Royal Dutch Shell Plc said it would cut about 2,800 jobs to meet a pledge of reducing operating costs by $3.5 billion following its takeover of BG Group Plc. That equates to 3 percent of Shell and BG’s combined workforce as The Hague-based company consolidates offices and its administration structure once the acquisition is completed, it... Continue Reading →
Brazilians take to streets to demand Rousseff’s impeachment
Tens of thousands of Brazilians took to the streets on Sunday to demand President Dilma Rousseff's ouster, but the first nationwide protests since formal impeachment proceedings began were smaller than similar events earlier this year. Pollster Datafolha said 40,000 people turned out in Brazil's largest city of Sao Paulo, down from 135,000 in an August... Continue Reading →
Shell’s Record Takeover of BG Clears Final Antitrust Hurdle
Royal Dutch Shell Plc got clearance from antitrust authorities in China for the takeover of BG Group Plc, removing the final regulatory hurdle for its biggest-ever deal. The clearance from China’s Ministry of Commerce follows similar approvals from authorities in Brazil, the European Union and Australia. BG and Shell will now seek assent from their shareholders... Continue Reading →
Crude Falls Below $35 per Barrel in New York for First Time Since 2009
Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. Futures fell as much as 2.7 percent to $34.67 a barrel in New York, the lowest since Feb. 19, 2009. They lost... Continue Reading →
Brazil’s Real Declines as Economists Reduce 2016 GDP Forecas
Filipe Pacheco/Bloomberg December 14, 201 Brazil’s real declined the most among regional currencies on worsening prospects for the economy as President Dilma Rousseff fights attempts to impeach her. The real dropped 0.5 percent to 3.8925 per dollar as of 9:44 a.m. in Sao Paulo, on course for its lowest level on a closing basis since... Continue Reading →
Rousseff Critics Stage Brazil March as Congress Watches Closely
Critics of President Dilma Rousseff are organizing street protests in more than 90 cities throughout Brazil on Sunday, providing the first gauge of public opinion since Congress opened impeachment proceedings. Civic groups posted lists of rallying points and times on social media, calling on Brazilians to march in favor of Rousseff’s ouster. "Impeachment: with you on the... Continue Reading →
Cleaning House – Brazil police arrest four in corruption probe of water project
Brazilian federal police arrested four people on Friday including the chief executive of engineering group OAS in a new probe of suspected price-fixing and kickbacks on a long-delayed project to divert water to the drought-prone Northeast. Police said they had evidence that a consortium of engineering companies working to redirect water from the São Francisco... Continue Reading →
Halliburton Bid for Baker Hughes in Limbo as U.S. Deadline Looms
Halliburton Co.’s takeover bid for Baker Hughes Inc. has come down to the wire with the U.S. Justice Department, which may decide by next week whether to approve the deal after months of negotiations. Halliburton has presented a package of proposed asset sales to antitrust officials in hopes of allaying their concerns that the tie-up... Continue Reading →
Brazil police to question Lula in bribery probe involving son
Former President Luiz Inacio Lula da Silva has been called in for questioning next week by Brazil's federal police in a bribery investigation involving his son Luis Claudio, according to a summons document seen by Reuters on Friday. Lula is not under investigation but will be questioned about the case in which police suspect a... Continue Reading →
Brazil’s Political Crisis Comes Down to Who Lasts Longest
Brazil’s political crisis is becoming a two-horse race between President Dilma Rousseff and the head of the lower house to see who survives in office longer. The same man who started impeachment proceedings against Rousseff, Chamber of Deputies President Eduardo Cunha, is struggling to hang on to his own job as he faces an ethics... Continue Reading →
Brazil Energy Insight 