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Brazil Charges First Lawmakers in Petrobras Graft Probe The former members of congress are accused of money laundering, embezzlement and other crimes Adir Assad (second left), Sonia Mariza Branco (third left, bottom), Lucelio Goes (top center) and former Petrobras executive Renato Duque (second right) are escorted by federal police as they leave the Institute of... Continue Reading →
For Big Oil, the Party’s Over in Alberta An election win by liberals strikes fear into the heart of Canada’s oil industry By Jeremy Van Loon/Bloomberg 6:23 PM BRT May 14, 2015 There’s a reason they call Alberta the Texas of the North. The province is home to Canada’s oil industry and produces more than... Continue Reading →
In Oil, Aberdeen Struggles With Price, Output Cost of production from North Sea is rising and jobs are disappearing Sean Murphy, an Aberdeen oil-rig supervisor, has been looking for work for months. PHOTO: JO HANLEY FOR THE WALL STREET JOURNAL By GEORGI KANTCHEV/WSJ May 14, 2015 1:43 p.m. ET ABERDEEN, Scotland—When he was laid off in December, Sean... Continue Reading →
Pemex Scraps Third Paragon Offshore Rig Contract as Woes Mount by Adam Williams Andrea Navarro/Bloomberg 4:40 PM BRT May 14, 2015 Petroleos Mexicanos abandoned a third rig contract with Paragon Offshore Plc this week as the state-owned oil producer reduces spending after prices collapsed. Paragon received notice this week that Pemex will return the L781... Continue Reading →
Thu May 14, 2015 2:06pm EDT Brazil president says to maintain oil rules, national content RIO DE JANEIRO/Reuters May 14 Brazilian President Dilma Rousseff said on Thursday that her government will maintain rules that mandate production-sharing contracts for the country's most promising areas and high national content requirements for the oil industry. "The local... Continue Reading →
Oil Servicers ‘Ugly’ Second Quarter Seen as Prompting Mergers By David Wethe/Bloomberg 9:30 AM BRT May 14, 2015 Deals among oil service companies trying to survive a collapse in crude prices are expected to pick up in the second half of the year as profits in the sector hit a low point. Demand for drilling,... Continue Reading →
Brazilian Real Advances as Fed Outlook Overshadows Levy Setback by Paula Sambo/Bloomberg 10:15 AM BRT May 14, 2015 i Brazil’s real led gains among major currencies as speculation the Federal Reserve will keep interest rates near zero overshadowed a setback in Finance Minister Joaquim Levy’s spending cut efforts. The real rose 1 percent to 3.0087 per... Continue Reading →
Brazil Congress Upsets Levy Measures With Push to Boost Pensions By Raymond Colitt Arnaldo Galvao/Bloomberg 7:44 PM BRT May 13, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Photographer: Michael Nagle/Bloomberg Brazil’s lower house approved an amendment that raises benefits for pensioners,... Continue Reading →
Shale-Oil Producers Ready to Raise Production Bringing shale-oil rigs back into service sets up the first big test of producers’ ability to react to rising crude prices A Pioneer Natural Resources oil rig in the Eagle Ford shale region of Texas. The company said last week it hopes to increase drilling and add two new... Continue Reading →
http://www.ft.com/cms/s/2/69350a3e-f970-11e4-be7b-00144feab7de.html#ixzz3a2uhthvG Last updated: May 13, 2015 6:56 pm Saudi claims oil price strategy success Anjli Raval in Riyadh/FT ©PA The New Oil Order Saudi Arabia says its strategy of squeezing high-cost rivals such as US shale producers is succeeding, as the world’s largest crude exporter seeks to reassert itself as the dominant force in the global oil market.... Continue Reading →
Brazil Energy Insight 