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The deterioration in Brazil’s economic and political outlook isn’t enough to strip the country of its investment grade, Moody’s Investors Service senior analyst Mauro Leos said. “There are clear weaknesses facing Brazil, but they’re not as bad as those that we saw when we downgraded other countries,” Leos said Tuesday at a Council of the Americas... Continue Reading →
Brazil’s current account deficit narrowed more than economists forecast in August, as a weaker currency boosts exports and crimps imports in Latin America’s largest economy. The deficit in the current account, the broadest measure of trade in goods and services, narrowed in August to $2.5 billion from a revised $5.7 billion a month earlier, the... Continue Reading →
A fresh drop in in oil prices and political instability in Brazil is making investors miss out on about $5.5 billion in Royal Dutch Shell Plc’s pending takeover of BG Group Plc. BG closed on Monday at 990.4 pence, about 9.5 percent below Shell’s cash-and-stock offer. The difference in share prices in the deal -- the largest... Continue Reading →
Brazil's state-controlled oil producer Petroleo Brasileiro SA said on Tuesday it is in the last stages of negotiations with a Mitsui & Co Ltd Brazilian unit over the purchase of a minority stake in a natural gas holding company. In a securities filing, Petrobras said it is considering the sale of 49 percent of a... Continue Reading →
Brazil’s real fell to its lowest level since its introduction two decades ago on concern that President Dilma Rousseff won’t be able to shore up the country’s budget and avoid further credit-rating cuts. The currency sank to as low as 4.0142 per dollar, the weakest intraday level since its introduction in 1994. Futures on the... Continue Reading →
Petrobras ends contracts for two World Wide Supply PSVs zoom World Wide Supply AS, a company providing offshore shipping services for the global petroleum industry, has received notice of early termination of contracts for two of its platform supply vessels (PSVs) from Brazilian oil and gas giant Petrobras. Namely, the contracts were terminated for two 2013-built... Continue Reading →
Petrobras scraps deals for three Ultrapetrol’s vessels After early termination of contracts forWorld Wide Supply and Siem Offshore‘s vessels, Petrobras also terminated contracts for three Ultrapetrol’s platform supply vessels (PSVs). Namely, Ultrapetrol, an industrial transportation company serving marine transportation needs in river business, offshore supply business, and ocean business, announced Monday that it has received notification from... Continue Reading →
Statoil Brazil awards Peregrino OMM contract to Wood Group On behalf of the Peregrino licence partners, Statoil is awarding a contract to Wood Group to provide four-year operations and maintenance for our two wellhead platforms (Alpha and Bravo) and modification services for both units and the FPSO Peregrino. A well head platform on the Peregrino... Continue Reading →
It is the ugliest of round-trips for Brazil. It is near-13 years on from December 10, 2002, and a weak Brazilian real of 4.0040. Again, we move toward the 4.00 level today. Read More
Brazil’s collapsing currency has claimed its first victim: General Shopping Brasil SA bonds. The mall operator is offering to buy back as much as $50 million worth of its senior debt for a fraction of the face value: 51 cents on the dollar if bondholders accept by Sept. 29 and 48 cents if they wait... Continue Reading →
