Petrobras Looks Fully Priced The hobbled Brazilian oil giant’s stock accurately reflects some good news and the substantial risks it still faces. By DIMITRA DEFOTIS / Barron's April 25, 2015 12:03 a.m. ET Bad news has become good news for Brazil’s Petrobras. Otherwise known as Petróleo Brasileiro (ticker: PBR), the state-controlled oil producer and refiner has... Continue Reading →
Fitch warns it may still downgrade Petrobras in next few years
Fri Apr 24, 2015 11:51am EDT Fitch warns it may still downgrade Petrobras in next few years RIO DE JANEIRO, APRIL 24 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA avoided an imminent credit downgrade by publishing corruption-delayed financial statements but could still have its ratings cut in the next couple of years, Fitch... Continue Reading →
UPDATE 2-Four Petrobras platforms halt output due to oil leak -union
Fri Apr 24, 2015 12:44 pm EDT UPDATE 2-Four Petrobras platforms halt output due to oil leak -union (Reuters) - Four Petrobras oil platforms off the northeast coast of Brazil have halted production after a leak of about 7,000 liters of oil was detected coming from a pipeline linking them, a local oil workers union... Continue Reading →
Petrobras puts chief’s pragmatism to test as woes mount
http://www.ft.com/cms/s/0/d9515292-ea7e-11e4-a701-00144feab7de.html#ixzz3YFVrrVnB WEEK IN REVIEW April 24, 2015 4:25 pm Petrobras puts chief’s pragmatism to test as woes mount Joe Leahy in São Paulo/FT ©Reuters Aldemir Bendine In an interview in 2009, Aldemir Bendine, then head of Banco do Brasil, Brazil’s biggest bank, was asked about his favourite piece of wisdom. “The pessimist complains about the wind;... Continue Reading →
Brazil’s Finance Minister is working to restore confidence
Economist Learns Politics to Save Brazil’s President Brazil's Finance Minister is working to restore confidence By Raymond Colitt/Bloomberg 12:00 AM BRT April 24, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Michael Nagle/Bloomberg Brazilian Finance Minister Joaquim Levy got his economics training at... Continue Reading →
Petrobras Erases Corruption Probe Losses After Audited Results
Petrobras Erases Corruption Probe Losses After Audited Results By Julia Leite/Bloomberg 11:45 AM BRT April 24, 2015 Petroleo Brasileiro SA wiped out the stock plunge sparked by Brazil’s largest kickback investigation after releasing long-delayed earnings. The state-controlled oil driller rose as much as 6.7 percent to 13.78 reais on Friday, erasing losses accumulated since Nov.... Continue Reading →
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales By Sabrina Valle / Bloomberg 11:31 AM BRT April 24, 2015 Petrobras, the world’s most indebted oil producer, may sell stakes in some assets via initial public offerings as part of a wider effort to boost cash levels and improve its financial health. “Our role here is... Continue Reading →
Petrobras struggles with losses as probe drags on
http://www.ft.com/cms/s/0/7324c094-e975-11e4-b863-00144feab7de.html#ixzz3YEdwiwE4 Last updated: April 23, 2015 5:57 pm Petrobras struggles with losses as probe drags on Joe Leahy and Samantha Pearson in São Paulo/FT ©Reuters Aldemir Bendin says Petrobras is not going to take the corruption scandal lying down For a tense period on Wednesday evening, those gathered for the press conference of Brazil’s corruption-plagued Petrobras began to... Continue Reading →
Brazil’s Petrobras board to review 1st-qtr results on May 15
Fri Apr 24, 2015 8:04 am EDT Brazil's Petrobras board to review 1st-qtr results on May 15 SAO PAULO The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER (Reuters) - Brazil's state-run oil producer Petroleo Brasileiro SA (PETR4.SA), known as Petrobras, said in a securities... Continue Reading →
Foreign borrowers wary of dollar rise
http://www.ft.com/cms/s/0/b1bdbd7c-e918-11e4-b7e8-00144feab7de.html#ixzz3YENesfgm Last updated: April 23, 2015 3:50 pm Foreign borrowers wary of dollar rise Elaine Moore and Roger Blitz ©Bloomberg China offered investors a cautionary tale this week of what can happen when a company borrows heavily in dollars. On Monday, Kaisa Group became the first Chinese property developer to default on its dollar-denominated bonds as a housing... Continue Reading →
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