12/08/2015 Rio de Janeiro, December 8, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 524/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter no. 524/2015/CVM/SEP/GEA-1 “We refer to the article published in the Mercado (Market) section of Folha de São Paulo newspaper on December 4, 2015 entitled: “Without Sete’s rigs, Petrobras will... Continue Reading →
Brazil’s top court suspends temporarily impeachment of Rousseff
Brazil's Supreme Court has suspended impeachment proceedings against President Dilma Rousseff until it can rule on the constitutional validity of the opposition bid to impeach her, a court official said on Wednesday. Justice Luiz Edson Fachin decided late on Tuesday to suspend the appointment of an impeachment committee and all its proceedings until the top... Continue Reading →
Brazil Real Surges After Government Setback in Impeachment Fight
Brazil’s real rallied after the government suffered a setback in Congress that fueled speculation there may be more support to oust President Dilma Rousseff than previously expected. The real gained 0.8 percent to 3.7673 per dollar as of 10:13 a.m. in Sao Paulo. One-month implied volatility fell to 20.14 percent, still the highest among 16 major currencies... Continue Reading →
Offshore Supply Boats Facing Distress With Drop in Drilling Rigs
The relatively unheralded corner of the oil sector that sends supply boats out to offshore oil rigs may see bankruptcies as the worst crude market downturn in decades spreads. More than half of the public companies in the offshore supply-vessel industry face a high probability of restructuring or bankruptcy, according to research released Tuesday from... Continue Reading →
Brazil’s Congress names impeachment panel stacked against Rousseff
The lower house of Brazil's Congress voted on Tuesday to appoint a committee stacked with opponents of President Dilma Rousseff to study whether to impeach her for breaking budget rules, a blow to the leftist leader battling for political survival. In a secret ballot, lawmakers voted 272-199 for a list of committee members drawn up... Continue Reading →
CORRECTED-Brazil’s Petrobras offers to sell up to 10 pct of coveted offshore oil field
LONDON/RIO DE JANEIRO, Dec 8 Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion,... Continue Reading →
Brazil Real Drops on China Trade Data as Political Tensions Rise
Brazil’s real declined the most in a week after economic data from China, the country’s biggest trading partner, sparked a slump in currencies of commodity-producing nations. The real lost 1.1 percent to 3.8084 per dollar as of 11:28 a.m. in Sao Paulo, after rising as much as 0.6 percent earlier. A gauge of 20 developing-nation currencies declined... Continue Reading →
Brent Crude Drops Below $40 for First Time in Almost Seven Years
Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned any limits on crude output, prompting speculation that a record global glut will continue. Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009. Oil... Continue Reading →
Brazil senator, top banker charged with blocking Petrobras probe
Brazilian federal prosecutors presented formal charges against billionaire financier Andre Esteves and Senator Delcídio do Amaral on Monday, accusing them of obstructing a criminal investigation into state-run oil company Petrobras, according to a source familiar with the matter. Esteves, a founder and top shareholder of investment bank BTG Pactual SA and Amaral, who is President... Continue Reading →
Controlling shareholders of Brazil’s Prumo Logistica plan delisting
Mon Dec 7, 2015 Reuters Dec 7 The controlling shareholders of Brazilian port operator Prumo Logistica SA are planning to delist the company in a public offering that could be worth more than 800 million reais ($210 million), according to a securities filing on Monday. Prumo said its controlling shareholders will offer up to 1.15... Continue Reading →
