Dutch SBM Offshore Leniency Deal Approved by Brazilian Court
A leniency deal between Brazilian prosecutors and Dutch-based SBM Offshore has been approved by a judge, opening the way for the marine engineering group to bid for new contracts in its largest market.As a result of its role in a major…
Exxon Leads Oil Majors in Aggressive Offshore Brazil Bids
Exxon Mobil Corp roared into Brazil's prolific offshore oil fields again on Thursday, clinching eight blocks in partnership with other oil firms eager to lap up the country's choice reserves ahead of presidential elections later this year.
Statoil to Pay Up to $2.9 Bln to Triple Brazilian Output
Norway's Statoil will triple its output off the coast of Brazil after agreeing to buy a 25 percent stake in Roncador, one of the country's largest oilfields, from national oil company Petrobras for up to $2.9 billion. The deal announced…
Petrobras CEO: Brazilian Court to Examine Statoil Contract
A transaction between Statoil and Petrobras that could be worth up to $2.9 billion will likely be scrutinised by Brazil's Federal Court of Accounts (TCU), the CEO of Petrobras said on Monday. "It may be delayed a bit, but it will not stop the process," Pedro Parente told reporters.
Court Orders Petrobras to Supply Natural Gas to Eletrobras
A Brazilian court ordered state-controlled oil firm Petróleo Brasileiro SA to sell natural gas to Centrais Elétricas Brasileiras SA despite the power utility's billionaire debt with the oil company. Eletrobras, as the state-controlled utility is known…
Statoil Confident About Offshore Brazil Deal
Norway's Statoil is confident that its deal with Petróleo Brasileiro SA to acquire a stake in exploration block BM-S-8 offshore Brazil will eventually go ahead despite a court suspension, a spokesman said on Tuesday. "We are confident that he deal will go ahead...
Brazil Court Allows Petrobras to Sell Sergipe, Ceará Offshore Fields
A Brazilian court has ruled that state-controlled oil company Petróleo Brasileiro SA can continue a process to sell several offshore oil fields in the country's northeastern region. In securities filing on Monday, Petrobras said the…
Brazil Court Upholds Petrobras Sale of Gaspetro Stake to Mitsui
A Brazilian court struck down an injunction suspending the sale by state-led oil company Petrobras of a 49 percent stake in its Gaspetro natural-gas distribution unit to Japan's Mitsui & Co., Petrobras said in a statement obtained on Wednesday.
BHP, Vale to Fight Reinstated $6 bln Claim for Samarco Disaster
BHP Billiton and Vale SA said on Friday they would appeal against a Brazilian court's decision to reinstate a $6 billion public civil claim from Brazilian authorities over last year's Samarco iron ore mine disaster. Samarco, along with BHP and 50-50 joint-venture partner Vale…
Petrobras Will Defend Gaspetro Sale to Mitsui
Petróleo Brasileiro SA is unaware of a Brazilian court ruling suspending the sale of a 49 percent stake in a natural gas distribution unit, and vowed to defend the sale through any legal means possible. In a securities filing on Thursday…
Court Blocks Petrobras Gaspetro Stake Sale to Mitsui
A Brazilian court blocked the 1.9 billion real ($469 million) sale of a 40 percent stake in a natural gas unit of Petroleo Brasileiro SA to Japan's Mitsui & Co, throwing up a roadblock to the state-led oil company's efforts to cut debt by selling assets.
Brazil Court Blocks Petrobras Gaspetro Stake Sale to Mitsui
A Brazilian court blocked the planned 1.9 billion real ($509 million) sale of 49 percent of Gaspetro, the gas pipeline unit of Petrobras, to Japan's Mitsui Co, a move that could frustrate the state-run oil company's efforts to sell assets to cut debt.
Ethanol Mills Benefit from Petrobras Gasoline Price Hike
Brazilian ethanol producers will benefit in the medium term from this week's decision by state-run oil company Petrobras to raise gasoline prices, which will boost demand for the biofuel and allow mills to increase margins, experts said on Wednesday.
Petrobras Faces $1.6 Billion in Graft Penalties
U.S. Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters.
Brazil freezes $43.3 mln of Petrobras contractor's assets
A Brazilian court ordered frozen 137.5 million reais ($43.26 million)in assets of engineering firm Mendes Junior and some of its former top executives under investigation in a massive corruption scandal at state-run oil company Petrobras.
MMX Shares Tumble on Report May File Bankruptcy
Shares in Brazilian tycoon Eike Batista's iron ore miner MMX Mineracao e Metalicos SA fell nearly 6 percent to an all-time low on Tuesday on a report that the company is going to ask a Brazilian court for protection from creditors. Brazilian…
