Exxon Makes Major Bet on Brazil as Petrobras Eases Its Grip

By Sabrina Valle and Kevin Crowley (Bloomberg) -- In a single year, Exxon Mobil Corp. has gone from being a tiny bit player in Brazil to the second-largest holder of oil exploration acreage, trailing only state-controlled Petroleo Brasileiro SA. The last 24 concessions the U.S. giant bought with its partners may hold 41 billion barrels, based on preliminary … [Read more...]

Petrobras to Pay $853 Million U.S. Fine in Car Wash Probe

By Carolina Mandl SAO PAULO, Sept 27 (Reuters) - Petr├│leo Brasileiro SA will pay an $853.2 million fine to settle charges that former executives and directors of the state-run Brazilian oil company broke U.S. anti-corruption laws by bribing politicians and then seeking to conceal the payments, the U.S. Justice Department (DOJ) said on Thursday. Shares in Petrobras, as the … [Read more...]

Brazil Charges Former Vantage Drilling CEO with Corruption

BRASILIA, July 12 (Reuters) - Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials. Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a … [Read more...]

Petrobras to Pay $2.95 Billion to Settle U.S. Class Action Over Corruption

By Brendan Pierson NEW YORK, Jan 3 (Reuters) - Brazil's state-controlled oil company, Petroleo Brasileiro SA, said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup money they claim to have lost as a result of a corruption scandal. Petrobras, as the company is known, did not admit wrongdoing under the deal, … [Read more...]

BSEE: Worker Killed Aboard Petrobras 10000 Drillship in U.S. Gulf of Mexico

A drillship worker was killed last week in an accident on the rig floor of a Petrobras-contracted drillship in the U.S. Gulf of Mexico about 172 miles south of Port Fourchon, Louisiana, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) has confirmed. The offshore oil and gas operator, Petrobras America, reported that the fatality occurred onboard the Petrobras … [Read more...]