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 

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 →

Petrobras confirms in shareholders meeting last night that the company will not distribute dividends to both ordinary and preferred shareholders. Preferred shareholders are contesting this measure. Petrobras confirms that is has cancelled offshore rig contracts with Schahin Oil and Gas for breach of contract. No other information is available at this time. Evan Sponagle 26/05/2015

Petrobras to divest of five groups of assets, including the pre-salt areas Evan Sponagle 25/05/2015 Within its plan to sell assets to reduce the heavy debt, Petrobras announced  a goal of raising $ 13.7 billion from the sale of assets, according to local market sources. . One of the most valuable assets in the package for... Continue Reading →

Fri May 22, 2015 Brazil to cut R$70 bln or U$23 bln in spending to meet fiscal target May 22 The Brazilian government will freeze around 70 billion reais ($23.02 billion) in spending this year, as part of the austerity program. The cut is in line with expectations and signals greater commitment to austerity as... Continue Reading →

Oil Giants Band Together to Add Their Voice to Climate Debate By Tara Patel Stefan Nicola/Bloomberg 8:30 PM BRT May 20, 2015 Europe’s largest oil companies are banding together to forge a joint strategy on climate change policy, alarmed they’ll be ignored as the world works toward a historic deal limiting greenhouse gases. Royal Dutch... Continue Reading →