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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 →
Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in 1980, according to data the kingdom submitted to the Organization of Petroleum Exporting... Continue Reading →
Halliburton Co (HAL.N) and Baker Hughes Inc (BHI.N) have agreed with the U.S. Department of Justice to extend the date of the department's review of Halliburton's acquisition of Baker Hughes, a deal that would create an oilfield services behemoth. Read More
Drillers put rigs in U.S. oil fields back to work for a second straight week, suggesting the end of an unprecedented retreat from the country’s prolific shale formations. Rigs targeting oil in the U.S. increased by five to 645, Baker Hughes Inc. said on its website Friday. They rose by 12 last week. Natural gas... Continue Reading →
Petrobras - Order on the motion to dismiss in the U.S. action 07/10/2015 Rio de Janeiro, July 10th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the judge responsible for the U.S. action today issued an order on the motion to dismiss presented by Petrobras, partially granting the company's motion. The motion to dismiss... Continue Reading →
Oil prices may fall further as the world remains “massively oversupplied,” before markets tighten in 2016 when output growth outside OPEC grinds to a halt, according to the International Energy Agency. There will be no overall production growth outside the Organization of Petroleum Exporting Countries next year for the first time since 2008, according to... Continue Reading →
Brazil Energy Insight 