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Brazil’s economy expanded at its fastest pace in one-and-a-half years in June, as improving business and consumer confidence drives an incipient recovery in industrial production and retail sales. The central bank’s seasonally adjusted economic-activity index, a proxy for gross domestic product, rose 0.23 percent in June from the previous month, after falling a revised 0.45... Continue Reading →
Main financial highlights 2Q-2016 x 1Q-2016 Net income attributable to the shareholders of Petrobras of R$ 370 million, compared to net loss of R$ 1.246 million in the 1Q-2016, as a result of: - A decrease of 30% in net finance expenses; - An increase of 7% in crude oil and natural gas total production;... Continue Reading →
Rio de Janeiro, August 12, 2016 - Petróleo Brasileiro S.A. - Petrobras announces that the member of the Board of Directors Walter Mendes de Oliveira Filho resigned from the position of member of the Board of Directors and from the position of Chairman of the Statutory Audit Committee of the Company. The Board of Directors... Continue Reading →
A recovery in oil output and refining margins helped Petrobras reverse three quarters of straight losses as the Brazilian producer emerges from two years of graft investigations and falling crude prices. More lucrative domestic gasoline sales helped compensate for falling demand amid Brazil’s ongoing recession, the company said in a filing Thursday. Petroleo Brasileiro SA,... Continue Reading →
Aug 11 (Reuters) - * Brazil's oil company Queiroz Galvão Exploração e Produção (QGEP) says not exercising first rights on Carcara field sale, satisfied with Statoil as new partner after sale of asset by Brazil's state-run oil company Petrobras Further company coverage: (Writing by Reese Ewing)
Paris-based International Energy Agency says, ‘Our balances show essentially no oversupply during the second half of the year’ August 11, 2016. By Summer Said/WSJ The world’s production of crude oil is falling behind demand, the International Energy Agency said Thursday. From July through September, global production of crude oil will lag behind demand by almost... Continue Reading →
(The following statement was released by the rating agency) LONDON, August 11 (Fitch) Investigations into allegations that Brazilian banks may have been involved in longstanding bribery of tax officials and members of the Tax Appeals Board to either waive or reduce tax payments could add to the pressures on the Brazilian banking sector, says Fitch... Continue Reading →
Rio de Janeiro, August 11, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its total production of oil and natural gas in July was of 2.89 million barrels of equivalent oil per day (boed), with the same level of the previous month, which was of 2.90 million boed. Of this total, 2.70 million boed... Continue Reading →
People leave the headquarters building of Petroleo Brasileiro S.A. (PETROBRAS) in Rio de Janeiro, Brazil, March 21, 2016. REUTERS/SERGIO MORAES Profit at Brazil's state-controlled oil company Petrobras likely more than tripled in the second quarter compared with a year earlier as investment cuts and declining financial losses helped make up for stagnant output and falling... Continue Reading →
Alpek SAB is studying a pivot toward South America with a record acquisition in Brazil -- and winning applause from investors. Shares have advanced 4 percent since the chemical maker said July 28 that it was exploring a purchase of two Petroleo Brasileiro SA polyester units. That’s almost twice the gain in Mexico’s benchmark IPC... Continue Reading →
Brazil Energy Insight 