Aug 15 Workers at BR Distribuidora, the fuel unit of Brazil's state-owned oil company began a planned five-day strike on Monday to protest the planned sale of control of the distributor, the president of a union representing striking workers said. Employees of BR, formally known as Petrobras Distribuidora SA, are attempting to block fuel distribution... Continue Reading →
Ecopetrol Misses Profit Estimate as Oil Fall Blunts Cost Cutting
Ecopetrol SA, Colombia’s state-controlled oil producer, reported profit that missed analysts’s estimates as slumping crude prices overshadowed efforts to lower costs. Net income fell to 787 billion Colombian pesos ($269 million) in the second quarter from 1.51 trillion pesos in the same period last year, the Bogota-based producer said Tuesday in a statement distributed by... Continue Reading →
Brazil’s Fiscal Plan Could Falter Without Pension Reform
Acting President Michel Temer’s prized fiscal austerity proposal to cap public spending will only succeed if he can convince Brazil’s Congress to pass a controversial pension reform as well, according to a leading member of his economic team. While Temer’s administration is confident it can win congressional approval this year of a constitutional amendment to limit federal spending,... Continue Reading →
Technip and DOF announce the delivery of Skandi Açu and commencement of contract with Petrobras
August 16, 2016 01:00 AM Eastern Daylight Time Regulatory News: “This new state-of-the-art PLSV, with the most advanced pipelay equipment and highest flexible pipelay tension capacity in the world, demonstrates again our extensive ultra-deepwater pipelaying experience, and our commitment to enable projects offshore for our clients.” Tweet this Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and DOF... Continue Reading →
Petrobras Result Announcement 2Q 2016
Petrobras announcement presentation 2Q 2016 Webimar and Excel Presentaion Petrobras presentation 2Q2016 PBR RMF 2Q-2016-Excel presentaion
Brazil has few options to limit real’s surge, official says
Aug 15 There is not much the Brazilian government can do to halt an appreciation in its real currency that is set to continue, given high liquidity abroad and less political uncertainty at home, a senior member of the economic team told Reuters. The government will rely on reducing its traditional currency swaps position to... Continue Reading →
TRANSOCEAN AND DIAMOND SHOWING INTEREST IN BRAZIL
Two major international rig operators, Transocean and Diamond, released their results for the first half and commented on their outlook for Brazil. Executives of both companies showed optimism about the possibilities of new foreign investments in the country that are emerging on the horizon. The senior vice president of Diamond, Ronald Woll, said during an... Continue Reading →
Brazil’s Nascent Recovery Can’t Conceal Challenges Still to Come
Brazil’s economy is pulling out of its tailspin, and now traders are watching to see how quickly acting President Michel Temer can get the country flying again. Investors, who pushed the nation’s stocks, bonds and currency to world-beating gains this year on anticipation a new government would restore growth, are seeing some signs their optimism... Continue Reading →
Maersk Gains as Company Meets Tough Market With Cost Cuts
A.P. Moeller Maersk A/S shares gained as Denmark’s biggest company met punishing market conditions with cost cuts in order to create a leaner business. The company’s B-shares rose as much as 6.9 percent after the market opened on Friday, and traded 5 percent higher at 9,520 kroner as of 9:34 a.m. in Copenhagen. Maersk reported... Continue Reading →
Brazil state development bank BNDES posts loss in first half
Reuters Aug 12 Brazil's state development bank BNDES, the nation's biggest source of long-term corporate funding, posted a net loss of 2.174 billion reais ($689 million) in the first six months of the year, reversing profit of 3.515 billion reais a year earlier. In a statement, the Rio de Janeiro-based lender said the build-up of... Continue Reading →
Brazil Energy Insight 