Brazil’s relentless series of interest rates hikes is successfully lowering inflation expectations – despite recent signs to the contrary, from lottery to tomato prices. Read More
KNOT Offshore Partners LP Announces Completion of the Acquisition of Dan Sabia under contract with Petrobras
KNOT Offshore Partners LP Announces Completion of the Acquisition of Dan Sabia | Business Wire // KNOT Offshore Partners LP Announces Completion of the Acquisition of Dan Sabia June 15, 2015 04:15 PM Eastern Daylight Time ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the "Partnership") (NYSE: KNOP) announced today that it has completed its acquisition of... Continue Reading →
Statoil to cut 2,000 jobs
Statoil ASA, Norway’s state-controlled oil producer, will cut as many as 2,000 more jobs by the end of next year as it reacts to lower crude prices by slashing costs. Read More
The Sigelman-PetroTiger Foreign-Bribery Case, US Justice Dept. Stumbles
Joseph Sigelman, the founder and former chief executive of a Colombian oil field-services provider called PetroTiger, pleaded guilty to conspiring to pay bribes to an official of the Colombian national oil company in violation of the Foreign Corrupt Practices Act (FCPA). Or that's what the Justice Department emphasized in a triumphant-sounding press announcement listing no... Continue Reading →
OSX Brasil, shipyard of Eike Batista’s EBX Group, surprises and reports small profit for 1st qtr 2015
OSX Brasil, currently in Chapter 11, surprises and reports a first quarter, 2015, profit of R$ 168.9 million against a loss of R$ 2.42 billion for same period last year. Net operating revenue was R$ 275.1 million, a leap of approximately 133% in comparison to last year. Big surprise.
Sikorsky sale or spin off on lower deliveries to the oil and gas industry
Sikorsky’s operating profit will be down as much as $125 million on lower deliveries to the oil-and-gas industry. “We’ll have the decision on spin versus sale done, I think, in about 60 days -- probably by the end of July,” Chief Executive Officer Gregory Hayes told investors on a conference call at the Paris Air... Continue Reading →
JP Morgan Bullish on Petrobras
"Petrobras last month reported earnings that beat analysts’ estimates by 23 percent after a fuel price increase allowed its refining and supply unit to turn a profit for the first time since late 2010. Chief Executive Officer Aldemir Bendine is developing a business plan to reduce the industry’s heaviest debt load and retain an investment-grade... Continue Reading →
Brazil’s ANP plans to publish the 13th Oil Rights Auction Tender by Aug 6th.
Brazil's ANP plans to publish the 13th Oil Rights Auction Tender by Aug 6th. The oil authority plans to keep present local content rule but some politicians and the oil industry are hoping that the authority will rethink the issue and be more flexible. The fear is that if the local content rule is not... Continue Reading →
Petrobras – US$ 1.5 Billion received from the China Development Bank
Petrobras - US$ 1.5 Billion received from the China Development Bank 06/12/2015 Rio de Janeiro, June 12th 2015 - Petróleo Brasileiro S.A. - Petrobras informs that it has received today, through its fully owned subsidiary Petrobras Global Trading BV - PGT, the amount of US$ 1.5 Billion related to the loan signed on May 20th,... Continue Reading →
The Sete Brasil novela continues
June 12, 2015 Latest local press report says that a group of Asian investors are negotiating a U$1.2 billion capital infusion. Not clear whether this will dilute existing shareholders but creditors have agreed. Since some shareholders are also large creditors gives some credibility but still the news are tenuous at best. The report says that... Continue Reading →
Brazil Energy Insight 