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Halliburton Co., the world’s largest fracking services provider, said it had a third-quarter loss as the volatile North American oil market continued to tumble. The company reported a loss of $54 million, or 6 cents a share, compared with net income of $1.2 billion, or $1.41, a year earlier, the Houston-based company said in a... Continue Reading →
Petrobras - Oil and natural gas production in September 10/16/2015 Rio de Janeiro, October 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.72 million barrels of oil equivalent per day (boed) in September 2015, compared to 2.88 million boed produced... Continue Reading →
Brazil's federal police have opened a preliminary investigation into alleged irregularities in President Dilma Rousseff's re-election campaign last year. According to the media office of the federal police, the probe was opened on Oct. 7, following a decision by Justice Gilmar Mendes of the Superior Electoral Court to look into allegations of wrongdoing by the... Continue Reading →
Brazil’s Finance Minister Joaquim Levy complained to President Dilma Rousseff about his treatment among political allies, but fell short of stepping down. He said during a meeting with his boss that attacks from her supporters are making his job difficult, according to a government official with direct knowledge of the discussion, who asked not to be... Continue Reading →
Fitch Ratings will be in a better position in the next few months to assess Brazil's political environment, a key element in its decision on whether to strip the country of its investment grade rating, a senior analyst with the agency said on Friday. Fitch's senior director, Shelly Shetty, said in a conference call that... Continue Reading →
Ladies and gentlemen, 2016 has been canceled. Thanks for coming. Schlumberger, the oilfield services giant, sure knows how to kill the mood -- which wasn’t great in the oil patch anyway. Its third-quarter results, reported late on Thursday, were broadly unremarkable. The company beat earnings estimates slightly, largely at the tax line, and displayed the... Continue Reading →
For much of the past year, Petroleo Brasileiro SA’s unrelenting rout has pushed down bond prices to new lows day after day. Now, Deutsche Bank AG is finally starting to see value in the state-controlled oil producer’s debt. The strategy is simple: buy its $3.35 billion of notes due in 2017 -- whose yields have more... Continue Reading →
Petrobras - Clarification on news: Notice from the Bahia state government against the sale of Gaspetro 10/15/2015 Rio de Janeiro, October 15, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby complies with OFFICIAL LETTER 409/2015/CVM/SEP/GEA-1, which requests clarifications as follows: OFFICIAL LETTER No 409/2015/CVM/SEP/GEA-1 “We refer to the news article published on this date in... Continue Reading →
Petrobras - Fitch reaffirms Petrobras’ global ratings 10/15/2015 Rio de Janeiro, October 15th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch has reaffirmed Petrobras’ global ratings at BBB-, with a negative outlook. Thus, Petrobras continues to be classified as an investment grade company for this agency. Fitch points out in... Continue Reading →
Brazil’s real weakened the most among major currencies on speculation the government will change this year’s budget target to show a deficit, highlighting its inability to shore up the country’s finances. Officials will revise this year’s budget target for the third time, forecasting a deficit excluding interest payments of 0.3 percent of gross domestic product, worse than the... Continue Reading →
Brazil Energy Insight 