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Sikorsky’s operating profit will be down as much as $125 million on lower deliveries to the oil-and-gas industry. “We’ll have the decision on spin versus sale done, I think, in about 60 days -- probably by the end of July,” Chief Executive Officer Gregory Hayes told investors on a conference call at the Paris Air... Continue Reading →
"Petrobras last month reported earnings that beat analysts’ estimates by 23 percent after a fuel price increase allowed its refining and supply unit to turn a profit for the first time since late 2010. Chief Executive Officer Aldemir Bendine is developing a business plan to reduce the industry’s heaviest debt load and retain an investment-grade... Continue Reading →
Brazil's ANP plans to publish the 13th Oil Rights Auction Tender by Aug 6th. The oil authority plans to keep present local content rule but some politicians and the oil industry are hoping that the authority will rethink the issue and be more flexible. The fear is that if the local content rule is not... Continue Reading →
Petrobras - US$ 1.5 Billion received from the China Development Bank 06/12/2015 Rio de Janeiro, June 12th 2015 - Petróleo Brasileiro S.A. - Petrobras informs that it has received today, through its fully owned subsidiary Petrobras Global Trading BV - PGT, the amount of US$ 1.5 Billion related to the loan signed on May 20th,... Continue Reading →
June 12, 2015 Latest local press report says that a group of Asian investors are negotiating a U$1.2 billion capital infusion. Not clear whether this will dilute existing shareholders but creditors have agreed. Since some shareholders are also large creditors gives some credibility but still the news are tenuous at best. The report says that... Continue Reading →
Petrobras Oil and Natural Gas Production on May 06/12/2015 Rio de Janeiro, June 12nd, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that, on May 2015, its oil and natural gas production was 2 million 766 thousand barrels of oil equivalent per day (boed), in Brazil and abroad, 0.7% lower than the volume produced on... Continue Reading →
Senator Jose Serra of the opposition PSDB party. Photographer: Amauri Nehn/News Free/LatinContent/Getty Images Senators of Brazil’s largest party expect the upper house to approve a bill that relieves state-controlled Petrobras of its role as sole operator and compulsory stakeholder in so-called pre-salt oilfields. Read More
09/06/2015 The National Energy Policy Council (CNPE) published on JUNE 9, 2015 in the Official Gazette, Resolution No. 1/2015, which authorizes ANP, National Petroleum Agency, to hold the 13th Bidding Round of Exploratory Blocks . There will be offered 266 exploration blocks, totaling an area of 125,045.9 square kilometers. The Council also approved the inclusion... Continue Reading →
Low oil prices and economic growth have helped drive up consumer demand for energy across the world in 2015. The IEA said world demand for oil would increase 1.4 million barrels a day this year, 300,000 barrels a day faster than it previously forecast, to a daily average of 94 million barrels this year. Read... Continue Reading →
Eletrobras reports that it has hired US law firm Hogan Lovells to investigate possible violations of domestic and international graft laws in its contracts. The publicly listed Eletrobras warned the US Securities and Exchange Commission that it would have to delay its form 20-F, or annual report, for 2014 after allegations emerged that the chief executive of a... Continue Reading →
Brazil Energy Insight 