Petrobras Bondholders’ Doomsday Scenario Averted With Earnings By Julia Leite Paula Sambo / Bloomberg 8:07 PM BRT April 23, 2015 For bond investors, the release of Petroleo Brasileiro SA’s audited earnings means a potential disaster was averted: a default with the potential to put billions of dollars of debt repayments in limbo. That still doesn’t... Continue Reading →
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss By Anna Edgerton / Bloomberg 12:00 AM BRT April 24, 2015 Petrobras’s massive writedowns this week answer the question about the cost of its corruption and pose a much bigger one: whether the state-run driller can restore its role as Brazil’s economic anchor and... Continue Reading →
UPDATE 1-Shell’s Brazil strategy factors in Petrobras scandal
Thu Apr 23, 2015 2:04 pm EDT UPDATE 1-Shell's Brazil strategy factors in Petrobras scandal -CEO By Anthony Boadle (Reuters) - Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's... Continue Reading →
Halliburton’s Asset Sales Attracting Caterpillar to GE
Halliburton’s Asset Sales Attracting Caterpillar to GE By Matthew Monks / Bloomberg 5:40 PM BRT April 23, 2015 The largest industrial companies in the world, from Caterpillar Inc. to Honeywell International Inc., are about to get a rare chance to go big on oil. They’re among more than half a dozen manufacturers -- including Siemens... Continue Reading →
Petrobras Opens Door to 2015 Dollar Bond; Rules Out Share Sale
Petrobras Opens Door to 2015 Dollar Bond; Rules Out Share Sale By Sabrina Valle/ Bloomberg 3:30 PM BRT April 23, 2015 Petroleo Brasileiro SA could return to the dollar-bond market as soon as this year after a corruption scandal all but closed off credit markets to Brazil’s national oil company, Chief Financial Officer Ivan Monteiro... Continue Reading →
Petrobras: Still Working at the Car Wash
Petrobras: Still Working at the Car Wash The Brazilian oil major’s mammoth write off doesn’t address bigger challenges around its debt burden. A Petrobras refinery. The company’s delayed 2014 results included nearly $17 billion in write-downs. PHOTO: NELSON ALMEIDA/AGENCE FRANCE-PRESSE/GETTY IMAGES By LIAM DENNING/WSJ April 23, 2015 1:50 p.m. ET Petrobras is emerging from its car wash looking... Continue Reading →
Is Petrobras Out Of The Woods Yet?
4/23/2015 @ 1:52PM Is Petrobras Out Of The Woods Yet? Kenneth Rapoza/Forbes Petrobras is the little engine that could right now. Investors who bought when the guys on CNBC were telling you nobody is buying Petrobras are now up nearly 50% in just six weeks. Booyah! After months of waiting, we have earnings. They are bad. The company lost... Continue Reading →
Shell Sees Petrobras Emerging Stronger From Corruption Scandal
Shell Sees Petrobras Emerging Stronger From Corruption Scandal By Mario Sergio Lima Rachel Gamarski /Bloomberg 1:07 PM BRT April 23, 2015 Royal Dutch Shell Plc, poised to become Brazil’s biggest oil producer after Petroleo Brasileiro SA, said the state-run driller will emerge strengthened from a corruption scandal and the industry’s biggest debt load. Speaking to... Continue Reading →
Petrobras takes $17 billion charge in wake of scandal, promises ‘normality’
Wed Apr 22, 2015 10:09 pm EDT Petrobras takes $17 billion charge in wake of scandal, promises 'normality' RIO DE JANEIRO Petroleo Brasileiro S.A President Aldemir Bendine (C) and his board present the company's 2014 results in Rio de Janeiro April 22, 2015. REUTERS/RICARDO MORAES (Reuters) - Brazilian state-run oil company Petrobras reported its biggest-ever... Continue Reading →
Brazil’s Alleged Petrobras Corruption Not Widespread, Witness Testifies
Brazil’s Alleged Petrobras Corruption Not Widespread, Witness Testifies Losses related to alleged scheme and overvalued assets reported in company’s 2014 earnings By ROGERIO JELMAYER And JEFFREY T. LEWIS / WSJ April 23, 2015 12:10 p.m. ET SÃO PAULO—The alleged corruption scheme at Brazil’s state-controlled oil company,Petroleo Brasileiro SA, was limited to three top executives and... Continue Reading →
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