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Rio de Janeiro, Brazil – July 21, 2016 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: (NYSE: PBR) announces that holders of US$3,008,915,000 and €571,972,000 principal amount of the outstanding notes of the series set forth in the table below (all such notes, collectively, the “Old Notes” and each a “series” of Old Notes), issued... Continue Reading →
General Electric Co. is selling fewer locomotives and less oil-field equipment as global economic uncertainty takes a toll on demand for big-ticket industrial products. Orders fell 2 percent in the second quarter -- and tumbled 16 percent when excluding the effects of acquisitions and currency shifts -- the company said in a statement Friday. That... Continue Reading →
For oil companies, the second quarter might be as good as it gets. Shares gained more than in any other industry, thanks to crude rising from a 12-year low. Profits were the best in at least three quarters for majors including Royal Dutch Shell Plc, Chevron Corp. and BP Plc, helped by cost cuts, analysts say.... Continue Reading →
Keppel Corp., the world’s largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that’s caused quarterly profit to fall to the lowest in almost a decade. The company may consider reducing its workforce and mothballing some facilities in its rig-building operations because of excess capacity, the... Continue Reading →
The world’s two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash. Schlumberger Ltd. said Thursday that the oil industry appears to have reached the bottom of the cycle, echoing smaller rival Halliburton Co., which on Wednesday said the North American... Continue Reading →
Michel Temer may not have completely won over Brazilians since taking over as acting president in May, but he appears to be a big hit with investors. Brazil’s benchmark equity index has now soared almost 60 percent in dollar terms this year, while overseas government bonds have returned 26 percent. Investors have poured into Brazil on... Continue Reading →
Lenders could accelerate the disbursement of a $4.125 billion loan to Peruvian gas pipeline operator Gasoducto Sur Peruano GSP SA if Brazilian engineering group Odebrecht SA fully exits the project overseeing the construction of the pipelines, three people familiar with the matter said on Thursday. Odebrecht [ODBES.UL], which is ensnared in a corruption scandal in... Continue Reading →
Brazilian prosecutors have accused former President Luiz Inacio Lula da Silva and the co-founder of BTG Pactual SA, Andre Esteves, of trying to obstruct the sweeping corruption probe known as Car Wash. The federal prosecutor’s office said in a statement Thursday it filed the formal accusation with the Federal District’s justice system. In the filing,... Continue Reading →
JUL 19, 2016 Kenneth Rapoza/Forbes Opinions expressed by Forbes Contributors are their own. She’s baa-aack. Not yet anyway. Brazilian suspended President Dilma Rousseff surrounded by social justice warriors who have become the most outspoken critics of a conspiracy to unseat her from the presidency. Dilma is the most unpopular president in decades. The Petrobras scandal, in... Continue Reading →
By Guillermo Parra-Bernal/Reuters The Brazilian government could offer at least $1 billion in new global bonds maturing in February 2047 at a yield in the "very low 6 percent area," a person directly involved in the deal said on Thursday, signaling growing optimism among investors on the outlook for Latin America's largest economy. Brazil's National... Continue Reading →
Brazil Energy Insight 