Fall from Grace: Batista Gets 30-Years for Corruption
also linked to the construction of the $3.7 billion Açu port facility, controlled since 2013 by Prumo Logistica, which is majority owned by U.S.-based EIG Energy Partners.Prosecutors said Batista paid a quarter of the bribes to Cabral in cash and the rest in shares of state-led oil company Petroleo Brasileiro SA, miner Vale SA and drinks company Ambev SA, a unit of Anheuser Busch Inbev NV.Batista was last year fined 21 million reais ($5.4 million) for trading shares based on insider information about shipbuilding company OSX Brasil.Tuesday's ruling was the sixth corruption conviction for Cabral
Brazil May Open Petrobras Subsalt Area to Other Companies
may allow companies besides Petrobras to bid for the right to produce extra oil from areas it sold to the state-led oil company in 2010, the head of the exploration and production policy at the energy ministry, Jose Botelho, said on Wednesday. Botelho also said the government may allow Petroleo Brasileiro SA, as Petrobras is formally known, to pay with oil for adjustments in the price of the maximum 5 billion barrels of oil and equivalent natural gas it is allowed to produce in the areas. (Reporting by Marta Nogueira, writing by Jeb Blount; Editing by Daniel Flynn
NYK: Oil Production Starts at Third FPSO Unit
;leo e Gás S.A. (Brazil), and a joint venture company between NYK (48.72 percent; head office: Tokyo; president: Tadaaki Naito) and the Mitsubishi Corporation (51.28 percent; head office: Tokyo; president & CEO: Takehiko Kakiuchi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FSPO. NYK will aim to further advance its expertise in the FPSO business by dispatching technical staff to this project as well as FPSO Cidade de Paraty. Outline of FPSO Oil processing capacity 150,000 barrels of oil
Petrobras Bringing Two FPSO Platforms Online
Brazil's state-led oil company Petroleo Brasileiro SA is working hard to meet its production targets, the company's head of exploration and production, Solange Guedes, said on Monday in a telephone interview. Guedes said the company's floating, production, storage and offloading ship (FPSO) named Cidade de Saquarema could begin operations in the Lula Central field this month and that she expects that Cidade de Caraguatatuba FPSO in the Lapa field to start operations in August. (Reporting by Marta Nogueira; Writing by Jeb Blount)
Brazil Committee Votes to End Exclusive Petrobras Subsalt Rights
according to Rio de Janeiro State University. The oil in the region is trapped far beneath the seabed more than a mile and half (2,414 meters) of ocean by a layer of mineral salts. The bill would modify a 2010 law requiring all new development in the so-called Subsalt Polygon be led by Petroleo Brasileiro SA, as Petrobras is formally known, and that Petrobras take a minimum 30 percent financial stake in all subsalt projects. The bill approved by the committee modifies A corruption scandal, $126 billion of debt, the largest in the world oil industry, and falling oil prices have forced
Offshore Brazil: Production Starts at FPSO Unit
S.A. (Brazil), and a joint venture company between NYK (48.72 percent; head office: Chiyoda-ku, Tokyo; president: Tadaaki Naito) and the Mitsubishi Corporation (51.28 percent; head office: Chiyoda-ku, Tokyo; president & CEO: Ken Kobayashi). The joint venture has a 20-year time charter contract with Petroleo Brasileiro S.A. (Petrobras) to operate the FSPO. NYK will aim to further advance its expertise in the FPSO business by dispatching technical staff to this project as well as FPSO Cidade de Paraty.*** In accordance with its “More Than Shipping 2018” medium-term management
MHI Subsidiary in Brazil for FPSO Compressors
is consigned to perform some local assembly operations relating to orders for Brazil's domestic market. By strengthening maintenance, repair and other after-sale servicing functions in partnership with NGM, MCO-B will be well positioned to respond swiftly to the needs of its customers. Today Petroleo Brasileiro S.A. (Petrobras), Brazil's state-owned oil company, is undertaking a project exploring for oil in Brazil's offshore pre-salt layer. Over the long term, together with the broader Latin American market, considerable demand is expected for FPSOs, systems that require multiple compressors
MODEC FPSO Achieves First off Brazil
de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract. The FPSO is chartered by Tupi B.V., a subsidiary of Petroleo Brasileiro S.A. (Petrobras), under a 20-year lease and operation contract. Moored 240 kilometers off the coast of Rio de Jeneiro at a water depth of around 2,240 meters, the FPSO is capable of processing 150,000 barrels of oil per day and 280 MM standard cubic feet of gas per day
Rousseff to Fight to Keep Subsalt Oil Production Sharing
Brazilian President Dilma Rousseff said on Thursday she will "fight to the end" to maintain Brazil's oil production-sharing regime in its offshore Subsalt Polygon area. In the wake of a corruption scandal, Petroleo Brasileiro SA's large debt and weak financial position limit its ability to meet a requirement it finance a minimum 30 percent of all new subsalt projects and run them as formal operator, reducing the chance the giant resource will be developed, critics say. (Reporting by Anthony Boadle)
February 2024
