Fri Apr 17, 2015 6:21pm EDT Fitch warns of rising litigation risks at Brazilian banks SAO PAULO, APRIL 17 (Reuters) - Brazilian banks face rising risks of litigation due to an anti-corruption investigation of the country's tax appeal board CARF, adding to a wave of legal cases that could threaten lenders' bottom lines, Fitch Ratings... Continue Reading →
UPDATE 1-Petrobras says covers 2015 financial needs with loans, sale
Fri Apr 17, 2015 7:02pm EDT UPDATE 1-Petrobras says covers 2015 financial needs with loans, sale (Recast with details of the operation, Petrobras comment and context) (Reuters) - Brazil's Petrobras said on Friday it approved 18.6 billion reais ($6.12 billion) in credit and sale operations to meet its financing needs as the state-run oil giant... Continue Reading →
Petrobras – Material Fact – Loan Contracts and Divestment Plan
Petrobras - Material Fact - Loan Contracts and Divestment Plan Rio de Janeiro, April 17, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that concluded negotiations on the following loan contracts: · R$ 4.5 billion export note with Banco do Brasil through its subsidiary BR Distribuidora for a 6-year period. · R$ 2 billion standby... Continue Reading →
Hedge Funds Aurelius, Alden Oppose OAS Creditor-Protection Bid
Hedge Funds Aurelius, Alden Oppose OAS Creditor-Protection Bid By Boris Korby/Bloomberg 3:38 PM BRT April 17, 2015 Share on FacebookShare on Twitter Hedge funds Aurelius Capital Management LP and Alden Global Capital LLC objected to efforts by the bankrupt Brazilian construction company OAS SA to halt lawsuits against it in the U.S. OAS, which filed... Continue Reading →
UPDATE 2-Brazil’s Schahin says 28 units file for bankruptcy protection
Fri Apr 17, 2015 12:48pm EDT UPDATE 2-Brazil's Schahin says 28 units file for bankruptcy protection By Guillermo Parra-Bernal (Reuters) - Twenty-eight units of Brazilian engineering firm Grupo Schahin filed forbankruptcy protection on Friday as a corruption scandal at key client Petróleo Brasileiro SA hampered efforts to refinance up to 6.5 billion reais ($2.1 billion) in... Continue Reading →
The fall in the oil price has not curbed fracking nearly as much as expected
Oil prices Unconventional but normal The fall in the oil price has not curbed fracking nearly as much as expected Apr 18th 2015 | From the print edition The Economist WHEN the oil price crashed last year, many assumed that the earliest casualties would be the small, nimble American companies that specialise in getting “unconventional” oil out... Continue Reading →
Statoil Chief Say More Oil Deals Likely After Shell-BG Merger
Statoil Chief Say More Oil Deals Likely After Shell-BG Merger By William Kennedy/Bloomberg 1:25 PM BRT April 17, 2015 The chief executive officer of Norway’s largest oil producer said the industry will probably see more deals after Royal Dutch Shell Plc’s $70 billion to BG Plc, especially if crude prices remain depressed. “All player are... Continue Reading →
Petrobras Supplier Schahin Seeking Brazil Bankruptcy Protection
Petrobras Supplier Schahin Seeking Brazil Bankruptcy Protection By Francisco Marcelino/Bloomberg 12:57 PM BRT April 17, 2015 Grupo Schahin filed for Brazil’s equivalent of Chapter 11, becoming the latest Petroleo Brasileiro SA contractor to seek protection from creditors as a corruption probe and a rout in oil prices limit access to funding. Schahin, which owns building... Continue Reading →
Shell Said to Hire Barclays to Arrange $15 Billion BG Loan
Shell Said to Hire Barclays to Arrange $15 Billion BG Loan By Stephen Morris/Bloomberg 10:51 AM BRT April 17, 2015 Royal Dutch Shell Plc hired Barclays Plc to help arrange a 10 billion pound ($15 billion) loan to help fund its purchase of BG Group Plc, two people with knowledge of the matter said. The... Continue Reading →
Petrobras – Oil and natural gas output for March
Petrobras - Oil and natural gas output for March Rio de Janeiro, April 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its oil and natural gas output in Brazil and abroad, in March 2015, was 2,764,000 barrels of oil equivalent per day (boed), down 1.3% from February 2015 (2,801,000 boed). Of this total,... Continue Reading →
