Brought to you by Quest Offshore & Southern Cone Consultants
Schlumberger Ltd. agreed to buy Cameron International Corp. for $14.8 billion, allowing the world’s largest oilfield-services provider to bundle its services and gear more effectively. Cameron stockholders will receive 0.716 Schlumberger shares and a cash payment of $14.44 in exchange for each Cameron share, according to a regulatory statement on Wednesday. The deal valued at... Continue Reading →
Reuters Brazil real weakens to 3.6 per dollar for 1st time in 12 years Aug 25 The Brazilian real slid 1.5 percent late on Tuesday and crossed the psychologically important level of 3.6 per dollar for the first time in more than 12 years as traders worried about a growing political crisis in Latin America's... Continue Reading →
Brazil’s electoral court will vote late on Tuesday whether to open hearings into allegations President Dilma Rousseff illegally financed her re-election campaign, charges that could provide grounds for her removal from office. A petition with the court filed by the opposition party PSDB alleges that Rousseff and her Vice-President Michel Temer used more money than... Continue Reading →
Brazil’s current account gap widened less than analysts forecast as a weaker real and a shrinking economy reduces imports. The deficit in the current account, the broadest measure of trade in goods and services, widened to $6.2 billion in July from a revised $2.6 billion a month earlier, the central bank said in a report... Continue Reading →
Petroleo Brasileiro SA, the state-controlled oil producer with $55 billion of overseas bonds, is among the Brazilian companies most at risk of seeing leverage ratios swell as the real posts the world’s biggest currency losses. For Petrobras, the electric utility known as Eletrobras, airline Gol Linhas Aereas Inteligentes SA and mall operator General Shopping Brasil... Continue Reading →
Non-resident holdings of local notes have dropped to the lowest level this year amid growing speculation that President Dilma Rousseff won’t be able to fulfill promises to reduce government spending and shore up finances. Her pledge Monday to shut down 10 ministries and sell properties to raise cash failed to reverse a selloff in risky... Continue Reading →
State-controlled Petróleo Brasileiro SA is growing uneasy with some aspects of the business reorganization of ailing oil-drilling-rig builder Sete Brasil Participações SA, a situation that may pose risks on the refinancing of $3.8 billion in debt, two sources said on Monday. Officials at Petrobras, as the oil company is known, are questioning technical aspects of... Continue Reading →
In a sign of just how distressed the Chinese market has become, traders are more bearish on the yuan than they are on the currency of Argentina, a country which suffers from a bond default, a stagnant economy and the second-highest inflation in the world. Costs to protect against further declines in the yuan, as... Continue Reading →
Brazilian Vice President Michel Temer has decided to drop his role as day-to-day political coordinator in Congress for President Dilma Rousseff but is not leaving her government, a source in the administration said on Monday. Temer is an important ally of the embattled Rousseff and his decision will further hamstring the unpopular president, who is... Continue Reading →
Oil and gas producers dropped to their lowest level in almost four years as collapsing markets in China heightened concern that demand will falter in the world’s second-largest destination for crude, aggravating a glut from North American shale and the Persian Gulf. An index of 40 energy explorers declined 3.7 percent at 10:30 a.m. in... Continue Reading →
Brazil Energy Insight 