Brazil's Petrobras bet big and won this week after printing a US$2.5bn Century bond - the largest-ever trade with this tenor and the oil company's first bond sale since a corruption scandal locked it out of the capital markets last year. Few thought the company, still reeling from a high-profile investigation into kick-backs, was prepared... Continue Reading →
Brazil’s Oil Authorities discuss Local Content Rule
Brazil's oil regulating body, Agencia Nacional de Petroleo - ANP, is debating changes in the Local Content Law to be in place by the time the next oil license auction in October. Read More
Prumo and BG Brasil sign contract for oil transshipment at Açu Port – Press release
Prumo and BG Brasil sign contract for oil transshipment at Açu Port 6/3/2015 Scheduled for August 2016, oil handling may reach up to 200.000 bbl/day Prumo Logística and BG Brasil signed today (June 3nd 2015) a contract for oil transshipment services at Açu Port, in São João da Barra (RJ). The agreement means BG... Continue Reading →
Brazil Economy gains some credibility on budget policy
Brazil's Finance Minister Joaquim Levy has been filling in the shoes of President Dilma Roussef in the crusade with the law makers to pass the badly needed austerity program. The Economist has been writing about the ups and downs of the Brazilian Economy since the economy took off in 2010 and it floundered in 2014.... Continue Reading →
North Sea Oil threatened says The Econominst
North Sea oil Offshore fog Bloated costs and falling profits threaten the future of North Sea oil May 30th 2015 Try to keep it pumping WHEN the North Sea oil- and gasfields were booming, inefficiencies mushroomed. Now, times are tough—and it may be too late for belt-tightening. The offshore industry, particularly the British bit of... Continue Reading →
Brazil’s Development Bank Moves to Open Books Amid Graft Scandal
Brazil’s Development Bank Moves to Open Books Amid Graft Scandal June 3, 2015 — 3:56 PM BRT BNDES President Luciano Coutinho. Photographer: Marcos Issa/Bloomberg Brazil’s state development bank took a step toward transparency amid criticism of lending to countries like Cuba, big campaign donors and contractors involved in a graft scandal. BNDES, the Rio... Continue Reading →
Petrobras Supplier Blacklist Seen as Illegal by Attorney General
Petrobras Supplier Blacklist Seen as Illegal by Attorney General June 3, 2015 — 4:19 PM BRT Brazil's Attorney General Luis Inacio Adams. Photographer: Evaristo Sa/AFP/Getty Images Petrobras acted hastily in banning more than 20 contractors from bidding for new work during a graft investigation, according to Brazil’s attorney general. The blacklist -- issued by... Continue Reading →
Petrobras to hire Merrill Lynch to help manage multi billion divestment
The Petrobras logo is reflected in the window of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER Reuters reports that indebted Brazilian oil company Petrobras has brought in Bank of America Merrill Lynch to help manage a multi-billion dollar divestment plan and has already contacted major oil companies who might be interested... Continue Reading →
Brazil monetary authorities set to increase interest rates
The Brazilian Central Bank monetary policy committee, known as the COPOM, will most likely raise interest rates or Selic another 50 basis points to 13.75% p.a. this evening when it meets. The highest rate in 6 years as the Central Bank is adamant to dominate the high inflation rate which has broken the 8% mark... Continue Reading →
Petrobras Business Plan 2015 – 2019
Local sources report that the Petrobras administration plans to submit the new Business Plan for 2015 to 2019 for Board approval on June 23. If approved the plan will be made public immediately. It has been been reported that the new Plan will reveal substantial decrease from the previous Plan and will concentrate efforts in... Continue Reading →
Brazil Energy Insight 