood two of the suspects are already in jail.
Swire lands environmental certification
Swire Oilfield Services has been awarded a Procel Edifica certificate for its environmentally friendly base in Brazil.
Thousands in Brazil rally to demand president’s impeachment
Thousands of Brazilians have marched to demand that Congress impeach President Dilma Rousseff, whose government is plagued by an overwhelming corruption scandal and a dismal economy.
Petrobas loses 2 million barrels of oil due to industrial action
Brazil's state-run oil company Petrobas it had been unable to produce 2.29 million barrels of oil and 48.4 million cubic meters of natural gas during a strike that began on November 1
Petrobras finds more oil in deepwater discovery
Petrobas has made a deep water oil discovery in a new well extension in the Pitu area offshore Brazil.
Support for strike by Petrobras workers in Brazil is growing, unions claim
Support for a strike at Petrobras is growing according to Brazilian union leaders as workers show their opposition to privatisation of the state-owned oil company. A strike began last Sunday and has become the biggest stoppage in 20 years at Petrobras as workers back union efforts to rationalise the company and cut foreign participation in the oil industry. The focus of industrial action has recently changed to focus on nationalist and anti-capitalist demands rather than wages.
Diamond rig contracts with Petrobras cancelled
Diamond Offshore Drilling said two contracts for a pair of rigs with Petrobras have been ended ahead of schedule.
Brazil will drive global growth in FPSO industry to 2019 despite corruption probes
Brazil will lead global growth in the Floating Production, Storage and Offloading vessel (FPSO) industry despite the country’s national oil company, Petrobras, recently facing allegations of corruption, according to research and consulting firm GlobalData.