Total’s refining and chemicals unit limits decline in earnings

http://www.ft.com/cms/s/0/3a6ddd04-ed70-11e4-a894-00144feab7de.html#ixzz3YbWnVqUy Last updated: April 28, 2015 8:09 am Total’s refining and chemicals unit limits decline in earnings Michael Stothard in Paris ©AFP A tripling of net income at Total’s refining and chemicals unit helped the oil and gas major beat analysts’ expectations and offset the crippling effect of the 50 per cent fall in oil prices in its first-quarter... Continue Reading →

April 28, 2015 0

BP Profit Beats Estimates as Refining Offsets Oil’s Plunge

BP Profit Beats Estimates as Refining Offsets Oil’s Plunge By Rakteem Katakey / Bloomberg 3:10 AM BRT April 28, 2015 BP Plc reported first-quarter profit that was more than double analysts’ estimates as earnings from refining and trading offset lower crude prices. The first results this year from the world’s largest oil companies demonstrate the... Continue Reading →

April 28, 2015 0

Biggest Brazil Builder Freezes New Investments on Funding Fears, Odebrecht SA

Biggest Brazil Builder Freezes New Investments on Funding Fears By Blake Schmidt Michael Smith / Bloomberg 9:00 PM BRT April 27, 2015 Odebrecht SA Chief Executive Officer Marcelo Odebrecht said, “The big risk to Brazil’s growth in the next two years is the question of the credit outlook.” Photographer: Kiyoshi Ota/Bloomberg Odebrecht SA, Latin America’s... Continue Reading →

April 28, 2015 0

PDVSA’s Boost in Oil Well Spending Fails to Stem Output Declines

PDVSA’s Boost in Oil Well Spending Fails to Stem Output Declines By Pietro Pitts / Bloomberg 3:41 PM BRT April 27, 2015 A 62 percent increase in Petroleos de Venezuela SA’s 2014 exploration and development spending wasn’t enough to stem a near decade-long slide in crude output. PDVSA, as the state oil company is known,... Continue Reading →

April 27, 2015 0

Oil companies seek lasting cost cuts after crude price plunge

http://www.ft.com/cms/s/0/1e4570d0-ea5d-11e4-96ec-00144feab7de.html#ixzz3YWzOmn7w April 27, 2015 2:49 pm Oil companies seek lasting cost cuts after crude price plunge Ed Crooks and Christopher Adams in Houston/FT ©Bloomberg As oil companies grapple with the consequences of the plunge in the value of crude over the past nine months, some are coming to a paradoxical conclusion: they may be better off when... Continue Reading →

April 27, 2015 0

Fitch: BNDES’s Scale-Back an Opportunity for Brazil’s Banks

Mon Apr 27, 2015 11:55am EDT Fitch: BNDES's Scale-Back an Opportunity for Brazil's Banks (The following statement was released by the rating agency) NEW YORK, April 27 (Fitch) As Brazil's government-sponsored Banco Nacional de Desenvolvimento Economico e Social (BNDES) likely scales back its role in infrastructure financing, the federal government expects more active participation of... Continue Reading →

April 27, 2015 0

Brazil’s Former Ruling Party Treasurer Charged in Petrobras Case

Brazil’s Former Ruling Party Treasurer Charged in Petrobras Case By Raymond Colitt / Bloomberg 12:20 PM BRT April 27, 2015 The former treasurer of President Dilma Rousseff’s Workers’ Party was charged by Brazilian public prosecutors for his role in the corruption scandal at state-run oil company Petrobras. Vaccari is being accused of laundering money stemming... Continue Reading →

April 27, 2015 0

Brazil’s Real Climbs as Higher Rates Seen Attracting Investors

Brazil’s Real Climbs as Higher Rates Seen Attracting Investors By Filipe Pacheco 10:46 AM BRT April 27, 2015 Brazil’s real rose for a fifth straight day amid speculation that the central bank will increase borrowing costs by another half-percentage point this week, making local assets more attractive to international investors. The real gained 0.2 percent... Continue Reading →

April 27, 2015 0

The ghost in the Planalto/Dilma Rousseff is in office but no longer in power

Bello The ghost in the Planalto Dilma Rousseff is in office but no longer in power Apr 25th 2015 | From the print edition The Economist “DILMA Out, PT out,” rang the angry chants up and down São Paulo’s Avenida Paulista on a blazing Sunday afternoon on April 12th. They were echoed in towns and cities across Brazil.... Continue Reading →

April 27, 2015 0

Petrobras Fallout Pushes Even Untainted Borrowers Toward Default

Petrobras Fallout Pushes Even Untainted Borrowers Toward Default By Filipe Pacheco / Bloomberg 10:00 PM BRT April 26, 2015 The bribery investigation at Petroleo Brasileiro SA has already pushed two companies implicated by the alleged graft into default. Now, a cement producer untainted by the scandal -- but upended by its fallout -- risks joining... Continue Reading →

April 27, 2015 0