Fri Aug 7, 2015 2:26pm EDT EMERGING MARKETS-Brazil's real ends six-day slump; Petrobras sinks Bovespa By Asher Levine SAO PAULO, Aug 7 Brazilian financial markets swung widely on Friday as investors digested disappointing corporate results, central bank currency intervention, U.S. labor data and political turbulence. The Brazilian real rose for the first time after a... Continue Reading →
Brazil’s Rousseff Says Efforts to Revoke Legitimacy Won’t Stand
Dilma Rousseff said attempts to undermine her legitimacy as Brazil’s president won’t stand following reports that a growing number of lawmakers support impeachment. “This country is a democracy, a democracy that respects above all else one thing: direct election by popular vote,” she said Friday during a speech in northern Brazil. “Nobody can take away... Continue Reading →
Petrobras Webcast Presentation 2Q 2015
Attached below is Webcast Presentation of the 2Q 2015 Results/ Webcast-2T15- Ingles
Former Petrobras executive charged, said to favor Vantage Drilling
Brazilian prosecutors on Thursday presented formal charges against Jorge Zelada, the former head of state-run oil firm Petrobras' international division, and five others, saying they favored U.S. company Vantage Drilling in a rig contract. The most recent charges presented in Brazil's largest-ever corruption scandal included money laundering and corruption, and Zelada will stand trial with... Continue Reading →
UPDATE 1-Petrobras to seek regulatory approval for fuel unit IPO
In a securities filing distributed early on Friday, Petrobras said the listing of BR Distribuidora would depend on global and domestic market conditions. Petrobras will pursue all the necessary authorizations from securities industry watchdog CVM as well as other regulatory agencies to carry out the transaction, the filing said. Petrobras did not specify terms of... Continue Reading →
UPDATE 3-Petrobras profit slumps; surprise writedown defies outlook
RIO DE JANEIRO, Aug 6 (Reuters) - Brazilian state-led oil company Petroleo Brasileiro SA said its second-quarter net income plunged 89 percent after a one-time charge for underperforming assets that caught analysts off guard. The 1.28-billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt,... Continue Reading →
Board of Brazil’s Petrobras approves plan for fuel unit IPO
Board of Brazil's Petrobras approves plan for fuel unit IPO SAO PAULO Aug 7 The board of Petróleo Brasileiro SA has approved a plan to request regulatory permission to list the state-controlled oil producer's fuel distrbution unit on the São Paulo Stock Exchange. In a securities filing distributed early on Friday, the company known as... Continue Reading →
Shell eyes new Brazilian assets ahead of BG deal
Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70 bln deal. Despite a broad drive to cut spending in the face of persistently low oil prices,... Continue Reading →
Brazil – Junk Rating Looming
Latin America's largest economy has a 70 percent chance of losing its investment grade rating in the next few years, according to the median estimate in a Bloomberg News survey of economists. Standard & Poor's said last week it may downgrade the country's rating and revised its outlook to negative from stable. Brazil's bonds are... Continue Reading →
Real Leads Declines as Brazil Central Bank Support Falls Short
The central bank almost doubled the amount of foreign-exchange swap contracts that it will offer to roll over Friday after a reduction in early July. Ibovespa futures dropped after Petroleo Brasileiro SA, the state-controlled oil company at the center of a burgeoning corruption scandal, reported earnings that trailed forecasts. The real dropped for a seventh... Continue Reading →
Brazil Energy Insight 