RIO DE JANEIRO, Oct 14 (Reuters) - Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on Wednesday. The reduction comes after a decline in oil prices,... Continue Reading →
Brazil’s Next Big Crisis Is Scaring Bankers and Wiping Out Jobs
In the smog-filled, run-down industrial hubs that ring the southern end of Sao Paulo, Brazil’s next big crisis is taking root. The labor market, long the country’s lone economic bright spot as growth stagnated, is suddenly deteriorating rapidly, drivingunemployment all the way up to 7.6 percent from a record-low 4.3 percent at the end of... Continue Reading →
Brazil cuts oil output outlook; says fuel imports to continue
Wed Oct 14, 2015 Brazil cuts oil output outlook; says fuel imports to continue Reuters Oct 14 Brazil's oil regulator ANP cut its outlook for petroleum production in Brazil to 4 million barrels a day in 2025 or 2026 from 4.5 million barrels a day in 2022, the agency's director general Magda Chambriard said on... Continue Reading →
Brazil Real Joins Currencies Higher as Fed Bets Outweigh Turmoil
Brazil’s real followed a rally in major currencies against the dollar as global appetite for riskier assets overwhelmed concerns about the outlook for Latin America’s largest economy amid political strife. The real rebounded from the biggest slide since 2011 as disappointing economic reports out of China and the U.S. spurred wagers the Federal Reserve will... Continue Reading →
Brazil’s Rousseff gains time to avert impeachment
A Supreme Court ruling on Tuesday won President Dilma Rousseff more time to muster votes in Congress to block opposition efforts to impeach her on charges of manipulating government accounts. Opposition parties had planned to force a vote in the lower house that could have opened proceedings to impeach the president as early as this... Continue Reading →
Rousseff accuses Brazil opposition of ‘coup-mongering’
Brazilian President Dilma Rousseff said on Tuesday her opponents are trying to overthrow a democratically elected government by seeking to oust her without any material facts while spreading hatred and intolerance across Latin America's largest country. Speaking to a gathering of union leaders late on Tuesday, Rousseff said the political opposition is practicing "deliberate coup-mongering"... Continue Reading →
Impeachment Decision Delayed as Brazil Legal Wrangling Heats Up
Brazil’s lower house chief suspended a decision whether to start impeachment proceedings as the Supreme Court questioned his guidelines for ousting a president. A Supreme Court justice on Tuesday issued an injunction against impeachment procedures laid out by lower house PresidentEduardo Cunha. Justice Teori Zavascki said Cunha couldn’t singlehandedly establish guidelines for Congress to remove... Continue Reading →
No Sea Change for Oil: Liam Denning
In its latest monthly report, out Tuesday, the International Energy Agency mentioned that some oil at European and Asian trading hubs was now being stored on vessels, despite prices not really justifying the cost. The implication is that regular storage tanks are getting a tad full. With oil prices having traded in a band between... Continue Reading →
Brazil’s Real, Ibovespa Lead World Losses Amid Political Crisis
Brazil’s real and stocks led declines among the world’s biggest markets as heightened political turmoil and data showing weakness in the nation’s top trading partner added to concern Latin America’s largest economy will falter. The real posted the biggest slump among the world’s 16 major currencies, and the Ibovespa headed for its worst loss this year after a... Continue Reading →
Petrobras – Financing Agreement with ICBC Leasing
Petrobras - Financing Agreement with ICBC Leasing 10/13/2015 Rio de Janeiro, October 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that it concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a... Continue Reading →
Brazil Energy Insight 