Tue Oct 13, 2015 7:41am EDT Brazil's Petrobras to sign $2 bln leasing contract with China's ICBC Reuters Petrobras press release Oct 13 Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement... Continue Reading →
Oil Giants to Miss Third-Quarter Profit Estimates, Barclays Says
The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. As a result, the veteran oil-industry analyst told clients in a note on Monday that... Continue Reading →
Brazil’s ‘new middle class’ struggles as economy plunges – the Achilles Heel of the PT
Until recently, Lucinelia de Jesus Souza's future seemed bright, running a small coffee shop that caters to factory workers and other blue-collar customers in this industrial suburb of São Paulo. But the faded pink counters of her shoebox-sized business, which opened a decade ago and blossomed as Brazil's economy grew quickly, now see fewer customers... Continue Reading →
UPDATE 1-OPEC sees more demand for its crude in 2016 as cheap oil hits rivals
OPEC forecast on Monday that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits U.S. shale oil and other rival supplies, reducing a global surplus. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) forecast the world would need 30.82... Continue Reading →
Petrobras Isn’t Only State-Run Company Unloved by Bond Traders
State-run companies are realizing government backing isn’t what it used to be. Tumbling commodities, a corruption scandal ensnaring Petroleo Brasileiro SA and slowing global growth are sapping demand for so-called quasi-sovereign debt across emerging markets, with state-backed companies in Brazil, South Africa, Colombia and Mexico faring the worst. Investors were demanding 1.09 percentage points more... Continue Reading →
Rousseff’s Most Powerful Foe Suffers Blow in Kickback Scandal
Eduardo Cunha, President Dilma Rousseff’s most powerful adversary, said he won’t resign as head of Brazil’s lower house even as some of his supporters in Congress urged him to leave following news reports that he received kickbacks. He denies any wrongdoing. The political blow, which Cunha blames on the federal prosecutor’s office, reduces his ability... Continue Reading →
Exclusive: Brazil’s Levy says he has president’s backing, isn’t quitting
Brazilian Finance Minister Joaquim Levy told Reuters on Saturday that President Dilma Rousseff backed his policies, and he intends to stay on the job as long as needed to put the books in order and pull the economy out of its slump. Market speculation that Levy, an orthodox economist widely respected among investors, was considering... Continue Reading →
Brazil’s Cunha Got Kickbacks From Petrobras Contract
Eduardo Cunha, the head of Brazil’s lower house, allegedly received kickbacks stemming from a Petrobras contract in Africa,Folha de S. Paulo reported Saturday, citing documents sent by the Swiss public prosecutor to local authorities. As head of the lower house, Cunha has the power to accept or reject impeachment requests that can be filed by any... Continue Reading →
Petrobras – Adjustments in the Business and Management Plan 2015-2019: Additional information
Petrobras - Adjustments in the Business and Management Plan 2015-2019: Additional information 10/08/2015 Rio de Janeiro, October 8, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby complies with Official Letter No 396/2015/CVM/SEP/GEA-1 which requests clarifications as follows: OFFICIAL LETTER No 396/2015/CVM/SEP/GEA-1 “We refer to the Material Fact disclosed by the issuer on October 5, 2015, ... Continue Reading →
Petrobras – Clarification on News Article: Divestment in Mature Fields
Petrobras - Clarification on News Article: Divestment in Mature Fields 10/09/2015 Rio de Janeiro, October 9, 2015 – Petróleo Brasileiro S.A. – Petrobrás hereby responds to Official Letter 401/2015/CVM/SEP/GEA-1, which requests the following clarifications: OFFICIAL LETTER no. 401/2015/CVM/SEP/GEA-1 We refer to the news article published on this date in O Globo newspaper, in the Economy,... Continue Reading →
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