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An equipment failure that’s delayed Chevron Corp.’s $5.1 billion Big Foot deepwater project will reduce the company’s production target by less than 25,000 barrels a day in 2017, the company said. Read More
President Rousseff unveiled large infrastructure plan to stimulate lagging economy. Read More
Colombian oil company in trouble from shareholders Pacific Rubiales Energy Corp.’s share price shows its takeover has the most risk of failing among major oil deals. A member of the bidding group signaled that’s because it doesn’t plan to waive a condition that could block the bid. The Colombian driller’s largest shareholder, an investor group... Continue Reading →
North Sea oil Offshore fog Bloated costs and falling profits threaten the future of North Sea oil May 30th 2015 Try to keep it pumping WHEN the North Sea oil- and gasfields were booming, inefficiencies mushroomed. Now, times are tough—and it may be too late for belt-tightening. The offshore industry, particularly the British bit of... Continue Reading →
Brazil’s Development Bank Moves to Open Books Amid Graft Scandal June 3, 2015 — 3:56 PM BRT BNDES President Luciano Coutinho. Photographer: Marcos Issa/Bloomberg Brazil’s state development bank took a step toward transparency amid criticism of lending to countries like Cuba, big campaign donors and contractors involved in a graft scandal. BNDES, the Rio... Continue Reading →
The Brazilian Central Bank monetary policy committee, known as the COPOM, will most likely raise interest rates or Selic another 50 basis points to 13.75% p.a. this evening when it meets. The highest rate in 6 years as the Central Bank is adamant to dominate the high inflation rate which has broken the 8% mark... Continue Reading →
There is no logical explanation to the success of the Petrobras U$ 2.5 billion Century Bond issue. The market makers and writers are trying to make sense of this event.... Read More... http://www.reuters.com/article/2015/06/02/column-markets-saft-idUSL1N0YL0IZ20150602
Petrobras surprises market by successfully issuing U$2.5 billion in rare Century Bonds. Dado Galdieri / Bloomberg News Read More http://www.bloomberg.com/news/articles/2015-06-01/petrobras-said-seeking-to-sell-century-bond-in-return-to-market
May 28, 2015 Workers' Union-Petrobras pays 2014 bonus despite record loss and canceled dividends Petroleo Brasileiro SA, - Petrobras, will pay employees 1.04 billion reais ($331 million) in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends. The bonus, known as "a share in results", will be paid to the workers and... Continue Reading →
Lupatech announced that it has filed for a judicial reorganization, creditor protection, for all the companies in the Group. Besides the holding, it includes: Lupatech Finance Ltd., Amper Amazonas Perfurações; Itacau Agenciamentos Maritimos, Lochness Participações; Lupatech Equipamentos e Serviços para Petroleo, Lupatech Perfuração e Completação, Matep Maquinas e Equipamentos, Mipel Ind. e Com. de Valvulas,... Continue Reading →
