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Brazil’s retail sales in May fell more than forecast by all but one analyst, prompting Goldman Sachs Group Inc. to predict a deeper recession in 2015. Swap rates fell. Sales fell 0.9 percent after a revised 0.5 percent decline in April, the national statistics agency said in Rio de Janeiro. That was worse than the... Continue Reading →
Moody's Investors Service is preparing a highly anticipated review of Brazil's credit rating with a visit to Brazilian policymakers and economists this week, market sources and the ratings agency said on Monday. Many analysts expect Moody's to downgrade Brazil's Baa2 credit rating by one notch at the end of its review process. Some fear it... Continue Reading →
Brazil’s real climbed to a one-week high as signs of weakness in the U.S. damped prospects for an increase in interest rates by the Federal Reserve and bolstered demand for riskier assets with better returns. Brazil’s economic team sees a credit rating downgrade by Moody’s Investors Service as almost unavoidable, Valor Economico reported Tuesday, without... Continue Reading →
Sonangol EP, the state-run oil company in Angola, is seeking $1 billion in cost savings by the end of the year to help cope with plunging crude prices. Sonangol said in February it will cut this year’s spending by 25 percent, end most retail fuel subsidies and reduce contract costs by as much as half.... Continue Reading →
As oil began crashing late last year, many prepared for a buying spree. Shale was going on sale. That sale has yet to show up. Deals have been active in the pipeline and processing sector, including Marathon Petroleum Corp.’s $15.8 billion deal today. But overall, global oil and natural gas deals so far this year... Continue Reading →
Petroleo Brasileiro SA’s $58 billion asset sale proposal would be unprecedented for the oil industry -- and for good reason. It may be impossible to pull off. The plan, released last week by the Brazilian state-run oil company known as Petrobras, calls for $15.1 billion in divestments by the end of 2016 and an additional... Continue Reading →
For bond investors in Brazil’s biggest construction company, the pain may have just begun. Odebrecht Finance’s $519 million of notes due 2025 have handed traders some of the biggest losses in emerging markets after the group’s chief executive officer was arrested June 19 as part of an unprecedented bribery investigation. The bonds have plunged 11.6... Continue Reading →
Mon Jul 13, 2015 7:44am EDT Brazil's inflation rate to reach 9.12 pct in 2015 - survey BRASILIA, July 13 Economists raised their forecasts for Brazil's end-2015 inflation rate but lowered their estimates for price increases next year, a weekly central bank survey showed on Monday. The median forecast of about 100 financial institutions in... Continue Reading →
Petrobras - Oil and Natural Gas Production on June 07/10/2015 Rio de Janeiro, Jully 10th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that, on June 2015, its oil and natural gas production was 2 million 746 thousand barrels of oil equivalent per day (boed), in Brazil and abroad, 0.7% lower than the volume produced... Continue Reading →
Riverstone Holdings LLC and Blackstone Group LP-backed Siccar Point Energy Ltd. are considering bidding for oil and gas fields in the North Sea that are being sold by Russian billionaire Mikhail Fridman’s LetterOne, people with knowledge of the situation said. The firms, as well as Rio de Janeiro-based oil producer PetroRio SA, are expected to... Continue Reading →
Brazil Energy Insight 