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Petrobras Bets on Iron-Ore Boss to Lead Board as Debt Mounts By Juan Pablo Spinetto/Bloomberg 6:55 AM BRT April 29, 2015 If guiding the biggest iron-ore miner through the worst price rout in a decade wasn’t enough, Murilo Ferreira is about to take on a new job. And it’s not just any job. On Wednesday,... Continue Reading →
Tue Apr 28, 2015 7:14 am EDT Petrobras writedown may give new ammunition to class-action suit WILMINGTON, DELAWARE | BY TOM HALS AND NOELEEN WALDER (Reuters) - Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for... Continue Reading →
http://www.ft.com/cms/s/0/2e9914fe-e35b-11e4-9a82-00144feab7de.html#ixzz3YbUcpUZ7 April 28, 2015 5:37 am Singapore rig builders feel impact of oil price slide Henny Sender/FT ©Bloomberg Problems in the Brazilian and Mexican oil industries unleashed by the plunge in crude prices have ensnared two pillars of Singapore Inc — rig builders Keppel Corporation and Sembcorp Industries — and through them Temasek, the state investment fund that is... Continue Reading →
Mon Apr 27, 2015 4:20pm EDT CORRECTED-Petrobras says non-government board member Monforte resigns (Reuters) - Jose Guimarães Monforte quit the board of directors of Petroleo Brasileiro SA on Friday, and a source on the board said two days earlier he had abstained from voting to approve the company's audited financial statements. Petrobras, as the company... Continue Reading →
Petrobras (PBR.A) Stock Falls Today on Morgan Stanley Downgrade By Andrew Meola|04/27/15 - 10:53 AM EDT NEW YORK (TheStreet) -- Shares of Petrobras fell 2.24% to $8.71 in morning trading Monday after Morgan Stanley downgraded the Brazilian state-owned energy company to "underweight" from "equal weight" and reduced its price target to $8.50. The firm said the company's debt level... Continue Reading →
Fri Apr 24, 2015 6:25pm EDT Petrobras overhaul calls for much more than corruption clean-up RIO DE JANEIRO | BY JEB BLOUNT A tower with a Brazilian flag representing an oil rig is pictured during a protest in front of the Petrobras headquarters in Rio de Janeiro REUTERS/SERGIO MORAES (Reuters) - Petrobras' decision to take a massive... Continue Reading →
Petrobras Looks Fully Priced The hobbled Brazilian oil giant’s stock accurately reflects some good news and the substantial risks it still faces. By DIMITRA DEFOTIS / Barron's April 25, 2015 12:03 a.m. ET Bad news has become good news for Brazil’s Petrobras. Otherwise known as Petróleo Brasileiro (ticker: PBR), the state-controlled oil producer and refiner has... Continue Reading →
Fri Apr 24, 2015 11:51am EDT Fitch warns it may still downgrade Petrobras in next few years RIO DE JANEIRO, APRIL 24 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA avoided an imminent credit downgrade by publishing corruption-delayed financial statements but could still have its ratings cut in the next couple of years, Fitch... Continue Reading →
Fri Apr 24, 2015 12:44 pm EDT UPDATE 2-Four Petrobras platforms halt output due to oil leak -union (Reuters) - Four Petrobras oil platforms off the northeast coast of Brazil have halted production after a leak of about 7,000 liters of oil was detected coming from a pipeline linking them, a local oil workers union... Continue Reading →
http://www.ft.com/cms/s/0/d9515292-ea7e-11e4-a701-00144feab7de.html#ixzz3YFVrrVnB WEEK IN REVIEW April 24, 2015 4:25 pm Petrobras puts chief’s pragmatism to test as woes mount Joe Leahy in São Paulo/FT ©Reuters Aldemir Bendine In an interview in 2009, Aldemir Bendine, then head of Banco do Brasil, Brazil’s biggest bank, was asked about his favourite piece of wisdom. “The pessimist complains about the wind;... Continue Reading →
Brazil Energy Insight 