With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. At around $37 a barrel, crude prices are well below the $60 firms such as Total (TOTF.PA), Statoil... Continue Reading →
Brazil’s Real Leads Losses in Emerging Markets on Chinese Data
Brazil’s real led global declines as data showing weakness in the nation’s top trading partner added to concern a recession in Latin America’s largest economy will drag on. The real slid 2.3 percent to 4.0431 per dollar at 9:51 a.m. in Sao Paulo, on course for the weakest close in three months. The decline was the... Continue Reading →
Brazil Analysts Ring in New Year With Deeper Recession Forecast
Brazil analysts expect a deeper recession this year than previously forecast, as economic activity and confidence sink amid a political crisis. Latin America’s largest economy will shrink 2.95 percent this year, according to the weekly central bank survey of about 100 economists, versus a prior estimate of a 2.81 percent contraction. It was the 13th straight... Continue Reading →
Petrobras starts the year with a new round of renegotiations with suppliers
01.04.2016 | News release Petrobras starts the year with a new round of renegotiations with suppliers Petrobras said it plans to launch this month a new round of renegotiations of suppliers contracts in an attempt to reduce their operating costs. In 2015, the company managed to reduce by 13% on average, several contracts in the... Continue Reading →
Brazil’s Shrinking Investment-Grade Club Set to Dwindle Further
Brazil’s dwindling number of investment-grade companies is poised to shrink again in 2016. After two downgrades to junk for sovereign debt and more than 200 corporate rating cuts in 2015, Latin America’s largest economy is now home to just 14 investment-grade companies. Six of those at the lowest investment grade have negative outlooks on their ratings,... Continue Reading →
Clarification on News: Decision on the motion to dismiss in the US action
12/30/2015 Rio de Janeiro, December 30, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 3881/2015-SAE, which requests the following clarifications: Official Letter 3881/2015-SAE “A news item published in the newspaper Valor Econômico on December 30, 2015, states, among other matters, that Petrobras obtained a partial court victory in the United States... Continue Reading →
Brazil Ex-President Lula da Silva Faces Probes and Growing Public Rancor
Country’s best-known political figure fights to preserve his legacy and rally his party amid a welter of corruption allegations Mr. da Silva spoke earlier this month at a conference in Berlin. PHOTO: MARKUS HEINE/NURPHOTO/ZUMA PRESS By REED JOHNSON and ROGERIO JELMAYER/WSJ Updated Dec. 29, 2015 5:29 p.m. ET SÃO PAULO—Brazilians are hearing Luiz Inácio Lula da Silva do something he rarely... Continue Reading →
Scandal-hit Petrobras faces new challenge
http://www.ft.com/cms/s/0/9daaa982-a9a0-11e5-843e-626928909745.html#ixzz3vpx8YoiQ December 30, 2015 2:18 pm Scandal-hit Petrobras faces new challenge Joe Leahy in São Paulo/FT Brazil’s largest oil group must grapple with large debts and lawsuits but can count on state backing At a Christmas breakfast with journalists, Aldemir Bendine, the chief executive of Petrobras, said Brazil’s state-controlled oil company was aiming to become “smaller”... Continue Reading →
Brazil’s fall/The Economist Cover 1/2016
Disaster looms for Latin America’s biggest economy Jan 2nd 2016 | From the print edition AT THE start of 2016 Brazil should be in an exuberant mood. Rio de Janeiro is to host South America’s first Olympic games in August, giving Brazilians a chance to embark on what they do best: throwing a really spectacular party. Instead,... Continue Reading →
Brazil’s Rio state implements new tax on oil and gas production
Brazil's Rio de Janeiro state, facing a budget shortfall caused in part by plunging oil prices, imposed new taxes on petroleum and natural gas on Thursday, a move critics say will slash investment in an already battered industry. Brazil's economy is suffering its worst recession in decades, while a corruption scandal at Petrobras, as the... Continue Reading →
Brazil Energy Insight 