Feb 19, 2016 Reuters Brazil's Senator Delcidio Amaral reacts during a ceremony to reappoint Brazil's Prosecutor-General Rodrigo Janot to the position of Prosecutor-General of the Republic at the Planalto Palace in Brasilia, Brazil, September 17, 2015. REUTERS / UESLEI MARCELINO Brazil Supreme Court Judge Teori Zavascki on Friday ordered the release of ruling party Senator... Continue Reading →
S&P says erratic policy hurts Brazil’s rating outlook
Standard & Poor's said on Thursday that it might downgrade Brazil's rating further into junk territory as a political crisis delays important measures to rebalance the country's finances. S&P director Lisa Schineller said on a conference call that the agency would keep a negative outlook for the country's rating as long as political uncertainties remain,... Continue Reading →
Natixis: Lower Oil Prices Will Start to Hurt the Global Economy This Year
Don't expect the plunge in commodity costs to help the global economic picture any time soon. Analysts at Natixis, led by Chief Euro-Region Economist Sylvain Broyer, contend that the headwinds stemming from lower crude will only start to outweigh any positives this year. This analysis adds to an increasing body of commentary that claims "this time is different": lower... Continue Reading →
Brazil real underperforms Latam currencies on S&P downgrade
Feb 18, 2016 Reuters By Bruno Federowski SAO PAULO, Feb 18 The Brazilian real underperformed Latin American currencies on Thursday after Standard & Poor's downgraded the country deeper into junk territory. Citing considerable economic and political challenges, S&P cut Brazil's sovereign grade rating to BB from BB+ with a negative outlook. Traders said the cut... Continue Reading →
Creditors shun Brazil’s Schahin restructuring plan
Creditors of ailing Brazilian engineering and rig leasing conglomerate Grupo Schahin rejected on Wednesday a reorganization plan, a source with direct knowledge of the decision said. The decision could pave the way for Schahin's liquidation, said the source, who is not authorized to discuss the issue publicly. All 13 banks that are creditors of Schahin,... Continue Reading →
OSRV En Route To Brazil
Chartered by Petrobras, the CMM Celerity is expected to start operating at the end of June [17.02.2016] / By João Montenegro/Brasil Energy The Damen shipyard in the Netherlands launched the OSRV CMM Celerity, owned by Compagnie Maritime Monégasque International (CMM). To work on behalf of Petrobras, the CMM Celerity is expected to start operating at... Continue Reading →
MHWirth’s Macaé Plant Ready
The Norwegian company has completed construction of its US$ 100 MM drilling packages plant [17.02.2016] / By João Montenegro/Brasil Energy MHWirth, owned by the Akastor group, has completed construction of its drilling packages plant in Macaé (Rio de Janeiro). The information was disclosed during the presentation of the company's 4Q15 earnings results. However, no date... Continue Reading →
Queiroz Galvão’s shipping company can now sign new contracts with Petrobras again
QGOG Taken Off The Blacklist Queiroz Galvão’s shipping company can now sign new contracts with Petrobras again. The company had been prohibited to do so as part of the Lava Jato corruption investigation [17.02.2016] / By Gustavo Gaudarde/Brasil Energy Queiroz Galvão Óleo e Gás (QGOG) has been allowed to sign contracts with Petrobras once again.... Continue Reading →
Brazil Party Vote Boosts Rousseff in Impeachment Fight
The largest party in Brazil’s lower house of Congress re-elected a pro-government leader, strengthening President Dilma Rousseff’s hand in fending off impeachment. In a 37 to 30 vote Wednesday, deputies of the Brazilian Democratic Movement Party, or PMDB, re-elected Congressman Leonardo Picciani, who has spoken out against efforts to remove Rousseff from office on charges... Continue Reading →
Brazil’s Credit Rating Cut Further Into Junk Territory by S&P
Brazil’s debt rating was cut deeper into junk territory by Standard & Poor’s, which cited fiscal and political challenges for Latin America’s largest economy. The long-term foreign currency rating was reduced one level to BB with a negative outlook, S&P said in a statement Wednesday. The new level, two steps below investment grade, puts Brazil... Continue Reading →
