Rio de Janeiro, July 13, 2016 - Petóleo Brasileiro S.A (Petrobras) announces that today, through subsidiary Petrobras Global Finance B.V. (PGF), it has completed the US$3 billion bond sale on the international capital markets (called global notes). This sale constituted a reissue of securities maturing in 2021 and 2026, originally issued in May 2016. Of... Continue Reading →
Brazil’s Temer ally is new lower house speaker, eyes reforms
Congressman Rodrigo Maia is greeted by congressmen during a session to elect the new president of the chamber of deputies in the National Congress in Brasilia, Brazil July 13, 2016. REUTERS/UESLEI MARCELINO Brazil's lower house of Congress elected an ally of interim President Michel Temer as its new speaker late on Wednesday, marking a... Continue Reading →
Brazil Real Volatility Near 12-Month Low as Bank Retires Swaps
The cost of buying options to protect against swings in Brazil’s real is close to its lowest level in a year as the central bank unwinds its swaps program, which had helped investors hedge their exposure to a weakening currency. Three-month implied volatility was little changed Wednesday at 17.51 percent after falling to the lowest level since... Continue Reading →
Petrobras – Sale of Nova Transportadora do Sudeste: extension of the negotiations
Rio de Janeiro, July 12, 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to negotiations for the sale of its equity interest in Nova Transportadora do Sudeste, disclosed on May 12th, informs that the negotiations with the consortium headed by Brookfield, continue, having been extended the period of exclusivity for completion of negotiations for... Continue Reading →
Bulk of Global Oil Projects Seen Working Below $60 on Cost Cuts
Most of the oil projects planned over the next decade are economically viable with prices below $60 a barrel as explorers succeed in squeezing costs, consultant Wood Mackenzie Ltd. said. Oil explorers will be able to add 9 million barrels a day to global supply by 2025 with Brent crude under $60, mostly U.S. shale... Continue Reading →
Another system in Lula field is the eighth in the Santos Basin Pre-Salt
Rio de Janeiro, July 12, 2016 – Petróleo Brasileiro S.A. - Petrobras announces the start-up of the Lula Central production system with the interconnection of the first production well (8-LL-81D-RJS) to FPSO Cidade de Saquarema, on July 8, and the production stabilization at around 30,000 barrels per day (bpd) on July 11. Located in Lula... Continue Reading →
Workers Party deals drove rise and fall of OAS, Brazil builders
An aerial view shows the Arena das Dunas stadium, which will host matches for the 2014 soccer World Cup, in Natal, Brazil, January 22, 2014. REUTERS/SERGIO MORAES/FILE PHOTO On Christmas Day 2014, in an empty São Paulo office building, four senior executives at engineering firm Grupo OAS SA set in motion a corporate bankruptcy... Continue Reading →
Petrobras meeting with investors July 11, 2016
Petrobras CEO Pedro Parente and other Directors met with investors on July 11, 2016. Read attached presentation Reuniao-com-Investidores-Presidente-Diretores-Ingles
Brazil Analysts Forecast Stronger Real
Brazil economists forecast a stronger currency in 2016 and 2017 for the second straight week as the government seeks to shore up fiscal accounts and rebuild confidence. The country’s real will reach 3.55 per U.S. dollar at the end of 2017, compared to the previous week’s forecast of 3.70 and 3.81 a month ago, according... Continue Reading →
Brazil’s Petrobras bringing two FPSO platforms online
Jul 11, 2016 Reuters Brazil's state-led oil company Petroleo Brasileiro SA is working hard to meet its production targets, the company's head of exploration and production, Solange Guedes, said on Monday in a telephone interview. Guedes said the company's floating, production, storage and offloading ship (FPSO) named Cidade de Saquarema could begin operations in the... Continue Reading →
Brazil Energy Insight 