(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’s inflation rate to reach 9.12 pct in 2015 – survey
Mon Jul 13, 2015 7:44am EDT Brazil's inflation rate to reach 9.12 pct in 2015 - survey BRASILIA, July 13 Economists raised their forecasts for Brazil's end-2015 inflation rate but lowered their estimates for price increases next year, a weekly central bank survey showed on Monday. The median forecast of about 100 financial institutions in... Continue Reading →
Saudis Pump Record Oil as OPEC Sees Demand Up in 2016
Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in 1980, according to data the kingdom submitted to the Organization of Petroleum Exporting... Continue Reading →
Halliburton, Baker Hughes extend DoJ review date for deal
Halliburton Co (HAL.N) and Baker Hughes Inc (BHI.N) have agreed with the U.S. Department of Justice to extend the date of the department's review of Halliburton's acquisition of Baker Hughes, a deal that would create an oilfield services behemoth. Read More
US Drillers Put Rigs Back to Work for Second Straight Week
Drillers put rigs in U.S. oil fields back to work for a second straight week, suggesting the end of an unprecedented retreat from the country’s prolific shale formations. Rigs targeting oil in the U.S. increased by five to 645, Baker Hughes Inc. said on its website Friday. They rose by 12 last week. Natural gas... Continue Reading →
IEA Says Oil Prices May Fall Further on Oversupply
Oil prices may fall further as the world remains “massively oversupplied,” before markets tighten in 2016 when output growth outside OPEC grinds to a halt, according to the International Energy Agency. There will be no overall production growth outside the Organization of Petroleum Exporting Countries next year for the first time since 2008, according to... Continue Reading →
ANP says 17 Companies Interested in Bidding in Upcoming Auction
Brazil's oil regulator ANP said on Thursday that 17 companies from eight countries are interested in bidding for oil exploration and production rights in an upcoming auction. Read More
