Devon Energy Posts Loss on Impairments Company reports $5.46 billion of asset impairments, but raises full-year production goal By JOSH BECKERMAN May 5, 2015 9:20 p.m. ET Devon Energy Corp. posted a $3.6 billion net loss on $5.46 billion of asset impairments, although the energy company said production was higher than expected and it raised... Continue Reading →
Odebrecht Says Lula Was First to Open Cuba to Brazilian Business
Odebrecht Says Lula Was First to Open Cuba to Brazilian Business By Blake Schmidt Michael Smith / Bloomberg 12:00 AM BRT May 5, 2015 Odebrecht SA’s Chief Executive Officer Marcelo Odebrecht said his family’s Brazilian conglomerate relied on then-President Luiz Inacio Lula da Silva to open the way for business in Cuba. Odebrecht SA, owner... Continue Reading →
Occidental Names Hollub First Female CEO of Major Oil Company
Occidental Names Hollub First Female CEO of Major Oil Company by Joe Carroll 5:40 PM BRT May 5, 2015 Occidental Petroleum Corp. said Vicki Hollub, head of its oil and natural gas unit in the Americas, will be the first female chief executive officer of a major U.S. oil producer. Hollub is taking over all... Continue Reading →
Real Gains as Goldman Says Brazil Exporters Need Weaker Currency
Real Gains as Goldman Says Brazil Exporters Need Weaker Currency By Paula Sambo 10:37 AM BRT May 5, 2015 As the real climbed for the first time in five days, Goldman Sachs Group Inc. recommended that Brazil go further in relaxing support for the currency and let it decline more than 10 percent to support... Continue Reading →
EOG Will Resume Major Oil Growth at ‘Stable’ $65 Price
EOG Will Resume Major Oil Growth at ‘Stable’ $65 Price By Bradley Olson/Bloomberg 12:23 PM BRT May 5, 2015 An well pump near Sweetwater, Texas. Photographer: LM Otero/AP Photo EOG Resources Inc., the biggest shale-oil producer, will resume major growth in output once crude prices are stable at $65 a barrel. The company will likely... Continue Reading →
Brent hits new 2015 high as Saudi prices unveiled
Brent hits new 2015 high as Saudi prices unveiled 2 hours ago April 5, 2015 Financial Times International oil benchmark North Sea Brent hit another fresh high for the year on Tuesday, rising towards $68 a barrel as Saudi Arabia announced its official selling prices (OSPs) for next month. Brent rose as high as $67.78... Continue Reading →
Repsol Said to Send Brazil CEO to U.S. for Talisman Integration
Repsol Said to Send Brazil CEO to U.S. for Talisman Integration By Rodrigo Orihuela/Bloomberg 11:01 AM BRT May 5, 2015 Repsol SA, Spain’s largest oil company, will transfer the chief executive officer of its Brazilian operations to the U.S. to help integrate Talisman Energy Inc. into its operations, according to two people familiar with the... Continue Reading →
Goldman Sachs Prescribes Weaker Real to Support Brazil’s Exports
Goldman Sachs Prescribes Weaker Real to Support Brazil’s Exports By Paula Sambo/Bloomberg 10:37 AM BRT May 5, 2015 Goldman Sachs Group Inc. is recommending that Brazil’s central bank go further in relaxing support for the real and allow the currency to decline more than 10 percent to support the nation’s exporters. “Brazil spent the last... Continue Reading →
Latin America will be the hardest hit of emerging regions as the Fed tightens
http://www.ft.com/cms/s/0/9eb6d402-f30e-11e4-b98f-00144feab7de.html#ixzz3ZGdx1N2a EM SQUARED May 5, 2015 12:54 pm Latin America will be the hardest hit of emerging regions as the Fed tightens Dan Bogler/FT Investors heading back into the region should not get ahead of themselves ©Getty A striking feature of the latest updated forecasts from the International Monetary Fund was how sharply it cut growth estimates... Continue Reading →
Big Oil’s Best Margin Can’t Save Ecopetrol as Drilling Fizzles
Big Oil’s Best Margin Can’t Save Ecopetrol as Drilling Fizzles By Andrew Willis / Bloomberg 12:23 AM BRT May 5, 2015 Juan Carlos Echeverry, Chief Executive Officer of Ecopetrol SA, has said he plans to boost reserves and focus on the most profitable fields. Photographer: F. Carter Smith/Bloomberg Normally if one of the world’s most... Continue Reading →
