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General Electric Co. may not grow this year as low oil prices, a strong dollar and a sluggish economy crimp demand for oilfield equipment and locomotive parts, a setback for Chief Executive Officer Jeffrey Immelt as he pursues a sharpened focus on manufacturing. The stock fell the most in more than a month after GE... Continue Reading →
20 Out, 2016 Norwegian engineering consultancy Aqualis Offshore was contracted by Japanese company Modec and the BrasFELS shipyard to provide services in three platform ships for the pre-salt layer. Modec contracted Aqualis to work for the integration of the FPSO City Campos dos Goytacazes MV29 in the BrasFELS shipyard in Angra dos Reis, in the... Continue Reading →
Rio de Janeiro, October 21, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that it is beginning negotiations with Tereos Internacional S.A. regarding the sale of 45.9% interest of Petrobras Biocombustível in the sugarcane company Guarani S.A. and that it is in progress the hiring of Banco Itaú BBA to advise in the transaction. The... Continue Reading →
Global Credit Research - 20 Oct 2016 Approximately USD3.1 billion of Debt Securities Affected New York, October 20, 2016 -- Moody's Investors Service, ("Moody's") Moody's Investors Service downgraded to Caa1 from B3 the foreign currency rating assigned to the senior unsecured notes issued by Odebrecht Finance Ltd. (OFL) and guaranteed by Odebrecht Engenharia e... Continue Reading →
Brazilian oilworkers' unions said they rejected a sweetened pay offer from Petroleo Brasileiro SA in annual salary talks on Wednesday, raising chances of a second major strike in two years at the state-led oil company. Petrobras, the world's most indebted oil company, offered to raise base salaries for its more than 50,000 employees by 6... Continue Reading →
Keppel Corp., which has already eliminated more than a quarter of its workforce this year, said "painful measures" and job cuts will continue as profit at the world’s biggest oil-rig builder drops. Senior managers at the Singapore-based company have taken a cut in their monthly pay and directors will propose lower fees, Keppel said in... Continue Reading →
Brazil’s central bank cut its benchmark interest rate on Wednesday for the first time in four years, giving a significant boost to President Michel Temer’s efforts to kickstart the country’s economy. The central bank’s board led by President Ilan Goldfajn voted unanimously to cut the so-called Selic rate by a quarter-point to 14 percent, in... Continue Reading →
Big Oil to Start Spending Again After Two-Year Slump Major oil companies are beginning to invest in projects as oil prices show signs of recovery By SARAH KENT and KEVIN BAXTER/WSJ Updated Oct. 18, 2016 1:04 p.m. ET LONDON—The prospect of rising oil prices has the global energy industry considering a strategy that has been unthinkable for... Continue Reading →
Brazil’s ‘Frank Underwood’ arrested on corruption charges by: Samantha Pearson Brazilian police have arrested Eduardo Cunha, the powerful former speaker of the lower house and one of the country’s most hated figures, over corruption at state oil company Petrobras. Mr Cunha, who masterminded the impeachment of former president Dilma Rousseff, was detained at his apartment... Continue Reading →
17/10 / 2016 ABEGAS Redacao Notícias The creation of a new derivative pricing policy is an important step for Petrobras to overcome an obstacle that many considered insurmountable in the asset sales strategy implemented by the company: the aim of finding partners for the refining area. The strategy, unveiled at the company's Business Plan... Continue Reading →
Brazil Energy Insight 