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Wed May 13, 2015 10:14am EDT Brazilian CEO to sign plea deal in Petrobras case -paper SAO PAULO/Reuters May 13 The head of Brazilian construction firm UTC Engenharia will sign a plea bargain deal with prosecutors, newspaper Folha de S. Paulo said on Wednesday, making him the highest-level executive to collaborate with a corruption... Continue Reading →
Wed May 13, 2015 6:50am EDT Brazil's Levy says sees temporary slowdown, fiscal discipline essential By Jamie McGeever May 13 (Reuters) - Brazilian Finance Minister Joaquim Levy said on Wednesday that he expected the country's economic slowdown to be temporary and that fiscal discipline remained central to ensuring the recovery as a commodity price boom... Continue Reading →
http://www.ft.com/cms/s/0/7cff298e-f8b0-11e4-8e16-00144feab7de.html#ixzz3a1Vbhjvu EM SQUARED May 13, 2015 12:27 pm EM currencies v Fed: India much better positioned than Brazil Jonathan Wheatley/FT Things have changed since the taper tantrum of 2013, for better and worse ©AFP As this week’s sell-off in Asian currencies reminds us, the mood among investors in emerging markets is one of nervous agitation. Behind it... Continue Reading →
Petrobras announced that on April 11, 2015 the pre salt production hit a new milestone of 800 thousand bpd, eight years after the discovery of the pre salt fields. Petrobras is responsible for 74% ( 590 thousand bpd) of the production while other operators are responsible for the rest. More to come...
Petrobras/R$ 157 million recovered by Lava Jato Operation Rio de Janeiro, May 12, 2015 - Petróleo Brasileiro S.A. – Petrobras announces that today R$ 157 million in funds repatriated by Brazil’s Federal Prosecutor as a result of Operation Lava Jato were made available for the Company. This is the first reimbursement of funds to the... Continue Reading →
Tue May 12, 2015 10:19pm EDT Itaú-led group sues Brazil's Schahin for $371 mln in overdue loans BRASILIA/Reuters May 12 Thirteen Brazilian and international banks filed a lawsuit in New York on Tuesday against two units of ailing engineering and oil conglomerate Grupo Schahin to recover $371 million in overdue principal and interest on loans.... Continue Reading →
IMF Says Brazil Must Pursue Austerity, Meet Targets ‘Fiscal consolidation should proceed without delay,’ International Monetary Fund says By PAULO TREVISANI/WSJ May 12, 2015 5:33 p.m. ET BRASÍLIA—Brazil’s government needs to implement its plans to improve its financial situation and bring price increases under control to help restore confidence, competitiveness and growth to the economy,... Continue Reading →
IEA: OPEC Battle for Oil Market Share Just Beginning Paris-based watchdog maintains 2015 oil demand growth forecast at 1.1 million barrels a day Towers dot the skyline at an old oil field near Baku, Azerbaijan. OPEC sparked a struggle for market share after it decided not to cut production in November. PHOTO: BLOOMBERG NEWS By SARAH KENT/WSJ... Continue Reading →
Maersk Profit Misses Estimates as Container Line Loses Share By Christian Wienberg/Bloomberg 3:06 AM BRT May 13, 2015 European Stocks Slide as G-20 Rebuffs Boosting IMF Brendon O'Hagan/Bloomberg A.P. Moeller-Maersk A/S, Denmark’s biggest company, reported first-quarter profit that missed analyst estimates after its shipping line lost market share. Maersk Line, the world’s largest container shipper,... Continue Reading →
Oil's Not Coming Back. Here's Why By Moming Zhou/Bloomberg 8:01 PM BRT May 12, 2015 Oil bulls who’ve cheered a rebound of 40 percent from a six-year low should take heed: Unless demand accelerates, the rally is in danger. The omens aren’t good. The U.S. government expects global consumption to grow next year at less than half... Continue Reading →
Brazil Energy Insight 