Brought to you by Quest Offshore & Southern Cone Consultants
Brazil’s real headed for a fourth straight weekly decline amid concern mounting political tension will make it harder for President Dilma Rousseff to trim budget deficits and maintain the nation’s credit rating. The currency fell Friday as Folha de S. Paulo reported that Eduardo Cunha, the head of the lower house, was preparing to announce... Continue Reading →
Petrobras - Clarification of Press Article: Costs Reduction 07/16/2015 Rio de Janeiro, July 16, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 2351/2015-SAE, as transcribed below: OFFICIAL LETTER 2351/2015-SAE “We request clarification, by 9AM July 17th, 2015, regarding the content of news released by O Estado de Sao Paulo, edition... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA is working to bring domestic diesel and gasoline prices into parity with international levels in order to attract downstream buyers or partners, a company executive said on Thursday. Petrobras, as the company is known, is looking to sell assets as it battles to survive a combination of mounting... Continue Reading →
The speaker of Brazil's lower house of Congress, Eduardo Cunha, will announce his break with the government of President Dilma Rousseff on Friday, according to Brazilian media. Cunha told Reuters he will hold a press conference at 11 a.m. (1400 GMT). It follows his statement on Thursday that he is weighing legal arguments to impeach... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA said late Thursday it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take a charge against second-quarter earnings. The payment includes 1.2 billion reais in back taxes and 400 million reais in fines and interest, Petrobras, as the... Continue Reading →
The political crisis engulfing Brazilian President Dilma Rousseff got a lot bigger Thursday, when the man who was both her mentor and predecessor was named as the target of a federal probe into foreign business transactions. Former President Luiz Inacio Lula da Silva, whose widespread popularity paved the way for Rousseff’s election in 2010, is... Continue Reading →
Brazil and Canada are among those “most in the firing line” at current prices, Paul Horsnell, the head of commodities research at Standard Chartered in London, said July 13. Brazil’s so-called pre-salt offshore fields, and Canada’s tar sands are “frontier” oil provinces where costs are higher because of their technical complexity or remoteness, he said.... Continue Reading →
Mexico is about to undergo its first subsea land rush. International energy producers that sat out Mexico’s historic auction of oil and natural gas fields this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month. Read More
Brazil’s former President Luiz Inacio Lula da Silva is being investigated by federal prosecutors on allegations of influence peddling in a move that may deepen the country’s political crisis. The real fell. Authorities are probing whether Lula used his influence to help construction company Odebrecht SA win contracts in Panama and Venezuela from 2011 to... Continue Reading →
The speaker of Brazil's lower house of Congress said on Thursday he is weighing legal arguments to impeach President Dilma Rousseff, which would be the first ouster of a sitting president in the country in nearly 23 years. Eduardo Cunha, a leader of the PMDB party that is in charge of deciding whether to move... Continue Reading →
Brazil Energy Insight 