Brazil has chosen Murilo Ferreira, the chief executive officer of Vale (NYSE:VALE), to head the board of embattled state-run Petroleo Brasileiro SA or Petrobras, according to a filing from the oil company on Friday. Advertisements
Brazil’s government has selected Murilo Ferreira, the chief executive officer of miner Vale SA, to head the board of embattled state-run Petroleo Brasileiro SA, according to a filing from the oil company on Friday. The other nominations for the board responsible for steering Petrobras through a massive corruption probe were little changed from the current one. Shareholders will vote on the selections at an April 29 meeting. The government is Petrobras’ controlling shareholder.
Read MoreA widening corruption probe into Brazil’s state-run oil company Petrobras is likely to delay by at least one year four major offshore oilfield projects, Portuguese partner Galp Energia said, in a first sign of strain on foreign investors. Galp, which is involved in nearly 30 on-shore and off-shore oil and gas projects in Brazil, flagged a one-year delay in the building of production ships for the Lula Sul, Lula Norte, Lula Extremo Sul and Lula…
Read MoreThe President of the Bank of Brazil, Aldemir Bendine, was chosen to take over from Grace Foster in Petrobras command after refusal of other names in the private sector, including the president of Vale, Murilo Ferreira. According to sources consulted by the Broadcast, real-time news service Agência Estado, the Government’s preference was for Ferreira, from giant miner Vale.
Read MoreThe CEO of Vale, Murilo Ferreira, was probed to take the vacancy left by Grace Foster as CEO of Petrobras, according to speculations in the financial market. But, according to ministers, the appointment of the executive is risky because the market expects a less identified option with President Dilma Rousseff, as was done at the Finances Ministry. The former president of the mining company, Roger Agnelli, is also cited. Today (Friday 6), the new State…
Read MoreGE Oil & Gas has announced a more than $300 million contract with Petrobras for the first supply of the subsea manifold systems for Brazil’s pre-salt fields, located offshore in water depths up to 6,500 feet (2,000 meters). This award includes eight manifolds that will be designed with retrievable injection modules to allow water-alternated gas injection for up to four wells, and system integration with subsea controls.
Read MoreDiscovery/Development • Italy’s Eni has confirmed gas discoveries in the Area 4 block in northern Mozambique’s Rovuma Basin. Eni started drilling the Agulha-2 test welI in February this year, estimating reserves at 85 trillion cubic feet. Eni has a 50% interest in Area 4, along with China National Petroleum Corp. (20%), Portugal’s Galp Energia (10%), Mozambique state-run Empresa Nacional de Hidrocarbonetos (10%) and Korea Gas (10%). Norway’s Statoil and US-based Anadarko are also operating in…
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