Exxon Mobil Corp., Chevron Corp. and Total SA weren’t among the nine bidders that presented offers in final stage of Mexico’s first oil auction Wednesday, the National Hydrocarbons Commission announced in Mexico City. There were no bidders for the first block auctioned.
Petrobras to Sell Control of Pipeline Assets – TAG
Market sources report that Petrobras is negotiating the sale of its gas pipeline transportation assets, Trasportadora Associada de Gás - TAG. The company is offering two models - sale of 49% minority stake and operate or sale of 80% majority stake and let buyer operate. market sources say that the 80% sale has interested parties while... Continue Reading →
Brazil Real Declines on Moody’s Downgrade Expectation
Brazil’s real fell for a second straight day amid speculation the nation will struggle to avoid a credit-rating downgrade as efforts to pare budget deficits face opposition from lawmakers. Read More
BHP Expects U$2.8 Billion Impairment Charge on Shale Assets
BHP Billiton Ltd.’s $20 billion foray into U.S. shale gas continues to sour as the world’s biggest mining company revealed it plans a further impairment charge. It will take a $2.8 billion writedown, most of it on the Hawkville field in Texas, Melbourne-based BHP said Wednesday. That brings BHP’s pretax charges on its U.S. shale... Continue Reading →
S&P Keeps Negative Bias on Petrobras
Standard & Poor's reiterated a negative outlook for Brazil's Petrobras on Tuesday, signaling the state-run oil company might soon lose its investment-grade rating despite its recent efforts to cut debt and restore investor confidence. Petroleo Brasileiro SA, as the company is formally known, has slashed its long-term spending plan to an eight-year low as it... Continue Reading →
Petrobras Board Member Questions Government Pre Salt and National Content Policies
Brazil's oil-exploration and local-content policies harm oil producer Petróleo Brasileiro SA and the nation as a whole, a government-appointed member of the state-run company's board said on Tuesday in a rare show of board-member independence. The comments were made by Roberto Castello Branco, who was named earlier this year by President Dilma Rousseff's administration to... Continue Reading →
Brazil police target politicians in new round of Petrobras probe
(Reuters) - Brazilian police carried out their first search and seizure operations involving politicians suspected of taking bribes in a scandal involving state-run oil firm Petrobras on Tuesday, local media and prosecutors said. Senators Fernando Collor de Mello and Ciro Nogueira are among the names being investigated in the 16th round of the probe, dubbed... Continue Reading →
Federal Police Search Ex President Collor on Petrobras Probe
Brazil police this morning searched the home of former president and current senator Fernando Collor as part of investigations into sitting congressmen allegedly involved in a scheme to divert money from Petrobras. Police targeted 53 homes and businesses in 7 states to keep evidence from being destroyed, according to an e-mailed statement from the prosecutor... Continue Reading →
Angola’s Sonangol Seeks U$1 Billion in Savings
Sonangol EP, the state-run oil company in Angola, is seeking $1 billion in cost savings by the end of the year to help cope with plunging crude prices. Sonangol said in February it will cut this year’s spending by 25 percent, end most retail fuel subsidies and reduce contract costs by as much as half.... Continue Reading →
Big Oil Deals Ready for Explosion
As oil began crashing late last year, many prepared for a buying spree. Shale was going on sale. That sale has yet to show up. Deals have been active in the pipeline and processing sector, including Marathon Petroleum Corp.’s $15.8 billion deal today. But overall, global oil and natural gas deals so far this year... Continue Reading →
Brazil Energy Insight 