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Local press reports that YPF plus 3 other energy groups in Argentina, Pan American Energy (Chinese), Tecpetrol (Techint) and Pluspetrol, have made offer for the purchase of the Petrobras assets in Argentina which include drilling rights, refineries and a chain of gas stations. Decision of proposal should be as soon as next week.
Brazil's state-run oil company Petrobras hopes to boost the crude processing capacity of its newest refinery 62 percent to as much as 120,000 barrels per day (bpd) in the second half of this year, the company's refining chief said Wednesday. Petroleo Brasileiro SA plans to start testing higher processing levels at the Abreu e Lima,... Continue Reading →
Brazil poses a larger threat of contagion for global financial markets than other emerging economies, far eclipsing Russia and China, Fitch Ratings said on Wednesday, giving highlights of an upcoming survey of European fixed-income investors. The investors, who manage an estimated 7.8 trillion euros in assets, considered economic imbalances, political challenges and U.S. interest rates... Continue Reading →
Brazil has a “For Sale” sign in its front yard. Saddled with debt and an economic downturn, companies from builders to miners are opening their doors to bargain hunters. The government, aiming to win back investors and stave off a ratings downgrade, may back as much as 20 billion reais ($6.3 billion) in IPOs by... Continue Reading →
Two workers died at a construction project at a Brazilian oil terminal operated by state-run Petrobras on Tuesday, adding to a string of fatal and life-threatening accidents, a union representing oil workers said in a statement. A FUP affiliate known as SindipetroNF also said on Tuesday that there was a fire on the P-53 offshore... Continue Reading →
Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff's austerity push won't fully offset plunging government revenues. As Brazil prepares for a crucial ratings review by Moody's Investors Service in the third quarter, members of Rousseff's economic... Continue Reading →
| Wed Jul 8, 2015 8:28am EDT Fitch: Europe Credit Investors See EM Risk Contagion via Brazil (The following statement was released by the rating agency) LONDON, July 08 (Fitch) European credit investors see more possibility of contagion from emerging market risks via Brazil than other major emerging markets (EMs), according to Fitch Ratings' latest... Continue Reading →
The economic and political crisis now engulfing Latin America's biggest economy is prompting politicians, economists and ordinary Brazilians to consider what once seemed unthinkable: that President Dilma Rousseff, re-elected less than nine months ago, might not finish her second term, which runs to 2018. Read More
Royal Dutch Shell Plc obtained regulatory approval from Brazil to buy BG Group Plc, clearing another antitrust hurdle to completing the $70 billion acquisition. Read More
Eight companies were invited to consider the purchase of up to 49% of Gaspetro, the distribution company that holds the natural gas assets of Petrobras, but the dispute should be between Japan's Mitsui and China's Beijing Gas. It is still early to say, but Mitsui has been identified by the market as the most interested in these... Continue Reading →
Brazil Energy Insight 