Brought to you by Quest Offshore & Southern Cone Consultants
For much of the past year, Petroleo Brasileiro SA’s unrelenting rout has pushed down bond prices to new lows day after day. Now, Deutsche Bank AG is finally starting to see value in the state-controlled oil producer’s debt. The strategy is simple: buy its $3.35 billion of notes due in 2017 -- whose yields have more... Continue Reading →
Petrobras - Fitch reaffirms Petrobras’ global ratings 10/15/2015 Rio de Janeiro, October 15th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch has reaffirmed Petrobras’ global ratings at BBB-, with a negative outlook. Thus, Petrobras continues to be classified as an investment grade company for this agency. Fitch points out in... Continue Reading →
Brazil’s real weakened the most among major currencies on speculation the government will change this year’s budget target to show a deficit, highlighting its inability to shore up the country’s finances. Officials will revise this year’s budget target for the third time, forecasting a deficit excluding interest payments of 0.3 percent of gross domestic product, worse than the... Continue Reading →
Petroleo Brasileiro SA, the world’s biggest junk-rated borrower, canceled a plan to sell 3 billion reais ($790 million) of local bonds, according to a person familiar with the matter. Petrobras couldn’t raise as much as it wanted because of lackluster demand after the state-controlled oil producer’s credit rating was cut to junk by Standard &... Continue Reading →
Wed Oct 14, 2015 Petrobras saved $3.8 billion this year by managing debt better: CEO Reuters People walk in front of the Petrobras headquarters in Rio de Janeiro February 2, 2015. REUTERS/SERGIO MORAES Brazilian state-run oil company Petroleo Brasileiro SA has saved $3.8 billion this year by improving the way it manages its debt, Chief... Continue Reading →
In the smog-filled, run-down industrial hubs that ring the southern end of Sao Paulo, Brazil’s next big crisis is taking root. The labor market, long the country’s lone economic bright spot as growth stagnated, is suddenly deteriorating rapidly, drivingunemployment all the way up to 7.6 percent from a record-low 4.3 percent at the end of... Continue Reading →
Brazil’s real followed a rally in major currencies against the dollar as global appetite for riskier assets overwhelmed concerns about the outlook for Latin America’s largest economy amid political strife. The real rebounded from the biggest slide since 2011 as disappointing economic reports out of China and the U.S. spurred wagers the Federal Reserve will... Continue Reading →
Petrobras - Financing Agreement with ICBC Leasing 10/13/2015 Rio de Janeiro, October 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that it concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a... Continue Reading →
Tue Oct 13, 2015 7:41am EDT Brazil's Petrobras to sign $2 bln leasing contract with China's ICBC Reuters Petrobras press release Oct 13 Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement... Continue Reading →
The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. As a result, the veteran oil-industry analyst told clients in a note on Monday that... Continue Reading →
Brazil Energy Insight 