Levy Said to Seek Bigger Spending Freeze Than Brazil Budget Head By Mario Sergio Lima Carla Simoes/Bloomberg 3:25 PM BRT May 11, 2015 Brazil’s Finance Minister Joaquim Levy is seeking to freeze as much as 17 billion reais ($5.6 billion) more from this year’s budget than Budget Minister Nelson Barbosa, according to a government official... Continue Reading →
Saudi Arabia will stick to non-intervention as oil prices rise
http://www.ft.com/cms/s/0/20758ab8-f7c6-11e4-8bd5-00144feab7de.html#ixzz3Zr7y9noy EM SQUARED May 11, 2015 1:32 pm Saudi Arabia will stick to non-intervention as oil prices rise Dan Bogler Next month’s Opec meeting likely to leave current output quotas in place while it lets market work ©AFP As oil prices halved last year, investors and traders kept expecting Saudi Arabia to intervene. It took... Continue Reading →
Witness Repeats Allegations Against Politicians in Petrobras Inquiry
Witness Repeats Allegations Against Politicians in Petrobras Inquiry Rousseff, Lula da Silva named in connection with alleged corruption at Petrobras Alberto Youssef, a witness in Brazil’s investigation into alleged corruption at state-owned oil company Petrobras, is escorted by federal policemen before a hearing at the federal court in Curitiba in February. PHOTO: REUTERS By LUCIANA MAGALHAES And WILL... Continue Reading →
Brazil Real Leads Global Drops as Greece Damps Emerging Markets
Brazil Real Leads Global Drops as Greece Damps Emerging Markets by Paula Sambo/Bloomberg 10:16 AM BRT May 11, 2015 Brazil’s real fell the most among global currencies as concern European finance ministers will struggle to agree on aid for Greece damped demand for emerging-market assets. The currency tumbled 2.2 percent to 3.0403 per U.S. dollar... Continue Reading →
OPEC Sees Oil Price Below $100 a Barrel in the Next Decade
OPEC Sees Oil Price Below $100 a Barrel in the Next Decade Pessimistic Assessment May Mean That the Oil Cartel Returns to Production Quotas By BENOÎT FAUCON and SUMMER SAID/WSJ May 11, 2015 8:23 a.m. ET VIENNA—The Organization of the Petroleum Exporting Countries doesn’t see oil prices consistently trading at $100 barrel again in the next... Continue Reading →
Petrobras says it plans lawsuits to recoup $440 mln in graft
Fri May 8, 2015 6:36pm EDT Petrobras says it plans lawsuits to recoup $440 mln in graft RIO DE JANEIRO/Reuters May 8 Brazil's state-run oil company Petroleo Brasileiro SA plans to sue five construction and engineering firms and their senior executives to recover about 1.3 billion reais ($440 million) lost in a corruption scandal, the... Continue Reading →
Noble Buys Rosetta for $2.1 Billion to Gain Texas Shale
Noble Buys Rosetta for $2.1 Billion to Gain Texas Shale By James Polson/Bloomberg 7:38 AM BRT May 11, 2015 A file photograph shows Charles Davidson, chairman and chief executive officer of Noble Energy Inc. Photographer: F. Carter Smith/Bloomberg Noble Energy Inc. agreed to acquire Rosetta Resources Inc. for $2.1 billion in stock, giving the natural... Continue Reading →
Brazil Analysts Cut 2016 CPI Forecast for First Time in 6 Weeks
Brazil Analysts Cut 2016 CPI Forecast for First Time in 6 Weeks By Mario Sergio Lima/Bloomberg 8:43 AM BRT May 11, 2015 Analysts covering the Brazilian economy cut their 2016 inflation forecast for the first time in six weeks as the central bank signals it will continue to raise interest rates. Analysts predict consumer prices... Continue Reading →
Statoil Scouts for Deals Yet to Become ‘Cheap’ After Oil Slump
Statoil Scouts for Deals Yet to Become ‘Cheap’ After Oil Slump By Francine Lacqua Mikael Holter/Bloomberg 4:00 AM BRT May 11, 2015 Statoil Says North Sea Finds Linked in ‘Giant’ Oil Discovery Heidi Wideroe/Bloomberg Statoil ASA, Norway’s biggest oil company, is keeping a close watch of acquisition opportunities after a crash in crude prices. “Acquiring... Continue Reading →
Rebound in US shale will limit oil price recovery
http://www.ft.com/cms/s/0/36dedf76-f595-11e4-a018-00144feab7de.html#ixzz3ZlKZXSE8 May 10, 2015 5:50 pm Rebound in US shale will limit oil price recovery Output from the ‘swing producer’ has changed the equilibrium ©Getty It has been one of the less widely noticed oil price surges. Since January, benchmark Brent crude has risen from less than $47 per barrel to more than $65 per barrel, an... Continue Reading →
Brazil Energy Insight 