Norway on Thursday got a new OSV player after Solstad Offshore, Farstad Shipping and Deep Sea Supply merged into one new company named Solstad Farstad. With the completion of the merger transactions announced on February 6, Wednesday marked the effective conception of the world’s largest offshore service vessel (OSV) company, Solstad Farstad. The new company... Continue Reading →
Petrobras announces the Settlement of the Early Redemption of Series of Notes maturing in 2018
Rio de Janeiro, Brazil – June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in June 20, 2017, has concluded the redemption of its 2.750% Global Notes due 2018, 5.875% Global Notes due 2018 and 4.875% Global... Continue Reading →
Business Model of Petrobras Distribuidora (BR)
Rio de Janeiro, June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Executive Board, at its meeting held today, has authorized the development of studies for an Initial Public Offer (IPO) of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR), turning this a subsidiary into a company listed on the B3 stock exchange’s... Continue Reading →
Brazil Carry Trade Beckons Investors Ignoring Political Risk
Investors scared off by Brazil’s political turmoil are returning to its currency, lured by the potential for Latin America’s second-highest carry return. The selloff in the real immediately after fresh corruption allegations were leveled at President Michel Temer last month has now subsided, with one-month price swings falling below expected volatility levels based on options... Continue Reading →
Fate of graft probe rests on Brazil top court vote on plea deals
Brazil's Supreme Court is expected to rule on Thursday whether terms of plea bargains struck in the nation's sweeping corruption probes can be revised by the full court, a move critics worry could sharply weaken the most potent weapon prosecutors wield in rooting out graft. The court on Wednesday began debating that topic, and two... Continue Reading →
Mexico Awards 10 of 15 Blocks in Oil Auction/WSJ
All of them located in shallow waters of the Gulf of Mexico Juan Carlos Zepeda, president of the National Hydrocarbons Commission, which is Mexico’s energy regulator and organizer of the auctions, at the auction Monday in Mexico City. PHOTO: REUTERS By Robbie Whelan June 19, 2017 MEXICO CITY—Mexico awarded 10 blocks of oil and gas... Continue Reading →
Brazilian police deliver graft investigation against Temer
Brazil's federal police on Tuesday delivered to a top court justice the bulk of their investigation into allegations that President Michel Temer took bribes in exchange for political favors doled out to the world's largest meatpacker, JBS SA. The document, made public by the top court, is a significant step in the investigation, which is... Continue Reading →
Changes to the Executive Board of Petrobras Distribuidora (BR)
Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Board of Directors of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR) approved yesterday the extension of the term of office of President Ivan de Sá Pereira Júnior and Officers of Operations and Logistics, Marcelo Fernandes Bragança, and Consumer Market, Antonio... Continue Reading →
Petrobras Announces Early Redemption Prices for Notes Due 2018
Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to holders in connection with its redemption of the outstanding 2.750% Global Notes due 2018 (“2.750% Notes”), 5.875% Global Notes due 2018 (“5.875% Notes”) and 4.875% Global... Continue Reading →
Senate setback for Brazil’s Temer rattles reform agenda, markets
A Brazilian Senate committee on Tuesday rejected President Michel Temer's labor reform bill, in an unexpected blow to his administration that does not kill the pro-market proposal but shows weakening support for his agenda. Even after being rejected in the social affairs committee by 10 to 9 votes, the proposal moves to the constitutional and... Continue Reading →
