Thu Aug 27, 2015 11:08am EDT Reuters Petrobras needs $4.3 bln to finish 1st unit at Comperj refinery Aug 27 Brazil's state-run oil company Petroleo Brasileiro SA needs $4.3 billion to complete the first 165,000 barrel-a-day operating unit at its stalled Comperj refinery outside Rio de Janeiro, the company's refining chief said on Thursday. The... Continue Reading →
Oil Exploration Companies Scramble to Cut Costs
When oil prices started falling last summer, Genel Energy PLC, a small exploration company listed here, asked the government of Ethiopia to extend its exploration license, so it could put off drilling and save some cash. Across the industry, international wildcatters like Genel are renegotiating drilling commitments, selling off stakes in licenses and canceling plans... Continue Reading →
Brazil’s Senate confirms reappointment of prosecutor general
Brazil's Senate confirmed on Wednesday the reappointment of Prosecutor General Rodrigo Janot, who is leading a massive corruption investigation that has put dozens of politicians under scrutiny for allegedly receiving kickbacks. The Senate voted in favor of Janot's reappointment 59-12 after lawmakers questioned him for more than 10 hours about the investigation focused on a... Continue Reading →
Brazil considers reinstating tax on financial transactions
The Brazilian government is considering reviving a financial transaction tax known as the CPMF to try to narrow a large fiscal gap in 2016, three leading newspapers reported on Thursday. A plan to recreate the CPMF is part of the budget proposal for 2016 that is being discussed by President Dilma Rousseff and her economic... Continue Reading →
UPDATE 2-Brazil near deal on firms hit by Petrobras probe
Brazil's government is working on a deal to allow construction companies implicated in a massive corruption scandal to resume doing business with state-run oil company Petrobras in exchange for paying fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be identified because negotiations are not... Continue Reading →
Petrobras fuel tank explodes in Brazil, killing two
A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. (1300 GMT) while workers were doing planned maintenance on the heating unit, said the press... Continue Reading →
Cameron Purchase Hails More Deals: Real M&A
Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. The world’s biggest oilfield contractor agreed on Wednesday to buy pump-and-valve maker Cameron for about $66.36 a share in cash and stock. It’s the second-largest oil and gas services deal on record after No. 2 Halliburton Co. agreed to buy No. 3 Baker Hughes... Continue Reading →
These Emerging Market Companies Are Being Stifled by $23 Billion Worth of Debt
A $23 billion pile of debt is stifling emerging-market companies already strained by the tumble in commodity prices to 16-year lows and weaker currencies. The bonds in U.S. dollars, which come due before the end of 2016, have become more expensive to roll over or repay after the selloff triggered by China’s yuan devaluation this... Continue Reading →
UPDATE 1-Brazil near deal on firms hit by Petrobras probe
Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be named because negotiations are... Continue Reading →
Brazil judge says president’s ex-chief of staff may have been bribed
A federal judge in Brazil overseeing a sweeping corruption investigation said on Tuesday there were signs that President Dilma Rousseff's former chief of staff had received bribes. Judge Sergio Moro asked the Supreme Court to authorize an investigation into whether a graft case involving Brazil's planning ministry may have benefited Gleisi Hoffmann, now a senator... Continue Reading →
Brazil Energy Insight 