Brazil's state-run oil producer Petroleo Brasileiro SA, known as Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Read More
ANP says 17 Companies Interested in Bidding in Upcoming Auction
Brazil's oil regulator ANP said on Thursday that 17 companies from eight countries are interested in bidding for oil exploration and production rights in an upcoming auction. Read More
ANP Expects U$870 Million in Exploration Work from Auction in October
Oil companies are expected to invest about 2.8 billion reais ($870 million) to complete minimum exploration work at concessions Brazil plans to auction in October, according to the country’s oil regulator. ANP expects signing bonuses for the offshore and onshore blocks to reach 979 million reais, Read More
Petrobras Grapevine – Sale of Argentine Assets
Local press reports that YPF plus 3 other energy groups in Argentina, Pan American Energy (Chinese), Tecpetrol (Techint) and Pluspetrol, have made offer for the purchase of the Petrobras assets in Argentina which include drilling rights, refineries and a chain of gas stations. Decision of proposal should be as soon as next week.
Petrobras Hopes to Boost Crude Processing at RNEST
Brazil's state-run oil company Petrobras hopes to boost the crude processing capacity of its newest refinery 62 percent to as much as 120,000 barrels per day (bpd) in the second half of this year, the company's refining chief said Wednesday. Petroleo Brasileiro SA plans to start testing higher processing levels at the Abreu e Lima,... Continue Reading →
Fitch Poll – Brazil Largest Contagion Threat in Emerging Markets
Brazil poses a larger threat of contagion for global financial markets than other emerging economies, far eclipsing Russia and China, Fitch Ratings said on Wednesday, giving highlights of an upcoming survey of European fixed-income investors. The investors, who manage an estimated 7.8 trillion euros in assets, considered economic imbalances, political challenges and U.S. interest rates... Continue Reading →
Brazil – For Sale
Brazil has a “For Sale” sign in its front yard. Saddled with debt and an economic downturn, companies from builders to miners are opening their doors to bargain hunters. The government, aiming to win back investors and stave off a ratings downgrade, may back as much as 20 billion reais ($6.3 billion) in IPOs by... Continue Reading →
Two die at Petrobras terminal; fire hits offshore platform -union
Two workers died at a construction project at a Brazilian oil terminal operated by state-run Petrobras on Tuesday, adding to a string of fatal and life-threatening accidents, a union representing oil workers said in a statement. A FUP affiliate known as SindipetroNF also said on Tuesday that there was a fire on the P-53 offshore... Continue Reading →
Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise
Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff's austerity push won't fully offset plunging government revenues. As Brazil prepares for a crucial ratings review by Moody's Investors Service in the third quarter, members of Rousseff's economic... Continue Reading →
Fitch: Europe Credit Investors See EM Risk Contagion via Brazil
| Wed Jul 8, 2015 8:28am EDT Fitch: Europe Credit Investors See EM Risk Contagion via Brazil (The following statement was released by the rating agency) LONDON, July 08 (Fitch) European credit investors see more possibility of contagion from emerging market risks via Brazil than other major emerging markets (EMs), according to Fitch Ratings' latest... Continue Reading →
Brazil Energy Insight 