Six contractors sued in Brazil over scandal

Six contractors sued in Brazil over scandal

Posted by Nicole Veronneau February 23, 2015


Brazilian prosecutors filed lawsuits against six construction and engineering groups, seeking 4.47 billion reais ($1.55 billion) in damages in connection with a contract-fixing, bribery and political kickback scandal at state-run oil company Petrobras. The five lawsuits, filed in federal court in Brasilia, are against Camargo Correa, the Brazil unit of Japan’s Sanko; Mendes Junior Engenharia; OAS; Galvao Engenharia; and Engevix Engenharia, the federal public prosecutor’s office, known as MPF, said in a statement seen by Reuters on Friday. The lawsuits… More

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Canada gives tax breaks to LNG projects to spur investments

Canada gives tax breaks to LNG projects to spur investments

Posted by Trish Selimbegovic February 20, 2015


Canada is giving tax breaks to liquefied natural gas (LNG) projects in an effort to spur multibillion-dollar investments that so far haven’t gone past proposals. Over the next decade, under the draft regulations, companies making capital spending in LNG megaprojects will be able to deduct costs more quickly, allowing them to defer some tax payments and recover their investments sooner. The new capital cost allowance rate would be 30% for equipment used in gas liquefaction, up from 8%, and 10%… More

Oil hits $60 for first time in 2015

Oil hits $60 for first time in 2015

Posted by Trish Selimbegovic February 13, 2015


Oil rose above $60 a barrel on Friday for the first time this year, bringing its gain this week to almost 4%, supported by signs that deeper industry spending cuts may curb excess supply. Also supporting oil, growth in Germany’s gross domestic product beat expectations, as did plans for a meeting between Greek officials and creditors. Eurozone gross domestic product data is due later on Friday. The price of Brent crude collapsed from $115 in June to $45.19, the lowest… More

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Share your expertise at The Pipeline & Energy Expo

Share your expertise at The Pipeline & Energy Expo

Posted by Andrea Marston February 12, 2015


The state of Oklahoma has a rich heritage in the oil and gas industry. The Pipeline & Energy Expo is a Tulsa-based conference and exhibition brings together businesses from United States and Canada to network with suppliers, potential clients and customers. Since 2009, this event has strived not only to increase awareness of the state’s rich heritage in the energy industry, but also promote connections between surrounding states and Canada with interests in pipeline challenges, regulation, integrity, and proposed projects…. More

World’s Biggest Gas Field to be Fully Developed by 2017

World’s Biggest Gas Field to be Fully Developed by 2017

Posted by Trish Selimbegovic February 11, 2015


South Pars, World’s biggest gas field, will be fully developed in three years, an Oil Ministry official said. Deputy of the ministry for planning and supervising hydrocarbon resources Mansour Moazzami said all phases of South Pars will be developed by 2017. He said the first phases of the gas field are already producing 100 million m3/d of gas, adding that another 100 million cubic meters per day will be added to the country’s production capacity next year. The official stressed… More

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