New oil bull market in sight as Brazil, Iraq cut output targets

LONDON (Reuters) - Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry.

Petrobras management quits, race on to find replacements

(Reuters) - The chief executive and other senior management at Brazil's Petrobras resigned on Wednesday amid a festering corruption scandal, setting off a scramble to find replacements capable of restoring investor confidence in the state-run oil company.

Brazil's largest company, Petrobras, accused of political kickbacks

The brutalist headquarters of South America's biggest company, Petrobras, offers a harsh riposte to those who try to romanticise Brazil as a land of golden beaches and endless forest.

Petrobras Cash Flow Woes Hit Tenaris Profit, CEO Says

Cash flow constraints at Petroleo Brasileiro SA (PBR), the biggest producer in ultra-deep waters, has slowed output gains, curbing profit at Tenaris SA (TS), the oil equipment supplier said today.

Petrobras scrambles diesel armada from India after refinery fire

HOUSTON/NEW DELHI: Brazil's state-run Petrobras has booked extra cargoes of fuel from India, most of it diesel, market sources said on Friday, after a fire two weeks ago shut down its fifth-largest refinery.

Petrobras Gets Fuel Price Increases to Ease Import Losses

Petroleo Brasileiro SA (PETR4) is increasing fuel prices as the world’s most indebted oil producer seeks to eliminate the gap between local and global values to help bolster profit.

Brazil oil auction: Lone bid wins exploration rights

The rights to explore Brazil's biggest oilfield have been won at an auction by a consortium led by Brazil's state-run Petrobras, backed by Total, Shell and Chinese firms.

Brazil oil agency ANP appeals Transocean, Chevron oil spill ban

RIO DE JANEIRO (Reuters) - Brazil's petroleum regulator ANP appealed an injunction on Monday banning Transocean Ltd and Chevron Corp from operating in Brazil on the grounds the ban would harm oil exploration in the country, ANP chief Magda Chambriard said.

Chevron appeals Brazil ban, seeks oil field restart

RIO DE JANEIRO (Reuters) - Chevron , the No. 2 U.S. oil company, has appealed against an injunction banning it and its drilling contractor Transocean Ltd from operating in Brazil while civil and criminal charges over an oil spill last November are judged.

Brazil oil regulator: Chevron leak not "negligence"

BRASILIA (Reuters) - An oil spill off the Brazilian coast in November was not the result of negligence by Chevron or drill-rig operator Transocean, Brazil's oil regulator said on Thursday, providing a boost to the companies and their executives as they face criminal charges.