Fall from Grace: Batista Gets 30-Years for Corruption
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, who has been sentenced
Statoil Reports Success in Espírito Santo
to enter the São Bernardo discovery in Espírito Santo. The discovery further strengthens Statoil's belief in the oil potential in the basin. On March 19, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) approved Statoil’s acquisition of Vale SA’s 25% equity in the BM-ES-22A concession in the Espírito Santo basin offshore Brazil. The concession contains the São Bernardo oil discovery made in April 2013. The discovery strengthens Statoil’s position in the basin and the view of its prospects. Two reservoir
Statoil Expands Brazil Offshore Exploration
Statoil expands its exploration portfolio with the acquisition of 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin offshore Brazil. BM-ES-22A is comprised of the two Blocks ES-M-468 and ES-M-527. Petrobras is the operator with 75% equity and Vale holds a 25% share. It is located in the Outer Espirito Santo Basin partially adjacent to the BM-ES-32 license where Statoil is partner and which holds the Indra discovery. “The acquisition allows Statoil to expand its position in a prioritised basin for Statoil. The position is in line with Statoil’s
February 2024
