12/11/2015 Rio de Janeiro, December 11, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 531/2015/CVM/SEP/GEA-1 which requests the following clarifications: Official Letter 531/2015/CVM/SEP/GEA-1 “We refer to the news item published on December 9, 2015 in the Negócios (Business) section of the Reuters Brasil website, entitled Petrobras oferece vender até 10% da... Continue Reading →
Brazilians take to streets to demand Rousseff’s impeachment
Tens of thousands of Brazilians took to the streets on Sunday to demand President Dilma Rousseff's ouster, but the first nationwide protests since formal impeachment proceedings began were smaller than similar events earlier this year. Pollster Datafolha said 40,000 people turned out in Brazil's largest city of Sao Paulo, down from 135,000 in an August... Continue Reading →
Shell’s Record Takeover of BG Clears Final Antitrust Hurdle
Royal Dutch Shell Plc got clearance from antitrust authorities in China for the takeover of BG Group Plc, removing the final regulatory hurdle for its biggest-ever deal. The clearance from China’s Ministry of Commerce follows similar approvals from authorities in Brazil, the European Union and Australia. BG and Shell will now seek assent from their shareholders... Continue Reading →
Seismic Surveyor Dolphin Files for Bankruptcy as Oil Woes Spread
Dolphin Group ASA, a Norwegian seismic surveyor that maps the seabed for oil and gas reservoirs, filed for bankruptcy as the collapse in crude prices claimed another victim. The Oslo-based company failed to reach a agreement with bondholders, banks and other stakeholders to restructure its debt and capital structure after months of talks and will... Continue Reading →
Crude Falls Below $35 per Barrel in New York for First Time Since 2009
Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. Futures fell as much as 2.7 percent to $34.67 a barrel in New York, the lowest since Feb. 19, 2009. They lost... Continue Reading →
Brazil’s Real Declines as Economists Reduce 2016 GDP Forecas
Filipe Pacheco/Bloomberg December 14, 201 Brazil’s real declined the most among regional currencies on worsening prospects for the economy as President Dilma Rousseff fights attempts to impeach her. The real dropped 0.5 percent to 3.8925 per dollar as of 9:44 a.m. in Sao Paulo, on course for its lowest level on a closing basis since... Continue Reading →
Rousseff Critics Stage Brazil March as Congress Watches Closely
Critics of President Dilma Rousseff are organizing street protests in more than 90 cities throughout Brazil on Sunday, providing the first gauge of public opinion since Congress opened impeachment proceedings. Civic groups posted lists of rallying points and times on social media, calling on Brazilians to march in favor of Rousseff’s ouster. "Impeachment: with you on the... Continue Reading →
Cleaning House – Brazil police arrest four in corruption probe of water project
Brazilian federal police arrested four people on Friday including the chief executive of engineering group OAS in a new probe of suspected price-fixing and kickbacks on a long-delayed project to divert water to the drought-prone Northeast. Police said they had evidence that a consortium of engineering companies working to redirect water from the São Francisco... Continue Reading →
Brazil’s Petrobras says not considering Libra area sale
Brazil's Petroleo Brasileiro SA (PETR4.SA), or Petrobras, is not considering selling a 10 percent stake in its giant Libra offshore oil prospect at this time, the state-run oil company said on Friday. Petrobras was responding to a report on Tuesday by Reuters that two industry sources had been told by the company that the Libra... Continue Reading →
Halliburton Bid for Baker Hughes in Limbo as U.S. Deadline Looms
Halliburton Co.’s takeover bid for Baker Hughes Inc. has come down to the wire with the U.S. Justice Department, which may decide by next week whether to approve the deal after months of negotiations. Halliburton has presented a package of proposed asset sales to antitrust officials in hopes of allaying their concerns that the tie-up... Continue Reading →
Brazil Energy Insight 