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Petrobras Earnings Beat Estimates After Fuel Price Increase By Sabrina Valle/Bloomberg 6:07 PM BRT May 15, 2015 Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, reported first-quarter earnings excluding items that beat analysts’ estimates. Adjusted earnings before interest, taxes, depreciation and amortization, or Ebitda, rose to 21.5 billion reais ($7.2 billion) in the first three months... Continue Reading →
Rousseff Said to Study Brazil Budget Freeze With Cabinet Sunday by Carla Simoes/Bloomberg 4:37 PM BRT May 15, 2015 Brazilian President Dilma Rousseff is scheduled to meet with cabinet members on Sunday to discuss how much spending to freeze from this year’s budget, a person close to the government’s economic team said. The gathering comes... Continue Reading →
http://www.ft.com/cms/s/0/cf03ef60-fad8-11e4-84f3-00144feab7de.html#ixzz3aEwAPdNV May 15, 2015 1:59 pm Hedge funds loom large in oil price moves David Sheppard and Neil Hume/FT A floating production vessel heads for the Sapinhoa oilfield in Brazil's Santos Basin Forget the interplay between supply and demand. When it comes to oil prices, hedge funds and speculators are exerting an uncommonly large influence, say... Continue Reading →
Are markets too bearish on Brazil’s currency? Mark Schaltuper, BMI Research | May 15 17:26 /FT Brazil’s economy – as beyondbrics readers know – is in serious trouble, and the unorthodox policies of the country’s embattled president, Dilma Rousseff, have been major contributors to the Brazilian real’s sharp depreciation. But as an analyst who has a long-held... Continue Reading →
Petrobras Results in Focus as Ibovespa Futures Join Global Gain By Julia Leite/Bloomberg 9:48 AM BRT May 15, 2015 Ibovespa futures joined gains in global shares as investors awaited Petroleo Brasileiro SA’s first-quarter earnings. Petrobras, embroiled in a corruption scandal that stumped executives and accountants for months as they struggled to tally costs related to... Continue Reading →
Petrobras / New record in the “pre-salt” production Rio de Janeiro, May 12th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that oil production at fields operated by the Company in the province of the “pre-salt” in Santos and Campos basins reached 800 thousand barrels of oil per day (bdp) on April 11th, 2015, setting... Continue Reading →
Thu May 14, 2015 5:06pm EDT Brazil prosecutors say Petrobras scheme moved $2.1 billion in bribes SAO PAULO/Reuters The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Brazilian investigators believe 6.19 billion reais ($2.1 billion) in bribes were moved in a corruption scheme involving state-run... Continue Reading →
Rousseff Takes Political Hit on Brazil Spending With Long Fuse By Raymond Colitt Arnaldo Galvao/Bloomberg 7:30 PM BRT May 14, 2015 Brazil’s Supreme Court on Friday gave the green light to investigate the heads of both houses of Congress while ruling out a probe into President Dilma Rousseff in the country’s largest corruption scandal. Photographer:... Continue Reading →
Brazil Charges First Lawmakers in Petrobras Graft Probe The former members of congress are accused of money laundering, embezzlement and other crimes Adir Assad (second left), Sonia Mariza Branco (third left, bottom), Lucelio Goes (top center) and former Petrobras executive Renato Duque (second right) are escorted by federal police as they leave the Institute of... Continue Reading →
For Big Oil, the Party’s Over in Alberta An election win by liberals strikes fear into the heart of Canada’s oil industry By Jeremy Van Loon/Bloomberg 6:23 PM BRT May 14, 2015 There’s a reason they call Alberta the Texas of the North. The province is home to Canada’s oil industry and produces more than... Continue Reading →
Brazil Energy Insight 