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Can this be a positive for the Brazil Pre Salt? The U.K.’s North Sea oil and gas industry, already reeling from low prices and high costs, now faces a worsening investment drought as the nation’s decision to quit the European Union looks set to trigger a second independence vote in Scotland. A poll on Scottish... Continue Reading →
Reuters Odebrecht SA has sold a 57 percent stake in a Peruvian toll road project to Brookfield Asset Management Inc, as Latin America's largest engineering firm sheds assets to cope with fallout from a sweeping corruption probe on its home turf. In a statement, Salvador, Brazil-based Odebrecht said the transaction will allow it to keep... Continue Reading →
Brazil’s real strengthened after the central bank appeared to rule out easing monetary policy before budget cuts are in place and as commodities advanced, boosting the outlook for the country’s raw-material exports. The currency strengthened 1.4 percent to 3.3445 per dollar at 11 a.m. in Sao Paulo. Swap rates on the contract maturing in January... Continue Reading →
Britain’s vote to quit the European Union has flipped perceptions of global political risk on their head. Brazil’s new government and Russia’s isolation represent a buying opportunity for Europe’s biggest asset manager as political chaos across the continent erodes developed economies’ traditional haven status. Even before the Brexit vote, price swings for bonds in advanced nations... Continue Reading →
The debt restructuring of offshore driller Seadrill Ltd. is becoming more of a hassle than it’s worth for some junk bond investors. Holberg Kreditt has sold all its Seadrill bonds, according to Gunnar Torgersen, chief investment officer at Bergen, Norway-based Holberg Fondsforvaltning AS. It disposed of about $56 million of the 2017 bond in April... Continue Reading →
Brazil is winning over derivatives traders as Acting President Michel Temer seeks to repair the nation’s finances. The cost to hedge against losses in Brazil’s bonds with credit-default swaps has tumbled by almost a third in the past six months, the biggest drop among the world’s major economies. Prices of the swaps are also... Continue Reading →
Brazil's interim President Michel Temer attends a meeting with governors of Brazilian states, at the Planalto Palace in Brasilia, Brazil, June 20, 2016. REUTERS/ADRIANO MACHADO Conservative legislators in Brazil say they will back interim President Michel Temer through a growing corruption scandal in return for support for their right-wing social agenda, including tougher abortion restrictions... Continue Reading →
The cost to drill wells at Argentina’s Vaca Muerta, site of the world’s second-biggest shale reserves, has dropped 20 percent this year, putting Chevron Corp. and its partners closer to meeting spending goals. Drilling costs at the Loma Campana field in Vaca Muerta have declined to $11.2 million per well from $14 million in the... Continue Reading →
Rising petroleum demand in China, North America and Europe will help bring global oil markets into balance this year, BP Plc Chief Executive Officer Bob Dudley said. “Global supply and demand recently have moved toward a better balance, and we expect this trend to continue into the second half of 2016 and probably reaching a... Continue Reading →
Prosecutor Carlos Fernando dos Santos Lima speaks during an interview for Reuters in Curitiba, Brazil, June 23, 2015. REUTERS/RODOLFO BUHRER For weeks, his possible earth-shattering testimony in Brazil's biggest corruption scandal has been the talk of the nation, filling endless pages in newspapers and magazines. Breathless reports stated that Marcelo Odebrecht, the former chief executive... Continue Reading →
Brazil Energy Insight 