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The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers. Exxon Mobil Corp. tops the list with a total of $320 billion for potential acquisitions. Chevron is next with $65 billion in cash and its own shares tucked away, followed by BP Plc... Continue Reading →
In Brazil, the push to oust President Dilma Rousseff has shifted, as often happens in politics, away from the corruption scandal that first landed her government in trouble. Impeachment calls are now focused on her handling of fiscal accounts, and that is perhaps fitting since few problems in Brazil rank higher than its exploding budget... Continue Reading →
Brazil’s real declined to the lowest level this month amid renewed speculation Finance Minister Joaquim Levy may leave his post, while increased bets that the Federal Reserve will raise rates in December is hurting demand for emerging-market assets. The real dropped 0.5 percent to 3.8181 percent at 9:38 a.m. in Sao Paulo, the weakest since... Continue Reading →
Verde Asset Management, Brazil's largest hedge fund, stepped up purchases of state-controlled oil producer Petróleo Brasileiro SA bonds in October to take advantage of high yields, but warned that the company is not acting with sufficient urgency to cut debt. In a monthly letter to investors on Monday, money managers led by Luis Stuhlberger said... Continue Reading →
By Kevin Allison and Neil Unmack The author is a Reuters Breakingviews columnist. The opinions expressed are his own. It would be hard for Brazil to let Petroleo Brasileiro go. The embattled oil company is hobbled by rising debt with bond yields pricing in a high degree of distress. The government of President Dilma Rousseff... Continue Reading →
Petrobras' move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the state-run company to import the light oil duty-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in... Continue Reading →
Petrobras - 3rd Quarter 2015 Results Release Date 10/27/2015 Rio de Janeiro, October 27th 2015 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 3rd Quarter 2015 results on November 12th, 2015, after the market is closed. Therefore, from October 29th to November 12th, the Company will be in quiet period, during... Continue Reading →
Brazil’s state development bank is making the nation’s fight against inflation even more difficult. BNDES -- whose $170 billion-plus loan portfolio is bigger than the World Bank’s -- has raised its key lending rate by two percentage points this year to 7 percent. The central bank’s benchmark Selic rate is at a nine-year high of... Continue Reading →
The five Brazilian banks owed $3.6 billion from Sete Brasil, a company set up to build offshore drill-rigs for state-led oil company Petroleo Brasileiro SA, will extend a repayment deadline into next year, the Estado de S.Paulo newspaper reported on Tuesday. The debt, owed to state-led Banco do Brasil SA and state-owned Caixa Economica Federal... Continue Reading →
The selloff punishing Brazilian markets in recent months isn’t fazing Jerome Booth. He’s seen it before and says just like then, it’s way overdone. Yes, Brazil has serious problems. The country’s “a mess,” he says, with a massive corruption investigation at state-run oil company Petroleo Brasileiro SA, a worsening fiscal outlook, the steepest recession in... Continue Reading →
Brazil Energy Insight 