Petrobras was leading LatAm credit markets higher on Friday following news that the Brazilian government was considering a plan to inject fresh capital into the beleaguered oil company. The issuer's 2024s were extending Thursday's late-day rally to trade at 83.50-84.00 on Friday, marking a five-point leap for the week. The company's Century bond was up... Continue Reading →
Brazil Said to Study Hybrid Securities for Petrobras
Brazil is studying the possibility of using hybrid securities to boost capital at struggling state-controlled oil producer Petroleo Brasileiro SA, Agencia Estado reported, citing government officials it didn’t name. The operation is being discussed between Brazil’s treasury and Petrobras’s management, and no amount has been defined yet, Estado said. The government and Rio de Janeiro-based... Continue Reading →
Petrobras’s Dangerous Debt Math: $24 Billion Owed in 24 Months
The debt clock is ticking down at Brazil’s troubled oil giant, Petrobras. Next up: $24 billion of repayments over 24 months. That’s a towering hurdle for a company that hasn’t generated free cash flow for eight years and whose borrowing rates are soaring. Annual debt servicing costs have doubled to 20.3 billion reais ($5.4 billion)... Continue Reading →
Petrobras – Export Credit Agencies Funding
11/16/2015 Rio de Janeiro, November 16th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that in line with its strategy of diversifying funding sources, is concluding negotiations the Export Credit Agency (ECA) from Italy – SACE, from the United Kingdom - UK Export Finance (UKEF), from Japan - Nippon Export and Investment Insurance (NEXI) and... Continue Reading →
Don’t Be Fooled by Brazil Calm as Real Still Forecast to Slump
A measure of its volatility has fallen the most among the world’s major currencies in the past month after reaching a four-year high in September. Price swings are abating as calls for President Dilma Rousseff’s impeachment ebb, lessening concern about political chaos in Brazil. Yet analysts say this optimism is overdone and that the momentary... Continue Reading →
LATAM WRAP-Brazil prices swing on talk of Levy departure
Petrobras's poor third-quarter results, weaker oil prices and reports that the Brazilian finance minister may step down sent the country's bonds on another rollercoaster ride on Friday. Petrobras bonds were off the intra-day low Friday afternoon but still as much as 1.5 points down on the day after the state-owned oil company posted a R$3.76bn... Continue Reading →
Petrobras Webcast Presentation 3Q, 2015
Friday 13, 2015 English presentation of the Petrobras Webcast 3Q, 2015 Webcast-3T15-Ingles
Brazil Real Extends Drop as Speculation Heats Up Levy Is Leaving
Newspaper Valor Economico’s real-time news service reported that Rousseff has not yet decided on a replacement for Levy, and there is no set date for his exit. The new minister would not be totally autonomous, the news report says without disclosing how it got the information. The currency also declined as slowing credit growth in... Continue Reading →
Petrobras – 3Q 2015 Results
Rio de Janeiro – November 12, 2015 - THIRD QUARTER OF 2015 RESULTS - Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in Portuguese). . Net income was R$ 2,102... Continue Reading →
Petrobras Loss Narrows as High Local Fuel Price Offsets Oil Rout
Petroleo Brasileiro SA said its net loss narrowed in the third quarter as higher domestic fuel prices softened the blow from a global energy slump. The net loss of 3.8 billion reais compared with a loss of 5.3 billion reais a year earlier, the state-controlled Rio de Janeiro-based oil producer, known as Petrobras, said Thursday. Read... Continue Reading →
Brazil Energy Insight 