Alfa, Harbour to Buy Pacific Rubiales in $1.7 Billion Deal by James Paton/Bloomberg 1:36 AM BRT May 21, 2015 Alfa SAB and Harbour Energy Ltd. agreed to acquire Pacific Rubiales Energy Corp. in a deal that values Latin America’s largest non-state oil producer at about C$2.1 billion ($1.7 billion). The companies agreed to pay C$6.50... Continue Reading →
Transocean Joins Halliburton in BP Deal Resolving Macondo Claims
Transocean Joins Halliburton in BP Deal Resolving Macondo Claims by David Wethe/Bloomberg 5:59 PM BRT May 20, 2015 Transocean Ltd., owner of the rig that sank in the 2010 Macondo disaster in the Gulf of Mexico, joined Halliburton Co. in settling all remaining issues with BP Plc, according to a person familiar with the deal.... Continue Reading →
Exxon Mobil Says Oil Discovery Off Guyana Is ‘Significant’
Exxon Mobil Says Oil Discovery Off Guyana Is 'Significant' By THE ASSOCIATED PRESS MAY 20, 2015, 4:52 P.M. E.D.T.NYT GEORGETOWN, Guyana — Exxon Mobil Corp. confirmed Wednesday that it has made what it calls a "significant" oil discovery off Guyana in waters also claimed by Venezuela as part of a long-running border dispute between the South... Continue Reading →
Petrobras Turns to China for $10 Billion to Avert Cash Crunch
Petrobras Turns to China for $10 Billion to Avert Cash Crunch by Juan Pablo Spinetto Sabrina Valle/Bloomberg 3:43 PM BRT May 20, 2015 What do you do when you’re burdened with the oil industry’s biggest debt, credit is drying up and some of your main suppliers are under the gun? Call China. Brazilian President Dilma... Continue Reading →
Oil market buoyed by product demand
http://www.ft.com/cms/s/0/83bc066a-fedd-11e4-94c8-00144feabdc0.html#ixzz3ahoYFLnD May 20, 2015 6:42 pm Oil market buoyed by product demand Anjli Raval and Neil Hume/FT ©Bloomberg The oil market is coping with storage capacity limits because demand for products such as petrol has been unexpectedly strong, says a senior executive at the world’s biggest independent oil trader. Demand growth was “back up to 1.4-1.5m barrels... Continue Reading →
For Petrobras, ‘Oils’ Not So Well For Drilling Partners
5/17/2015 @ 12:16PM For Petrobras, 'Oils' Not So Well For Drilling Partners Kenneth Rapoza/Forbes Petrobras needs heavy equipment, like entire offshore production vessels, to get at its oil deep under the Atlantic Ocean floor. Credit problems at partner firms, and delays on its floating production storage and offshoring projects means production figures probably won’t look as good... Continue Reading →
Petrobras – Clarification on News: Revision of the Transfer of Rights Agreement
Petrobras - Clarification on News: Revision of the Transfer of Rights Agreement Rio de Janeiro, May 20, 2015 – Petróleo Brasileiro S.A. – Petrobras, in relation to news released in the media regarding the value of the revision of the Transfer of Rights Agreement clarifies: The Transfer of Rights Agreement, signed between Petrobras and the... Continue Reading →
Petrobras – Funding Agreement of USD 5 billion with China Development Bank Corporation
Petrobras - Funding Agreement of USD 5 billion with China Development Bank Corporation Rio de Janeiro, May 20, 2015 - Petróleo Brasileiro SA - Petrobras informs that it has signed yesterday with China Development Bank Corporation- CDB a cooperation agreement for the years 2015 and 2016. This agreement includes funding of $ 3.5 billion, already... Continue Reading →
Grupo Alfa close to $6.5bn buyout of Pacific Rubiales
http://www.ft.com/cms/s/0/7a3248b8-feb8-11e4-84b2-00144feabdc0.html#ixzz3agqKEe5d May 20, 2015 12:33 pm Grupo Alfa close to $6.5bn buyout of Pacific Rubiales Henny Sender/FT ©Bloomberg/Susana Gonzalez Pacific Rubiales, the largest independent oil producer in Latin America, is set to be acquired by Grupo Alfa and Harbour Energy in what would be the region’s biggest-ever private equity deal. The all-cash deal, which could... Continue Reading →
Brazil’s Real Advances as Levy’s Fiscal Measures Clear a Hurdle
Brazil’s Real Advances as Levy’s Fiscal Measures Clear a Hurdle by Paula Sambo/Bloomberg 10:09 AM BRT May 20, 2015 Brazil’s real climbed for the first time in four days as a vote by lawmakers supported Finance Minister Joaquim Levy in his effort to reduce budget deficits and preserve the nation’s investment-grade status. The currency gained... Continue Reading →
Brazil Energy Insight 