The long wait may finally be over. Since the great crash of oil in mid-2014, more than $100 billion has been raised by buyout firms and distressed-debt funds eager to scoop up energy assets on the cheap. But as the months rolled by, few opportunities cropped up as cash-starved drillers limped along with the help... Continue Reading →
Odebrecht Hires Top Brazil Lawyer Munhoz for Restructuring
Odebrecht SA, the once-powerful Brazilian construction firm with 110 billion reais ($35.2 billion) in debt, hired Eduardo Munhoz, founding partner at E.Munhoz Advogados, to help with the “company restructuring process.” Munhoz was hired by the holding company about six months ago and has been working with Odebrecht Agroindustrial on its successful 13 billion-real debt restructuring... Continue Reading →
Standoff with Petrobras drives Odebrecht Oil and Gas closer to bankruptcy protection
Petrobras asked Odebrecht Oil and Gas (OOG to paralyze work in four out of six drilling rigs that are active, that can lead to equipment supplier to seek bankruptcy protection, according to two sources familiar with the matter. Banks and OOG investors are monitoring the situation with concern. The company had already negotiated with investors... Continue Reading →
Brazil’s Messy Impeachment Drama Almost Over. Markets Can’t Wait
Even after Brazil outperformed almost all other major markets this year, analysts and fund managers say there’s still room for further gains if suspended President Dilma Rousseff is impeached in coming weeks. Rousseff’s permanent ouster would clear the way for acting President Michel Temer to get on with the fiscal reforms investors have been pushing... Continue Reading →
Clarification on News: Legal dispute between Petrobras Distribuidora and WTorre
Rio de Janeiro, August 9, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 347/2016-CVM/SEP/GEA-1, which requests the following clarifications: Ref.: Official Letter No. 347/2016-CVM/SEP/GEA-1 “Mr. Director, We refer to the news item published on August 7, 2016, in the newspaper O Estado de São Paulo, editorship Coluna do Estadão,... Continue Reading →
Brazil’s Senate indicts Rousseff, opens impeachment trial
President of Brazil's Supreme Court, Ricardo Lewandowski and Brazil's Senate President Renan Calheiros speak during a discussion before the Senate votes on whether suspended President Dilma Rousseff should stand trial for impeachment, in Brasilia, Brazil, August 9, 2016. REUTERS/ADRIANO MACHADO Brazil's Senate voted early on Wednesday to indict President Dilma Rousseff on charges of breaking... Continue Reading →
Brazilian Offshore sector will receive more than $ 100 billion in investments by 2025
09/08/2016 The Brazilian offshore sector will receive US $ 116.2 billion in investments between 2016 and 2025, according to GlobalData. The amount represents 13% of the $ 871.7 billion to be invested globally over the next nine years. Of the total invested in Brazil, US $ 90.9 billion will be invested by Petrobras, which... Continue Reading →
Petrobras seeks to annul fuel unit contract in Brazil court
Aug 9 Reuters State-controlled Petróleo Brasileiro SA said on Tuesday that it is seeking to get a contract for the construction of a fuel distribution unit annulled in a Brazilian court, after the plan became subject to increased scrutiny for alleged graft. In a securities filing, Petrobras said it has initiated legal actions against WTorre... Continue Reading →
Brazil Senate meets to indict suspended President Rousseff
Brazil's Senate met on Tuesday to vote on whether to indict President Dilma Rousseff on charges of breaking budget laws, in the long-awaited start of the trial phase of impeachment proceedings against her. With Brazil's attention focused on the Olympic Games in Rio de Janeiro, senators in the capital Brasilia began to decide the country's... Continue Reading →
For Oil Companies $110 Billion Debt Wall Looms Over Next 5 Years
The worst may be yet to come for some strained oil services companies as $110 billion in debt, most of it junk rated, creeps closer to maturity. More than $21 billion of debt from oilfield services and drilling companies is estimated to be maturing in 2018, almost three times the total burden in 2017, according... Continue Reading →
Brazil Energy Insight 