For The Rio Times
A federal court has served Chevron and Transocean with a preliminary injunction ordering them to halt operations in Brazil within thirty days. The injunction comes in relation to civil lawsuits resulting from a November 2011 oil leak off the coast of Rio de Janeiro, in the Campos Basin’s Frade field, which is operated by Chevron using a Transocean rig.
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For The Rio Times
The newest addition to Rio de Janeiro state’s Superporto do Açu will be where Norwegian company Subsea 7 plans to begin manufacturing oil and gas pipelines in 2014. The R$21 million-per-year lease was signed following Subsea 7’s withdrawal from plans to build the project in the southeastern state of Paraná, where difficulties in obtaining an environmental license blocked the company’s first choice of location.
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For Americas Quarterly
Late last month, the Mercosur alliance met, suspended Paraguay and ushered in Venezuela as a full member in almost as little time as it took the Paraguayan congress to impeach their former president, Fernando Lugo, the preceding week.
What does this mean for Brazil?
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For The Rio Times
Shares in Eike Batista’s oil and gas company, OGX Petroleo & Gas Participacoes (OGX), rebounded Monday after a rollercoaster week saw them drop by forty percent last Wednesday and Thursday, temporarily knocking some US$4 billion off the Brazilian billionaire’s personal fortune, according to calculations by Bloomberg.
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