Tue Apr 7, 2015 10:37am EDT Petrobras expects a $14.3 bln loss on Comperj refinery -O Globo RIO DE JANEIRO, APRIL 7 (Reuters) - Brazil's state-run oil company Petrobras will lose at least $14.3 billion on its unfinished Comperj refinery, nearly 12 times more than the plant is expected to earn from operations over its... Continue Reading →
Sete Brasil signs memorandum suspending debt for 90 days
Mon Apr 6, 2015 4:47pm EDT Sete Brasil signs memorandum suspending debt for 90 days SAO PAULO, APRIL 6 (Reuters) - Brazilian oil rig producer Sete Brasil Participações SA said on Monday it signed a memorandum of understanding with its main creditors on March 31 that will suspend debt collection rights for 90 days. Earlier... Continue Reading →
Here’s How The Petrobras Scandal Is Helping Destroy Brazil’s Job Market
4/05/2015 @ 10:02PM 5,962 views Here's How The Petrobras Scandal Is Helping Destroy Brazil's Job Market Kenneth Rapoza/Forbes Brazil’s economy is expected to contract this year. But the biggest downer in the country is the enormous Petrobras scandal that is pulling the rug out from under thousands of low skilled workers. Civil construction is an important economic sector in... Continue Reading →
Here’s How Much Petrobras ‘Partners-in-Crime’ Lost In Oil Scandal
4/06/2015 @ 5:17PM 2,354 views Here's How Much Petrobras 'Partners-in-Crime' Lost In Oil Scandal Kenneth Rapoza /Forbes The Petrobras oil scandal is taking billions of dollars out of the coffers of construction majors that colluded with the Brazilian state-owned company in a decades old fraud scheme. But they are not the only ones feeling the pain. All told, five... Continue Reading →
Petrobras Probe Spurs Regulatory Fight on Leniency for Suppliers
Petrobras Probe Spurs Regulatory Fight on Leniency for Suppliers By Anna Edgerton 11:13 PM BRT April 6, 2015 Attorney General Luis Inacio Adams, seen here, said, “Of course companies need to be punished. They have to go through a process that’s perhaps traumatic to recover from. But that traumatic process shouldn’t necessarily mean the death... Continue Reading →
Petrobras Suppliers Negotiate Chinese Credit Deal, Chamber Says
Petrobras Suppliers Negotiate Chinese Credit Deal, Chamber Says By Peter Millard 6:04 PM BRT April 6, 2015 A group of Petroleo Brasileiro SA suppliers is negotiating about $3.5 billion in loans from Chinese institutions as China expands support for Brazil’s oil industry, the Brazil-China Chamber of Commerce & Industry said. About half of the more... Continue Reading →
Oil Surges on Signs of Growing Demand
Oil Surges on Signs of Growing Demand By TIMOTHY PUKO Updated April 6, 2015 3:51 p.m. ET Oil prices surged to their biggest gain in nearly two months, buoyed by signs of rising demand in the U.S. and Asia. Data provider Genscape Inc. reported that supplies in Cushing, Okla.—a key storage hub and the delivery... Continue Reading →
Brazil Analysts Boost 2015 CPI, Cut GDP for 14th Straight Week
Brazil Analysts Boost 2015 CPI, Cut GDP for 14th Straight Week By Mario Sergio Lima 8:41 AM BRT April 6, 2015 Brazil economists raised their estimate for 2015 inflation and cut their growth forecast for the 14th straight week, as the government contends with a combination of above-target inflation and stagnating activity. Analysts raised their... Continue Reading →
Political theatrics that are dividing Brazil
http://www.ft.com/cms/s/0/7117c462-d93b-11e4-a8f1-00144feab7de.html#ixzz3WWvdjOHr April 5, 2015 7:53 pm Political theatrics that are dividing Brazil Otavio Frias Filho/FT More than half of all Brazilians disapprove of Rousseff’s administration, writes Otavio Frias Filho ©EPA/Sebastiao Moreira Unrest: the Petrobras revelations have sparked protest To watch the political theatre now unfolding in Brazil is to behold a country licked by discontent... Continue Reading →
EIG Global Digs Deeper Into Brazil
EIG Global Digs Deeper Into Brazil Private-equity firm pours cash into businesses tied to two of the country’s biggest scandals Private-equity firm EIG Global Energy Partners is a big investor in Brazi’ls Acu port which has been under construction since 2007 in Rio de Janeiro state and is intended to help boost the country’s oil... Continue Reading →
Brazil Energy Insight 