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A fresh drop in in oil prices and political instability in Brazil is making investors miss out on about $5.5 billion in Royal Dutch Shell Plc’s pending takeover of BG Group Plc. BG closed on Monday at 990.4 pence, about 9.5 percent below Shell’s cash-and-stock offer. The difference in share prices in the deal -- the largest... Continue Reading →
Brazil's state-controlled oil producer Petroleo Brasileiro SA said on Tuesday it is in the last stages of negotiations with a Mitsui & Co Ltd Brazilian unit over the purchase of a minority stake in a natural gas holding company. In a securities filing, Petrobras said it is considering the sale of 49 percent of a... Continue Reading →
Brazil’s real fell to its lowest level since its introduction two decades ago on concern that President Dilma Rousseff won’t be able to shore up the country’s budget and avoid further credit-rating cuts. The currency sank to as low as 4.0142 per dollar, the weakest intraday level since its introduction in 1994. Futures on the... Continue Reading →
Petrobras ends contracts for two World Wide Supply PSVs zoom World Wide Supply AS, a company providing offshore shipping services for the global petroleum industry, has received notice of early termination of contracts for two of its platform supply vessels (PSVs) from Brazilian oil and gas giant Petrobras. Namely, the contracts were terminated for two 2013-built... Continue Reading →
Petrobras scraps deals for three Ultrapetrol’s vessels After early termination of contracts forWorld Wide Supply and Siem Offshore‘s vessels, Petrobras also terminated contracts for three Ultrapetrol’s platform supply vessels (PSVs). Namely, Ultrapetrol, an industrial transportation company serving marine transportation needs in river business, offshore supply business, and ocean business, announced Monday that it has received notification from... Continue Reading →
Statoil Brazil awards Peregrino OMM contract to Wood Group On behalf of the Peregrino licence partners, Statoil is awarding a contract to Wood Group to provide four-year operations and maintenance for our two wellhead platforms (Alpha and Bravo) and modification services for both units and the FPSO Peregrino. A well head platform on the Peregrino... Continue Reading →
It is the ugliest of round-trips for Brazil. It is near-13 years on from December 10, 2002, and a weak Brazilian real of 4.0040. Again, we move toward the 4.00 level today. Read More
Brazil’s collapsing currency has claimed its first victim: General Shopping Brasil SA bonds. The mall operator is offering to buy back as much as $50 million worth of its senior debt for a fraction of the face value: 51 cents on the dollar if bondholders accept by Sept. 29 and 48 cents if they wait... Continue Reading →
Petrobras former engineering head Renato Duque and former Workers’ Party Treasurer Joao Vaccari were sentenced to jail for corruption and money laundering in Brazil’s largest graft scandal, known as Carwash. The conviction is the first against key figures connecting the kickback scheme to higher echelons of President Dilma Rousseff’s Workers’ Party. Duque was sentenced by... Continue Reading →
(Reuters) - A massive corruption and political kickback scheme at Brazil's state-run oil company Petrobras started with former president Luiz Inacio Lula da Silva's chief of staff, a lead prosecutor said on Monday. Prosecutor Carlos Fernando dos Santos Lima said the bribery scheme at Petroleo Brasileiro SA, as Petrobras is formally known, had the same... Continue Reading →
Brazil Energy Insight 