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Eduardo Cunha.Photographer: Evaristo Sa/AFP via Getty Images In the 19 months since a sprawling corruption scandal broke out at Brazil’s state-run oil giant, many people have come to represent the crisis through its twists and turns. President Dilma Rousseff, of course, has played that role for much of that time, but so have lesser-known types... Continue Reading →
Total SA posted a third-quarter profit that beat analysts’ forecasts as rising oil and gas production and growing profits from its refining operations helped the French company weather a slump in crude prices. Total’s adjusted net income fell to $2.76 billion in the third quarter, a decline of 23 percent from $3.56 billion a year ago,... Continue Reading →
Bloomberg PetroChina Co., the country’s biggest oil and gas producer, posted its worst quarterly profit as a plunge in crude prices punished revenue. Net income dropped to 5.2 billion yuan ($818 million), or 0.03 yuan a share, from 27.9 billion yuan, or 0.15 yuan, a year earlier, the Beijing-based company said in a statement to... Continue Reading →
Shell reported its biggest net loss in more than a decade after halting some operations and lowering oil-price expectations. Royal Dutch Shell Plc reported its biggest net loss in more than a decade after halting some operations and lowering its oil-price expectations, resulting in a $7.89 billion charge. The company, which is buying BG Group Plc... Continue Reading →
Petrobras - Clarification on News: Indemnification for piped gas service to Fafen 10/28/2015 Rio de Janeiro, October 28, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 3229/2015-SAE requests clarification, as transcribed below: BM&FBovespa Official Letter 3229/2015-SAE “A news item published in Valor Econômico newspaper on October 27, 2015 states, among... Continue Reading →
Petrobras - 3rd Quarter 2015 Results Release Date 10/27/2015 Rio de Janeiro, October 27th 2015 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 3rd Quarter 2015 results on November 12th, 2015, after the market is closed. Therefore, from October 29th to November 12th, the Company will be in quiet period, during... Continue Reading →
Opposition activists handcuffed themselves to a pillar in Brazil's Congress on Wednesday seeking the impeachment of President Dilma Rousseff for mismanaging a once-booming economy and undermining confidence in the country. The small protest inside the foyer of the lower chamber highlighted the growing pressure on Brazilian politicians to begin impeachment proceedings against a president struggling... Continue Reading →
Brazil’s real is no longer the world’s most-volatile currency. As the exchange rate slumped Wednesday, its three-month implied volatility, a measure of expectations for future price shifts, trailed that of Russia’s ruble for the first time in a month. While the gauge has surged 65 percent from this year’s low in January, it has tumbled 22... Continue Reading →
Oil majors had big plans for Brazil, but you can’t tell by looking at the country’s offshore drilling these days. After crude was first struck in the pre-salt formation in the seas off Rio de Janeiro, producers including BP Plc and Total SA were ready to flock to Brazil with billions of dollars in investments.... Continue Reading →
The decline in international oil prices handed Petroleos Mexicanos its biggest quarterly loss in company history. Pemex, as the Mexican state-owned oil producer is known, reported a loss of 167.6 billion pesos ($10.2 billion) in the third quarter. The world’s ninth largest crude producer has now reported losses in 12 consecutive quarters dating back to... Continue Reading →
