The real slipped as the U.S. economy advanced more than forecast, bolstering the dollar and dimming appetite for the world’s most-profitable carry trade. In a carry trade, investors borrow money in a low-yielding currency to invest it in a country with higher yields. Brazil’s benchmark interest rate is 14.25 percent -- more than 28 times... Continue Reading →
Brazil oilworkers reject Petrobras offer, prepare for strike
Thu Sep 29, 2016 | Reuters Brazil's largest oilworkers' federation, FUP, said on Thursday that its members voted overwhelmingly to reject a contract offer from Petroleo Brasileiro SA, or Petrobras, and are preparing for a strike. The union plans to continue talks with Petrobras starting at 2 p.m. (1700 GMT) in Rio de Janeiro and... Continue Reading →
Petrobras – Approval of Dividends Policy and Appointment Policy for Board of Directors, Executive Officers and Fiscal Council members
Rio de Janeiro, September 28, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors approved, at a meeting held today, the Dividends Policy and Appointment Policy for members of the Executive Board, Fiscal Council, Board of Directors of Petrobras and external participants who integrate its advisory committees. The Dividends Policy... Continue Reading →
Update – Brazil should pass law easing Petrobras subsalt rights this year: IBP
A bill ending the requirement that Brazil's state-controlled oil company Petrobras lead all new projects in the country's Subsalt Polygon region should become law by the end of the year, the president of oil industry association IBP said on Wednesday. Petroleo Brasileiro SA, as the company is formally known, has repeatedly said its debt and... Continue Reading →
Statoil Brazil chief says looking at Brazil subsalt opportunities
Wed Sep 28, 2016 | 12:34pm EDT The President of Statoil in Brazil said on Wednesday that the Norwegian oil producer is looking at opportunities in Brazil's offshore oil region known as the Subsalt Polygon. Brazil's government is seeking to end a requirement that state-run firm Petrobras operate all oil fields in the Subsalt Polygon... Continue Reading →
OPEC Agrees to First Oil Output Cut in Eight Years
OPEC agreed to cut production for the first time in eight years, according to a delegate briefed on the matter, sending oil prices more than 6 percent higher as Saudi Arabia and Iran wrong-footed traders who expected a continuation of the pump-at-will policy the group adopted in 2014. In two days of round-the-clock talks in Algiers,... Continue Reading →
Sale of Petroquímica Suape and Citepe: Extension of the Negotiations
Rio de Janeiro, September 27 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to negotiations for the sale of its stakes in Companhia Petroquímica de Pernambuco (Petroquímica Suape) and Companhia Integrada Têxtil de Pernambuco (Citepe), disclosed by Material Fact in 07/28/2016, informs that the negotiations with Alpek continue, having been extended for another 30... Continue Reading →
Brazil’s Economy Probably Starting to Rebound, Moody’s Says/WSJ
Analyst says investor confidence is slowly returning A vendor, left, handed a shopper change at a street market in São Paulo in July. Brazil’s expansion could surprise on the positive side in 2017, a Moody’s analyst said Tuesday. PHOTO: BLOOMBERG NEWS By LUCIANA MAGALHAES Sept. 27, 2016 SÃO PAULO—Brazil’s economy has probably started to rebound... Continue Reading →
Brazil senator, husband indicted in Petrobras scandal
Brazilian Senator Gleisi Hoffmann and her husband, who both served in the ousted government of former President Dilma Rousseff, were indicted on Tuesday by the Supreme Court on corruption and money laundering charges in the Petrobras graft investigation. Hoffmann, who was chief of staff to Rousseff during her first term, and husband Paulo Bernardo, will... Continue Reading →
Mexico’s Alpek gets extension for talks over Petrobras units purchase
| Tue Sep 27, 2016 / Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Cubatao, Brazil, April12, 2016. REUTERS/Paulo Whitaker Mexican company Alpek said on Tuesday it had received a 30-day extension for exclusive talks to purchase petrochemical units of Brazilian state oil firm Petrobras (PETR4.SA). Petrobras in... Continue Reading →
Brazil Energy Insight 