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Odebrecht SA is rewarding some bondholders while others get burned. Notes issued by the holding company plunged Wednesday after newspaper Valor Economico reported executives had told creditors that it will inevitably file for bankruptcy. The bonds are the worst performers in Brazil this year, losing more than a third of their value, as speculation mounted... Continue Reading →
U.S. oil company Exxon Mobil Corp (XOM.N) expressed to Brazil's state-controlled company Petrobras (PETR4.SA) "strong interest" in the exploration of deep-water oil fields off the Brazilian coast, Petrobras Chief Executive Pedro Parente said on Tuesday. "Considering movements towards a strategic partnership, we have nothing concrete with Exxon, but they have certainly expressed strong interest in... Continue Reading →
Brazil's annual inflation rate is likely to hit a 6-1/2 year low and approach the government target, helped by easing food costs and moderating increases in the price of imports as the Brazilian currency strengthens, a Reuters poll showed on Wednesday. Consumer prices were seen rising 4.57 percent in the 12 months through March, down... Continue Reading →
Rio de Janeiro, April 5, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the Brazilian Administrative Board of Tax Appeals (CARF) issued yesterday a decision on an administrative tax procedure that upholds taxation, for the purposes of calculating the Income Tax of Legal Entities (IRPJ) and the Social Contribution on Net Profits (CSLL) for... Continue Reading →
Rio de Janeiro, April 4, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it concluded today the sale transaction announced on September 23, 2016, of 90% of the company's shares in Nova Transportadora do Sudeste ("NTS") to Nova Infraestrutura Fundo de Investimentos em Participações ("FIP"), managed by Brookfield Brasil Asset Management Investmentos Ltda, an... Continue Reading →
Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, fell 38 percent after warning its shareholders and bond investors they can expect steep losses in a debt restructuring process that was extended once again. The stock slumped 5.28 kroner to close at 8.69 kroner in Oslo on Tuesday, the lowest since it was listed in... Continue Reading →
Brazil's state-controlled oil firm Petroleo Brasileiro SA could reduce debt below a projected target of 2.5 times Ebitda by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. According to Parente, that would be possible if the company maintains the current trend of debt reduction. Petrobras has a debt load of... Continue Reading →
Oil company in talks to partner with Petrobras on offshore oil projects By BRADLEY OLSON and PAUL KIERNAN Updated April 4, 2017 10:41 a.m. ET Exxon Mobil Corp. XOM +0.02% , the only big oil company without a major foothold in Brazil, is in talks to gain access to the country’s prized deep-water resources, according... Continue Reading →
Brazil's top electoral court on Tuesday delayed proceedings in a landmark trial about illegal campaign funding that could lead to the removal of President Michel Temer less than a year after he took over from impeached leftist Dilma Rousseff. The Supreme Electoral Tribunal (TSE) decided to postpone a verdict until at least May to hear... Continue Reading →
Expectations are that investments in the fields will be around R $ 250 billion BY BRUNO ROSA/Globo 03/04/2017 4:30 / UPDATED 03/03/2017 8:10 RIO - The world's leading oil companies have started a marathon of meetings at Petrobras with an eye on the next four pre-salt auctions that the Brazilian government intends to do... Continue Reading →
Brazil Energy Insight 