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 has been told it must pay $1.9billion in back taxes and fines related to deductions on its 2007 and 2008 filings.
BHP Billiton said progress has been made in its negotiations with Brazilian authorities on a settlement for the Samarco tailings mine dam burst.
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.
Oil major Shell expects oil and gas output in Brazil’s offshore industry to quadruple by 2020.
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.
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 has won a contract with Teekay Offshore for the FPSO Petrojarl I bound for the Atlanta field, offshore Brazil.
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 Offshore’s chief executive has avoided an admission of guilt after settling with Brazilian prosecutors over “personal favouritism” charges.
Wood Group landed a contract with PetroRio for its Polvo A platform in the southern Campos basin.
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 (National Oilwell Varco) said it has terminated its contract with Estaleiro Atlantic Sul in Brazil to deliver seven deepwater drilling equipment packages.
DOF Subsea has won two new contracts set to commence this month.
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 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 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 Oilfield Services has been awarded a Procel Edifica certificate for its environmentally friendly base in Brazil.
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.
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
Petrobas has made a deep water oil discovery in a new well extension in the Pitu area offshore Brazil.
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 Offshore Drilling said two contracts for a pair of rigs with Petrobras have been ended ahead of schedule.
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.
Technip said it has been awarded a contract from Libra Oil & Gas in the Santos Basin pre-salt area, offshore Brazil. The company will carry out the work for the consortium which is led by Petrobras Netherlands and its partners Shell, Total, CNOOC and CNPC. Technip said the project includes the supply of flexible pipes for the Libra extended well test field and is one of the first steps of the giant field development.