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Levy Faces Biggest Test With Time Running Out in Brazil Congress By Raymond Colitt Arnaldo Galvao / Bloomberg 12:01 AM BRT May 12, 2015 Government spending on unemployment insurance in Brazil has more than tripled since 2003, contributing to widening public debt. Brazil’s Finance Minister Joaquim Levy is up against a ticking clock to convince... Continue Reading →
Big Oil Remains Interested in Colombia Shale, Minister Says By Andrew Willis Andrea Jaramillo/Bloomberg 5:21 PM BRT May 11, 2015 Colombia sees at least two shale projects starting development this year, with Royal Dutch Shell Plc and Exxon Mobil Corp. maintaining their interest despite a slump in prices. “What we’re seeing in the shale area is that... Continue Reading →
U.S. Conditionally Approves Shell Arctic Drilling Plan Company aims to begin drilling in Arctic Ocean this summer Royal Dutch Shell hopes to use this oil rig for exploratory drilling in the Chukchi Sea, off the West Coast of Alaska. PHOTO: DANIELLA BECCARIA/ASSOCIATED PRESS By AMY HARDER And CASSANDRA SWEET/WSJ Updated May 11, 2015 4:14 p.m. ET The U.S. government... Continue Reading →
Noble’s Rosetta Deal Is OPEC’s Problem Deals and financing are putting off a shakeout in the U.S. oil sector Work at a drilling rig in Texas is seen here. Noble Energy’s announced acquisition of Rosetta Resources does little to support oil prices in the near term. PHOTO: BRITTANY SOWACKE/BLOOMBERG NEWS By LIAM DENNING/WSJ May 11,... Continue Reading →
Levy Said to Seek Bigger Spending Freeze Than Brazil Budget Head By Mario Sergio Lima Carla Simoes/Bloomberg 3:25 PM BRT May 11, 2015 Brazil’s Finance Minister Joaquim Levy is seeking to freeze as much as 17 billion reais ($5.6 billion) more from this year’s budget than Budget Minister Nelson Barbosa, according to a government official... Continue Reading →
http://www.ft.com/cms/s/0/20758ab8-f7c6-11e4-8bd5-00144feab7de.html#ixzz3Zr7y9noy EM SQUARED May 11, 2015 1:32 pm Saudi Arabia will stick to non-intervention as oil prices rise Dan Bogler Next month’s Opec meeting likely to leave current output quotas in place while it lets market work ©AFP As oil prices halved last year, investors and traders kept expecting Saudi Arabia to intervene. It took... Continue Reading →
Witness Repeats Allegations Against Politicians in Petrobras Inquiry Rousseff, Lula da Silva named in connection with alleged corruption at Petrobras Alberto Youssef, a witness in Brazil’s investigation into alleged corruption at state-owned oil company Petrobras, is escorted by federal policemen before a hearing at the federal court in Curitiba in February. PHOTO: REUTERS By LUCIANA MAGALHAES And WILL... Continue Reading →
Brazil Real Leads Global Drops as Greece Damps Emerging Markets by Paula Sambo/Bloomberg 10:16 AM BRT May 11, 2015 Brazil’s real fell the most among global currencies as concern European finance ministers will struggle to agree on aid for Greece damped demand for emerging-market assets. The currency tumbled 2.2 percent to 3.0403 per U.S. dollar... Continue Reading →
OPEC Sees Oil Price Below $100 a Barrel in the Next Decade Pessimistic Assessment May Mean That the Oil Cartel Returns to Production Quotas By BENOÎT FAUCON and SUMMER SAID/WSJ May 11, 2015 8:23 a.m. ET VIENNA—The Organization of the Petroleum Exporting Countries doesn’t see oil prices consistently trading at $100 barrel again in the next... Continue Reading →
Fri May 8, 2015 6:36pm EDT Petrobras says it plans lawsuits to recoup $440 mln in graft RIO DE JANEIRO/Reuters May 8 Brazil's state-run oil company Petroleo Brasileiro SA plans to sue five construction and engineering firms and their senior executives to recover about 1.3 billion reais ($440 million) lost in a corruption scandal, the... Continue Reading →
Brazil Energy Insight 