Feb. 08, 2017 Not everything is a crisis in Brazil. With the growing interest in the country, Statoil will concentrate its efforts on the second phase of production of the Peregrino field in the Campos Basin, which will begin in 2020. The company's president, Eldar Sætre , stated that the Peregrino Project is an important... Continue Reading →
Total Lifts Dividend, Plans Growth as Profits Beat Estimates
Total SA raised its dividend by 1.6 percent and said it may give the go-ahead for almost a dozen new projects in the next 18 months after fourth-quarter profit beat analysts’ estimates. Total’s adjusted net income climbed 16 percent from a year earlier to $2.41 billion due to rising oil and gas production and cost... Continue Reading →
Brazil Seen Cutting Rates Further as Annual Inflation Halved
Brazil’s annual inflation rate plunged to a four-year low in January, fueling bets the central bank will keep its aggressive pace of monetary easing for longer. Swap rates extended their recent declines. The benchmark IPCA index climbed 0.38 percent in January, the lowest recorded for the month in the series dating back to 1994. It... Continue Reading →
GRAN TIERRA SELLS ALL OPERATIONS IN BRAZIL TO MAHA ENERGY
Feb. 7, 2017 Sweden's Maha Energy is betting on Brazil and has taken a major step forward by buying all the assets and operations of Gran Tierra. The value of the transaction was $ 35 million, with a $ 3.5 million down payment to be made next Thursday the 9th. The agreement also includes all... Continue Reading →
Statoil hit by impairment charges
zoom Norwegian oil company Statoil widened its loss during the fourth quarter of 2016 mainly due to impairment charges. The company on Tuesday reported that its net loss was $2.79 billion during the fourth quarter 2016, compared to $1.12 billion loss in the fourth quarter of 2015. Statoil’s net operating income was negative $1.897 billion... Continue Reading →
Statoil Ready to Boost Spending Again After Slashing Costs
Statoil ASA, Norway’s biggest oil company, is ready to increase investment again as it reaps the benefit of drastic cost reductions it pushed through after oil’s collapse -- cuts that it vowed to deepen even further. After slashing investments by half in two years to $10 billion in 2016, the company plans to spend $11... Continue Reading →
Government postpones decision on local content in the face of deadlock
07/02/2017 The federal government postponed a vote that would be taken on Monday to decide on a change of rules in local content of the oil and natural gas sector, while there is still no consensus on the degree of flexibility that will be applied. The impasse, according to the representative of the Brazilian... Continue Reading →
Brazil prosecutor seeks probe into former president, senators
Brazil's top prosecutor on Monday asked the Supreme Court for permission to investigate an ex-president, two senators and the former head of a unit of the state oil company for alleged efforts to thwart the country's largest corruption probe. Prosecutor General Rodrigo Janot accused ex-President Jose Sarney, who now sits in the Senate, along with... Continue Reading →
BP Profit Misses Estimates as Oil’s Rally Hurts Refining
BP Plc reported fourth-quarter earnings that missed analyst estimates after higher oil prices failed to fully compensate for lower income from refining. Profit adjusted for one-time items and inventory changes totaled $400 million, falling short of the $567.7 million average estimate of analysts. Unlike peers Royal Dutch Shell Plc and Exxon Mobil Corp., which... Continue Reading →
Brazil’s inflation seen falling to 2012 low in January
Brazil's inflation probably fell to its lowest annual rate since September 2012 in January, a Reuters poll showed on Monday, adding to investors' confidence about steep interest rate cuts by the central bank this year. Consumer prices probably rose 5.41 percent in the 12 months through January, slowing from an increase of 6.29 percent in... Continue Reading →
Brazil Energy Insight 