Brought to you by Quest Offshore & Southern Cone Consultants
Denmark's shipping and oil group A.P. Moller-Maersk said one of its employees in Brazil received a request from authorities last month to provide additional information for a corruption investigation at state-run oil firm Petrobras. Prosecutors say Maersk, which first met with Brazilian investigators in July 2014, is one of more than a dozen foreign companies... Continue Reading →
Brazil’s President Dilma Rousseff said her Finance MinisterJoaquim Levy is not isolated and worn out, even after several of his recent proposals aimed at avoiding a sovereign credit rating downgrade were blocked. Brazil’s Congress has redoubled its opposition to Levy’s austerity proposals as Latin America’s biggest economy heads to its first two-year recession since 1931.... Continue Reading →
Saudi Arabia and its Gulf allies are at odds with Iran and other OPEC members over whether the organization should include oil-price forecasts in its long-term strategy report, according to three of the group’s delegates. The Gulf kingdom, which has led the Organization of Petroleum Exporting Countries in a battle against rival producers, is seeking... Continue Reading →
Brazil’s real slid for a fourth straight day and fell to a new 12-yearlow as a bigger-than-forecast drop in industrial production added to concern the nation is facing its longest economic contraction since the 1930s. The real declined 0.3 percent to 3.7111 per dollar Wednesday as of 10:08 a.m. in Sao Paulo, the weakest level... Continue Reading →
September 01, 2015 17:25 ET Vantage Drilling Company Receives Notice of Drilling Contract Termination HOUSTON, TX--(Marketwired - Sep 1, 2015) - Vantage Drilling Company (NYSE MKT: VTG) ("Vantage") received a notice dated August 31, 2015 (the "Notice") from Petrobras America, Inc. ("PAI") and Petrobras Venezuela Investments & Services B.V. ("PVIS") stating that PAI and PVIS... Continue Reading →
Much of Brazil’s plan to cut as many as 10 ministries by the end of the month is little more than re-branding, without saving the government much money, according to a cabinet member participating in the discussions. There are currently 38 officials in Brazil with the status of minister, including the heads of nine secretariats and... Continue Reading →
Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. All but one of the 30 economists surveyed by Reuters last week expected the central bank to hold its benchmark Selic rate at... Continue Reading →
Brazil oilworkers tell Petrobras open-ended strike to start Friday Sept 1,2015 - Reuters Brazil's largest oil-workers' union advised Petroleo Brasileiro SA that it plans to begin a open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40 percent in... Continue Reading →
Brazil’s real fell to a fresh 12-year low and led losses among major currencies as a projected deficit in 2016 added to speculation that the nation will slip to a junk credit rating. The real depreciated 1.8 percent to 3.6875 per dollar at 3:36 p.m. in Sao Paulo, the weakest level on a closing basis... Continue Reading →
Bonds | Tue Sep 1, 2015 11:27am EDT Reuters UPDATE 1-Brazil reinstates IOF tax on state bank BNDES loans (Reuters) - The Brazilian government on Tuesday reinstated a 1.5 percent financial transaction tax on loans from state development bank BNDES , part of efforts to discourage subsidized lending and narrow the country's swelling budget deficit.... Continue Reading →
Brazil Energy Insight 