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It’s been a tough run for Latin American leftists, and investors couldn’t be happier. Traders have snapped up assets from countries showing a shift away from the populist leadership of the past decade. Venezuelan bonds climbed to the highest since May after the opposition on Sunday won a majority in Congress for the first time in... Continue Reading →
General Electric Co. is in advanced talks to buy the drill-bits and drilling-services divisions of Halliburton Co., which is divesting assets to win antitrust approval for its takeover of Baker Hughes Inc., according to people familiar with the matter. Selling both the drill-bits and drilling-services businesses could have fetched as much as $5 billion in... Continue Reading →
12/08/2015 Rio de Janeiro, December 8, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 524/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 524/2015/CVM/SEP/GEA-1 “We refer to the article published in the Mercado (Market) section of Folha de São Paulo newspaper on December 4, 2015 entitled: “Without Sete’s rigs, Petrobras will... Continue Reading →
Brazil's Supreme Court has suspended impeachment proceedings against President Dilma Rousseff until it can rule on the constitutional validity of the opposition bid to impeach her, a court official said on Wednesday. Justice Luiz Edson Fachin decided late on Tuesday to suspend the appointment of an impeachment committee and all its proceedings until the top... Continue Reading →
Brazil’s real rallied after the government suffered a setback in Congress that fueled speculation there may be more support to oust President Dilma Rousseff than previously expected. The real gained 0.8 percent to 3.7673 per dollar as of 10:13 a.m. in Sao Paulo. One-month implied volatility fell to 20.14 percent, still the highest among 16 major currencies... Continue Reading →
The relatively unheralded corner of the oil sector that sends supply boats out to offshore oil rigs may see bankruptcies as the worst crude market downturn in decades spreads. More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, according to research released Tuesday from... Continue Reading →
The lower house of Brazil's Congress voted on Tuesday to appoint a committee stacked with opponents of President Dilma Rousseff to study whether to impeach her for breaking budget rules, a blow to the leftist leader battling for political survival. In a secret ballot, lawmakers voted 272-199 for a list of committee members drawn up... Continue Reading →
LONDON/RIO DE JANEIRO, Dec 8 Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion,... Continue Reading →
Brazil’s real declined the most in a week after economic data from China, the country’s biggest trading partner, sparked a slump in currencies of commodity-producing nations. The real lost 1.1 percent to 3.8084 per dollar as of 11:28 a.m. in Sao Paulo, after rising as much as 0.6 percent earlier. A gauge of 20 developing-nation currencies declined... Continue Reading →
Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned any limits on crude output, prompting speculation that a record global glut will continue. Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009. Oil... Continue Reading →
Brazil Energy Insight 