Toshiba Executive Called to Brazil Congress Probe of Petrobras By Anna Edgerton Juan Pablo Spinetto/Bloomberg 5:56 PM BRT May 14, 2015 A Toshiba Corp. official was among several company executives called to testify to a congressional committee investigating Brazil’s largest corruption scandal. Luis Carlos Borba, president of Toshiba America do Sul Ltda. will be asked to explain... Continue Reading →
In Oil, Aberdeen Struggles With Price, Output
In Oil, Aberdeen Struggles With Price, Output Cost of production from North Sea is rising and jobs are disappearing Sean Murphy, an Aberdeen oil-rig supervisor, has been looking for work for months. PHOTO: JO HANLEY FOR THE WALL STREET JOURNAL By GEORGI KANTCHEV/WSJ May 14, 2015 1:43 p.m. ET ABERDEEN, Scotland—When he was laid off in December, Sean... Continue Reading →
Pemex Scraps Third Paragon Offshore Rig Contract as Woes Mount
Pemex Scraps Third Paragon Offshore Rig Contract as Woes Mount by Adam Williams Andrea Navarro/Bloomberg 4:40 PM BRT May 14, 2015 Petroleos Mexicanos abandoned a third rig contract with Paragon Offshore Plc this week as the state-owned oil producer reduces spending after prices collapsed. Paragon received notice this week that Pemex will return the L781... Continue Reading →
Brazil president says to maintain oil rules, national content
Thu May 14, 2015 2:06pm EDT Brazil president says to maintain oil rules, national content RIO DE JANEIRO/Reuters May 14 Brazilian President Dilma Rousseff said on Thursday that her government will maintain rules that mandate production-sharing contracts for the country's most promising areas and high national content requirements for the oil industry. "The local... Continue Reading →
Brazil: Oily mess
http://www.ft.com/cms/s/0/fc43ddc6-f94f-11e4-be7b-00144feab7de.html#ixzz3a8zJDLZN May 14, 2015 7:30 pm Brazil: Oily mess Joe Leahy/FT A multi-billion dollar bribery scandal at Petrobras has shaken the ruling Workers’ party and former president Lula da Silva In Brazil’s hyper-consumerist society, people are accustomed to paying for everything in instalments, from fridges and televisions to silicon breast implants. But less commonly known... Continue Reading →
Oil Servicers ‘Ugly’ Second Quarter Seen as Prompting Mergers
Oil Servicers ‘Ugly’ Second Quarter Seen as Prompting Mergers By David Wethe/Bloomberg 9:30 AM BRT May 14, 2015 Deals among oil service companies trying to survive a collapse in crude prices are expected to pick up in the second half of the year as profits in the sector hit a low point. Demand for drilling,... Continue Reading →
Brazilian Real Advances as Fed Outlook Overshadows Levy Setback
Brazilian Real Advances as Fed Outlook Overshadows Levy Setback by Paula Sambo/Bloomberg 10:15 AM BRT May 14, 2015 i Brazil’s real led gains among major currencies as speculation the Federal Reserve will keep interest rates near zero overshadowed a setback in Finance Minister Joaquim Levy’s spending cut efforts. The real rose 1 percent to 3.0087 per... Continue Reading →
Petrobras to use Edison Chouest offshore base at Brazil’s Açu port
Wed May 13, 2015 5:00pm EDT Petrobras to use Edison Chouest offshore base at Brazil's Açu port RIO DE JANEIRO/Reuters May 13 Brazil's state-run oil company Petrobras will use offshore docks operated by U.S. ship-leasing company Edison Chouest to handle oil-service vessels at the Brazilian Port of Açu, the head of the company that owns... Continue Reading →
Petrobras scandal looms large in Shell’s plan to buy BG Group
http://www.ft.com/cms/s/0/32ab70fe-e2c1-11e4-bf4b-00144feab7de.html#ixzz3a6gH1A1D May 14, 2015 11:08 am Petrobras scandal looms large in Shell’s plan to buy BG Group Joe Leahy in São Paulo, Jamie Smyth in Sydney, Christopher Adams in London/FT ©Getty As Royal Dutch Shell seeks to finalise its £55bn takeover of smaller UK-based rival BG Group, it will be closely watching the situation at Petrobras, Brazil’s state-controlled oil company that... Continue Reading →
Brazil Congress Upsets Levy Measures With Push to Boost Pensions
Brazil Congress Upsets Levy Measures With Push to Boost Pensions By Raymond Colitt Arnaldo Galvao/Bloomberg 7:44 PM BRT May 13, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Photographer: Michael Nagle/Bloomberg Brazil’s lower house approved an amendment that raises benefits for pensioners,... Continue Reading →
Brazil Energy Insight 