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State-controlled oil producer Petróleo Brasileiro SA could sell a stake in Brazil's Braskem SA and build provisions against tax debts nearing 40 billion reais ($12.7 billion) to reduce costs and make finances sustainable, Valor Econômico newspaper said on Monday. Read More
Brazil’s congress is likely to pass a landmark bill that could ease financial pressure on state-controlled oil company Petrobras by opening the country’s biggest offshore oil discoveries to greater foreign and private investment. See attached FT Article - petrobras offshore bill FT
Brazil’s real is headed for further declines in the next six months if you believe the currency’s three most accurate forecasters. Brazil’s currency was the biggest loser among 16 major currencies tracked by Bloomberg in the first six months of the year, dropping 14 percent. The slide mostly reflected concern regarding the implementation of a... Continue Reading →
The real depreciated 0.9 percent to 3.1255 per dollar at 10:56 a.m. in Sao Paulo. Swap rates, a gauge of expectations for changes in borrowing costs, on the contract maturing in January 2017 decreased 0.1 percentage point to 13.72 percent. Read More
Petrobras - Business & Management Plan Conference Transcript Get information on the 2015-2019 Business and Management Plan. Access the Press Conference presentation and the Press Release below. Conference Transcript Transcricao-PNG-2015-2019-Petrobras-Imprensa-Ingles
Petrobras - 2nd Quarter 2015 Results Release Date 07/02/2015 Rio de Janeiro, July 2nd, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 2nd Quarter 2015 results on August 6th, 2015, after the market is closed. Therefore, from July 23rd to August 6th, the Company will be in quiet period, during... Continue Reading →
BP Plc’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target. Potential buyers, held back by unquantifiable liabilities related to the company’s 2010 Gulf of Mexico spill, may find a slimmed-down BP... Continue Reading →
Petrobras corruption losses may be larger than estimated, prosecutor says 7/2/2015, 3:13 PM (Source: Seeking Alpha) back Petroleo Bras...+2.08% 8.83 Brazilian prosecutors say Petrobras’ (PBR +2.4%) official estimates for losses it has suffered from the corruption scandal are too low, which Financial Times says may mean the company will need to adjust its 2014 financial... Continue Reading →
For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price. The sudden rebound in the U.S. oil rig count is a testament to how resilient U.S. shale has become as it battles against OPEC for market share. Spurred... Continue Reading →
A group of five Brazilian banks will refinance about 11.5 billion reais ($3.6 billion) in loans for ailing Sete Brasil Participações SA for a further 45 days, in a bid to keep the oil rig maker afloat, two sources with direct knowledge of the matter said on Thursday. State banks Banco do Brasil SA and... Continue Reading →
Brazil Energy Insight 