Court allows deals nearing completion to be finalised but further sales put on hold Reuters 8 Dec 2016 Brazil's federal auditing court (TCU) asked state-controlled oil company Petrobras on Wednesday to temporarily suspend its divestiture programme while the court reviews asset sales procedures. The decision could delay Petrobras efforts to raise $15.1 billion from asset... Continue Reading →
Brazil top court rules Senate head can stay, defuses crisis
Brazil's Supreme Court on Wednesday overturned an injunction that ordered the indicted head of the Senate, Renan Calheiros, to step down, voting to allow him to continue in the post but not in the presidential line of succession. The 6-3 ruling defuses a clash between the top court and the Senate that threatened to derail... Continue Reading →
Brazil’s Anbima says hedging crucial to lure foreign capital
The issue of designing effective instruments that protect long-term foreign investors from bouts of currency volatility in Brazil is crucial to helping lure capital for infrastructure in the years ahead, a financial industry group said on Wednesday. Financial institutions are currently discussing how to create so-called hedging instruments so that foreign funds and the infrastructure... Continue Reading →
The next ANP bidding round…
Unitization Petrobras and Statoil will act as one in the next round of bids which ANP foresees to be scheduled for the first semester of 2017. The duo promise to be aggressive on the auction of two assets: the block adjacent to Carcara , already operated by the Norwegians, and the adjacent area to Sapinhoa... Continue Reading →
Ecovix to file for bankruptcy protection this month -report
Dec 7 (Reuters) - Brazilian shipbuilder Engevix Construcoes Oceanicas (Ecovix) is expected to file for bankruptcy protection from creditors in a local court this month, the newspaper Valor Economico said on Wednesday. The company, based in Rio de Janeiro, has more than 6 billion reais ($1.7 billion) in outstanding debts, according to Valor. Ecovix... Continue Reading →
Aker Solutions Completes Acquisition of Majority Stake in Brazil’s C.S.E.
December 7, 2016 - Aker Solutions today completed the acquisition of 70 percent of Brazilian C.S.E. Mecânica e Instrumentação Ltda. Aker Solutions in October announced the agreement to buy the majority stake in C.S.E. The agreement includes an option for Aker Solutions to purchase the remaining 30 percent of the company three years from now.... Continue Reading →
Brazil Supreme Court deal might keep Senate head in place
Wed Dec 7, 2016 | Reuters Brazil's Senate President Renan Calheiros waves to journalists in Brasilia, Brazil December 6, 2016. REUTERS/Adriano Machado The Supreme Court is seeking an agreement to resolve Brazil's constitutional crisis that would allow indicted Senate head Renan Calheiros to stay on the job as long as he is not allowed to... Continue Reading →
Petrobras -Sales Process of Petrobras Distribuidora and Onshore Fields
Rio de Janeiro, December 5, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that today became aware of two decisions of the federal court of Sergipe state that granted injunctions in actions to suspend the divestment processes of the interest of its subsidiary BR Distribuidora and of the transfer of rights of oil and natural... Continue Reading →
Brazil’s Petrobras raises diesel, gasoline prices
Dec 5 Brazil's state-run oil company Petróleo Brasileiro SA (Petrobras) said on Monday it will raise prices for diesel and gasoline at its refineries in the country as of Dec. 6. Petrobras said it will increase diesel prices by 9.5 percent and gasoline by 8.1 percent. The company said the adjustments were made after a... Continue Reading →
Brazil’s indicted Senate head removed by Supreme Court
Brazil's Supreme Court on Monday removed Senator Renan Calheiros as president of the Senate after the top court indicted him last week on charges of embezzlement, a court spokesman said, a move that could put the government's belt-tightening agenda in peril. His replacement on Tuesday by Senator Jorge Vianna of the leftist Workers Party, who... Continue Reading →
Brazil Energy Insight 