Petroleo Brasileiro SA was rewarded with its first rating upgrade in five years after it stepped up efforts to unload assets and began implementing a new fuel price policy. Petrobras, as the Rio de Janeiro-based oil company is known, had its rating raised one level to B2 by Moody’s Investors Service, which pointed to lower... Continue Reading →
BRIEF-Moody’s upgrades Petrobras’ ratings to B2, changes outlook to ‘stable’
Oct 21 Moody's: * Moody's upgrades Petrobras' ratings to B2; changes outlook to stable * Actions on Petrobras' ratings reflect improvements in company's liquidity profile and in regulatory framework in brazil over last few months * Petrobras' ratings have stable outlook; expect that, in next 12 to 18 months, company's liquidity and overall credit risk... Continue Reading →
Petrobras – New diesel and gasoline pricing policy
Click below for the Petrobras - New Diesel and Gasoline Pricing Policy Presentation. apresentacao-politica-de-precos-ing
Aker Solutions to Acquire Majority Stake in Brazil’s C.S.E.
October 21, 2016 - Aker Solutions agreed to buy 70 percent of Brazilian C.S.E. Mecânica e Instrumentação Ltda, building on a strategy to expand its services business in key international markets. The agreement includes an option to purchase the remaining 30 percent of the company three years after the expected close of the transaction... Continue Reading →
GE Cuts Sales Outlook as Oil Drop Hampers Industrial Growth
General Electric Co. may not grow this year as low oil prices, a strong dollar and a sluggish economy crimp demand for oilfield equipment and locomotive parts, a setback for Chief Executive Officer Jeffrey Immelt as he pursues a sharpened focus on manufacturing. The stock fell the most in more than a month after GE... Continue Reading →
AQUALIS WINS OFFSHORE SERVICES CONTRACTS IN THREE PRE-SALT PLATFORMS
20 Out, 2016 Norwegian engineering consultancy Aqualis Offshore was contracted by Japanese company Modec and the BrasFELS shipyard to provide services in three platform ships for the pre-salt layer. Modec contracted Aqualis to work for the integration of the FPSO City Campos dos Goytacazes MV29 in the BrasFELS shipyard in Angra dos Reis, in the... Continue Reading →
Petrobras – Negotiations to sell interest in Guarani
Rio de Janeiro, October 21, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that it is beginning negotiations with Tereos Internacional S.A. regarding the sale of 45.9% interest of Petrobras Biocombustível in the sugarcane company Guarani S.A. and that it is in progress the hiring of Banco Itaú BBA to advise in the transaction. The... Continue Reading →
Moody’s downgrades Odebrecht’s ratings; outlook negative
Global Credit Research - 20 Oct 2016 Approximately USD3.1 billion of Debt Securities Affected New York, October 20, 2016 -- Moody's Investors Service, ("Moody's") Moody's Investors Service downgraded to Caa1 from B3 the foreign currency rating assigned to the senior unsecured notes issued by Odebrecht Finance Ltd. (OFL) and guaranteed by Odebrecht Engenharia e... Continue Reading →
Petrobras unions reject 6 percent pay rise, raising strike chances
Brazilian oilworkers' unions said they rejected a sweetened pay offer from Petroleo Brasileiro SA in annual salary talks on Wednesday, raising chances of a second major strike in two years at the state-led oil company. Petrobras, the world's most indebted oil company, offered to raise base salaries for its more than 50,000 employees by 6... Continue Reading →
Keppel Sees More Job Cuts After Profit Slumps 38% on Weak Oil
Keppel Corp., which has already eliminated more than a quarter of its workforce this year, said "painful measures" and job cuts will continue as profit at the world’s biggest oil-rig builder drops. Senior managers at the Singapore-based company have taken a cut in their monthly pay and directors will propose lower fees, Keppel said in... Continue Reading →
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