French sugar group Tereos is interested in buying back a 45 percent minority stake in seven of its Brazilian-based sugar and ethanol plants from the state-run Petrobras, Jacyr Costa Filho, head of Tereos' local operations, said on Monday. "We know these assets well, we understand their potential, so if they indeed decide to leave the... Continue Reading →
Brazil set to cut rates this week, economists split on size: Reuters poll
Brazil will probably reduce interest rates this week for the first time in four years, in what is set to be the beginning of a long and deep series of rate cuts expected to help the economy emerge from a two-year-long recession. Forty-six of 50 economists polled by Reuters expect the central bank to cut... Continue Reading →
Petrobras – Oil and natural gas production in September
Rio de Janeiro, October 17, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and gas production in September was 2.88 million barrels of oil equivalent per day (boed), a 1.4% increase in comparison to the previous month. Of this total, 2.75 million boed were produced in Brazil and 0.13 million abroad.... Continue Reading →
Brazil to ease local content requirements in oil, gas auctions -report
Oct 17/Reuters Brazil will stop favoring companies that offer to purchase a larger amount of local goods and services when selecting winners in oil and gas rights auctions, newspaper Valor Economico reported on Monday. In previous auctions, companies that offered more in the way of local content requirements were favored over peers. The newspaper said... Continue Reading →
ARPOADOR SHIPYARD DELIVERS SUPPORT VESSEL TO OCEANICA OFFSHORE
Oct 14, 2016 The Arpoador shipyard delivered another SDSV type vessel, used to support activities for the shallow diving operations, to service company Oceanica , http://oceanicabr.com/en/ .The Oceanic Sub V is chartered by Petrobras for a period of three years. The vessel hosts 37 technicians in 13 cabins, including divers, operators and crew. The... Continue Reading →
Brazil Analysts Forecast Steeper Interest Rate Cuts in 2016
Brazil economists reduced their forecast for the 2016 year-end benchmark interest rate just days before the central bank meets to decide on monetary policy. The country’s Selic rate will fall to 13.5 percent by the end of this year from the current level of 14.25 percent, according to the central bank survey of about 100... Continue Reading →
Petrobras says September output in Brazil hits 2.75 mln bpd
Mon Oct 17, 2016 | Reuters Oct 17 State-run oil company Petrobras' production of oil and natural gas in Brazil reached 2.75 million barrels of oil equivalent per day in September, the company said in a securities filing on Monday. Petroleo Brasileiro SA, as the company is formally known, said it produced a further 0.13... Continue Reading →
Petrobras – Negotiations for the sale of Liquigás
Rio de Janeiro, October 14, 2016 – Petróleo Brasileiro S.A. – Petrobras informs, in relation to the sale of its wholly owned subsidiary Liquigás Distribuidora S.A. (Liquigás), announced through a press release on June 15th, that it is in advanced negotiations with Ultrapar Participações S.A. The transaction depends on the conclusion of the negotiations and... Continue Reading →
Update – Brazil’s Petrobras cuts fuel prices, pledges agile pricing
Brazil's state-run oil company Petrobras said on Friday it was cutting fuel prices as part of a new policy tracking international benchmarks more closely after politically driven pricing cost the company billions in recent years. Petroleo Brasileiro SA, as the company is formally known, will cut prices for diesel by 2.7 percent and gasoline by... Continue Reading →
Brazil’s Petrobras cuts fuel prices under new pricing policy
Fri Oct 14, 2016 |Reuters Brazil's state-run oil company Petrobras said on Friday that its board agreed to cut prices for diesel by 2.7 percent and gasoline by 3.2 percent under a new policy which will track international prices more closely, the company said in a filing on Friday. Petroleo Brasileiro SA, as the company... Continue Reading →
Brazil Energy Insight 