‘Shale-ionaires’ Suffering from Wave of Bankrupt Oil Drillers By Kelly Gilblom/Bloomberg 9:00 PM BRT May 20, 2015 At the height of the U.S. energy boom, Texas landowner John Baen received about $100,000 a month in royalty payments from companies producing oil and natural gas on his property. Now the checks are much smaller, and when... Continue Reading →
Alfa, Harbour to Buy Pacific Rubiales in $1.7 Billion Deal
Alfa, Harbour to Buy Pacific Rubiales in $1.7 Billion Deal by James Paton/Bloomberg 1:36 AM BRT May 21, 2015 Alfa SAB and Harbour Energy Ltd. agreed to acquire Pacific Rubiales Energy Corp. in a deal that values Latin America’s largest non-state oil producer at about C$2.1 billion ($1.7 billion). The companies agreed to pay C$6.50... Continue Reading →
Oil market buoyed by product demand
http://www.ft.com/cms/s/0/83bc066a-fedd-11e4-94c8-00144feabdc0.html#ixzz3ahoYFLnD May 20, 2015 6:42 pm Oil market buoyed by product demand Anjli Raval and Neil Hume/FT ©Bloomberg The oil market is coping with storage capacity limits because demand for products such as petrol has been unexpectedly strong, says a senior executive at the world’s biggest independent oil trader. Demand growth was “back up to 1.4-1.5m barrels... Continue Reading →
Grupo Alfa close to $6.5bn buyout of Pacific Rubiales
http://www.ft.com/cms/s/0/7a3248b8-feb8-11e4-84b2-00144feabdc0.html#ixzz3agqKEe5d May 20, 2015 12:33 pm Grupo Alfa close to $6.5bn buyout of Pacific Rubiales Henny Sender/FT ©Bloomberg/Susana Gonzalez Pacific Rubiales, the largest independent oil producer in Latin America, is set to be acquired by Grupo Alfa and Harbour Energy in what would be the region’s biggest-ever private equity deal. The all-cash deal, which could... Continue Reading →
Drill deeper than oil for Saudi prosperity
http://www.ft.com/cms/s/0/57ed823e-a573-11e4-ad35-00144feab7de.html#ixzz3agWeGlOw May 19, 2015 5:00 pm Drill deeper than oil for Saudi prosperity John Sfakianakis/FT Important reforms centre on energy, which kingdom uses wastefully, writes John Sfakianakis ©AFP When your income is cut in half, it helps to have a few dollars on hand, but even then you will have to make changes. So it... Continue Reading →
From Canada to Australia, energy groups’ cuts are laid bare
http://www.ft.com/cms/s/0/4c6eab9a-fa55-11e4-aa42-00144feab7de.html#ixzz3afpx0IgV May 18, 2015 6:01 pm From Canada to Australia, energy groups’ cuts are laid bare Christopher Adams, Energy Editor/FT Almost 30 years ago, Saudi Arabia triggered a slide in oil prices by making an aggressive bid for market share, and western energy companies were forced to make sweeping cuts in capital spending in response.... Continue Reading →
China Grows South America Sway as Commodity Bust Cheapens Assets
China Grows South America Sway as Commodity Bust Cheapens Assets By Juan Pablo Spinetto David Biller/Bloomberg 6:20 PM BRT May 19, 2015 Li Keqiang, China's premier. Photographer: Krisztian Bocsi/Bloomberg China’s interest in Latin American isn’t just about oil and agriculture anymore. As Premier Li Keqiang tours Brazil, Colombia, Peru and Chile for the first time,... Continue Reading →
Brazil bets on rain, rules out power rationing in 2015
Tue May 19, 2015 5:57am EDT Brazil bets on rain, rules out power rationing in 2015 - TRFN BY ADRIANA BRASILEIRo RIO DE JANEIRO, May 19 (Thomson Reuters Foundation) - B razilian authorities have ruled out electricity rationing this year as a slowing economy and higher tariffs help reduce consumption. But water reservoirs in hydropower-dependent... Continue Reading →
Goldman Sees Oil at $45 by October After ‘Self-Defeating’ Rally
Goldman Sees Oil at $45 by October After ‘Self-Defeating’ Rally By Ben Sharples/Bloomberg 5:18 AM BRT May 19, 2015 Oil is poised to slump to $45 a barrel by October as a surplus of crude and producers’ easy access to cash weigh on the market, according to Goldman Sachs Group Inc. A recovery in prices... Continue Reading →
Oil M&A Activity Likely to Pick Up in 2016, Citi Says
Oil M&A Activity Likely to Pick Up in 2016, Citi Says By Harry Weber/Bloomberg 12:14 PM BRT May 19, 2015 Oil’s rebound and more certainty around company valuations are keys to driving mergers and acquisitions activity next year given the pent-up demand for deals, bankers said Tuesday at an energy forum in Houston. “The dam... Continue Reading →
Brazil Energy Insight 