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Brazilian President Dilma Rousseff’s approval rating decreased in a poll conducted by Ibope amid a shrinking economy and a growing corruption scandal. The president’s administration approval rating on June 18-21 was 15 percent compared with 19 percent in the previous poll in March, according to Ibope. Contracted by the National Confederation of Industry, the survey... Continue Reading →
Two Chinese companies that entered Brazil’s giant deep-water oilfields two years ago are now looking to increase their presence as state-run Petrobras sells assets to pay down debt, said two people with knowledge of the matter. China Petroleum & Chemical Corp., or Sinopec, and Cnooc Ltd. are among companies interested in buying stakes in so-called... Continue Reading →
Brazilian state-run oil company Petroleo Brasileiro SA's long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. Petrobras has not met an annual production target since 2003 when the Workers' Party government of Brazilian President Dilma Rousseff and her predecessor... Continue Reading →
Fitch Ratings cut the ratings on Brazilian builders Odebrecht Engenharia e Construcao SA and Construtora Andrade Gutierrez SA as the nation’s largest corruption probe continues to widen. Odebrecht Engenharia was downgraded to BBB-, the lowest level of investment grade, while Andrade Gutierrez was cut to junk at BB+. Both ratings have a negative outlook, Fitch... Continue Reading →
Clarification on News: Sale of Ships 06/29/2015 Rio de Janeiro, June 29th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter n.º 204/2015/CVM/SEP/GEA-1 which requests clarification, as below: OFFICIAL LETTER n.º 204/2015/CVM/SEP/GEA-1 “We referred to news released on this date, in the newspaper “Valor Online”, entitled: “Petrobras negotiates the sale of 23 ships,... Continue Reading →
Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry. Brazil and Iraq had been expected to add over... Continue Reading →
Brazil posted its widest budget deficit before interest payments of the year last month as slower growth erodes tax collection. The real strengthened 0.7 percent to 3.0961 per U.S. dollar at 10:40 a.m. local time. Read More
Attached is the English version of the press presentation of the 2015-2019 Petrobras Business Plan petrobras business plan press presentation
Technip selected by Jurong Shipyard Pte Ltd for a FPSO conversion contract Leveraging its expertise in mastering design of all platform types June 30, 2015 01:00 AM Eastern Daylight Time PARIS--(BUSINESS WIRE)--Regulatory News: Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. The project is... Continue Reading →
Crude oil’s plunge is leaving drilling rigs idle from Africa to Latin America as the world’s biggest energy companies curtail spending and stall projects. Their smaller rivals are seizing the opportunity to gain ground. Read More
Brazil Energy Insight 