May 4, 2016 2:30pm EDT Reuters Brazil's President Dilma Rousseff reacts during a launch ceremony of Agricultural and Livestock Plan for 2016/2017, at the Planalto Palace in Brasilia, Brazil May 4, 2016. REUTERS/UESLEI MARCELINO The senator charged with studying President Rousseff's impeachment recommended on Wednesday that she be put on trial for breaking budget laws,... Continue Reading →
Maersk Oil leaves Brazil
Danish Maersk Oil will close operations in Brazil after selling its 40% participation in the Polvo field in the Campos Basin to PetroRio (ex HRT). The company sites cost cutting reasons for the sale.
Petrobras – Clarification on News: Announcement of Sale of Assets
Rio de Janeiro, May 04, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 193/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 193/2016-CVM/SEP/GEA-1 “Mr. Director, We refer to the news item published today in the blog Radar Online, of Revista Veja, under the title: "Pretrobras waits the release of... Continue Reading →
Sale of Petrobras Argentina
Rio de Janeiro, May 3, 2016 – Petróleo Brasileiro S.A. – Petrobras, in reference to the Material Facts disclosed on 01.20.2016, 03.02.2016 and 04.08.2016, informs that concluded the negotiations with Pampa Energía of the main terms and conditions for the sale of its entire stake in Petrobras Argentina (PESA), owned through Petrobras Participaciones S.L. ("PPSL").... Continue Reading →
Petrobras – Sale of distribution assets in Chile
Rio de Janeiro, May 3, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that concluded the negotiations with Southern Cross Group of the main terms and conditions for the sale of 100% of Petrobras Chile Distribución Ltda. (“PCD”), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with... Continue Reading →
Why This Year’s Oil Rally Might Be for Real
At first blush, the rally in oil to start 2016 bears some resemblance to the rally at the start of last year, which ultimately ended in tears. This time, though, analysts at Citigroup Inc. led by Seth Kleinman say the rally has legs. "The extra year of low prices has finally derailed the supply resilience that defined... Continue Reading →
Shell’s BG Risk Starts to Pay as Output Added, Costs Slashed
Royal Dutch Shell Plc’s record $54 billion acquisition of BG Group Plc is starting to pay off as the assets give it higher production and cash flow, helping it beat analysts’ earnings estimates when it reported quarterly results Wednesday. While Europe’s biggest oil company benefits from BG’s assets, it’s cutting expenses quickly enough to ensure the... Continue Reading →
Brazil’s Crusading Corruption Investigation Is Winding Down
The crusading federal judge behind Brazil’s explosive corruption investigation, facing the limits of his mandate and signs of political pushback, sees his role in the case winding down by the end of the year, a turning point in a probe that has helped push the president to the brink of impeachment. For more than two... Continue Reading →
Maersk Soars After Profit Drops Less Than Expected Amid Cuts
A.P. Moeller-Maersk A/S rose the most in 2 1/2 months after reporting a smaller decline in first-quarter profit than estimated following deeper cost cuts at its oil unit. Net income was $211 million last quarter compared with $1.54 billion a year earlier, the Copenhagen-based company said in a statement on Wednesday. That compares with a... Continue Reading →
Shell Quarterly Profit Beats Estimates on Refining Earnings
Royal Dutch Shell Plc’s first-quarter profit beat analyst estimates as better-than-expected earnings from oil refining and chemicals production countered crude prices at a 12-year low. Profit adjusted for one-time items and inventory changes fell 58 percent to $1.6 billion, exceeding the $1.18 billion average of analysts’ estimates compiled by Bloomberg. Europe’s biggest oil producer, which borrowed... Continue Reading →
Brazil Energy Insight 