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Royal Dutch Shell (RDSa.L), which is all set to acquire rival BG Group Plc (BG.L), may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reported on Sunday, citing sources. A substantial cut to this year's capital investment might be outlined during the... Continue Reading →
Any attempt by the Brazilian government or Congress to relax spending-reduction goals for this year would inevitably extend the duration of the current fiscal adjustment program, Finance Minister Joaquim Levy said in a newspaper interview published on Sunday. Some members of President Dilma Rousseff's government and a few ruling coalition lawmakers want the government to... Continue Reading →
Halliburton Co.’s profit tumbled in the last quarter after a yearlong crude-market crash forced customers to slam the brakes on oilfield work. The world’s largest fracking-services provider said second-quarter net income fell to to $54 million, or 6 cents a share, from $774 million, or 91 cents, a year earlier, the Houston-based company said in... Continue Reading →
Moody’s Investors Service, Standard & Poor’s and Fitch Ratings have dished out 93 corporate downgrades since January 1, already more than in any full year since 2002, and they may not be done. Speculation is mounting that Moody’s -- which met with officials in Brazil last week -- will lower the country’s rating, a move... Continue Reading →
Analysts reduced their forecast for inflation for the third straight week, to 5.4 percent from 5.44 percent the prior week, and cut their outlook for the benchmark Selic to 12 percent from 12.25 percent, according to the July 17 central bank survey of about 100 analysts published Monday. They also forecast 2016 growth of 0.33... Continue Reading →
The turmoil swirling around President Dilma Rousseff and Brazil’s other top politicians grew more intense Friday when the head of the lower house announced an open rebellion against her. Read More
Petroleo Brasileiro SA, the world most indebted oil producer, is selling its controlling stake in an Argentine unit, Neuquen Province Governor Jorge Sapag said. YPF SA, Pan American Energy LLC, Pluspetrol SA and Tecpetrol SA are among the companies planning to jointly buy about 70 percent of Petrobras Argentina SA owned by the Rio de... Continue Reading →
Brazil’s real led global losses amid concern mounting political tension will make it harder for President Dilma Rousseff to trim budget deficits and maintain the nation’s credit rating. The currency fell the most in a week as Eduardo Cunha, the head of the lower house, broke with the ruling coalition after a state’s witness accused... Continue Reading →
The speaker of Brazil's lower house of Congress, Eduardo Cunha, broke with the government of President Dilma Rousseff on Friday over corruption allegations, deepening a political crisis in Latin America's largest economy. Cunha accused Rousseff's government and prosecutor general Rodrigo Janot of conspiring to incriminate him in a widening corruption scandal at state-run oil firm... Continue Reading →
Brazil’s real headed for a fourth straight weekly decline amid concern mounting political tension will make it harder for President Dilma Rousseff to trim budget deficits and maintain the nation’s credit rating. The currency fell Friday as Folha de S. Paulo reported that Eduardo Cunha, the head of the lower house, was preparing to announce... Continue Reading →
Brazil Energy Insight 