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The economic and political crisis now engulfing Latin America's biggest economy is prompting politicians, economists and ordinary Brazilians to consider what once seemed unthinkable: that President Dilma Rousseff, re-elected less than nine months ago, might not finish her second term, which runs to 2018. Read More
Royal Dutch Shell Plc obtained regulatory approval from Brazil to buy BG Group Plc, clearing another antitrust hurdle to completing the $70 billion acquisition. Read More
Eight companies were invited to consider the purchase of up to 49% of Gaspetro, the distribution company that holds the natural gas assets of Petrobras, but the dispute should be between Japan's Mitsui and China's Beijing Gas. It is still early to say, but Mitsui has been identified by the market as the most interested in these... Continue Reading →
Even with the oil market in a funk again, producers are adjusting and Precision Drilling Corp. sees the potential for more spending by customers in the second half. Canada’s largest drilling services company sees some room for the North American rig count to rebound as customers restart wells and upgrade equipment after cutting costs, Chief... Continue Reading →
The real declined to a three-month low as Greece’s economic crisis damped the allure of emerging-market assets and contributed to a drop in prices for Brazil’s commodity exports. The currency dropped for a third straight day, slumping 1.4 percent to 3.1810 per dollar at 11:28 a.m. in Sao Paulo, the weakest level on a closing... Continue Reading →
Brazilian President Dilma Rousseff told newspaper Folha de S. Paulo in an interview published Tuesday that she plans to finish her term and continue with efforts to narrow the budget deficit in spite of growing calls among opponents for her resignation. When asked repeatedly by Folha reporters about heightening pressure for her to step down... Continue Reading →
Petrobras - Arbitration of Parque das Baleias’ Field 07/06/2015 Rio de Janeiro, July 6th, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the Arbitration Court has issued on July 2, 2015, injunction in relation to arbitration proposed by Petrobras, which discusses the resolution of the National Agency of Petroleum, Natural Gas and Biofuels -... Continue Reading →
Cutting 16 percent of its workforce and reducing its fleet to 23 vessels from 36 will help the company reach a cost-savings target of 830 million euros ($915 million), Paris-based Technip said in a statement on Monday. The company will take a one-time charge of 650 million euros for the restructuring, mostly in the second... Continue Reading →
India's Videocon Industries Ltd plans to invest $2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group's chief said, as part of its strategy to boost the business. Read More
Reliable market sources report that Petrobras is calling on suppliers with existing and renewable contracts to negotiate new terms and conditions. Petrobras is looking for 20% discounts across the board for the renewal of some service contracts.
Brazil Energy Insight 