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Mon May 4, 2015 9:00 pm EDT Stumbling blocks emerge for Brazil prosecutors in Petrobras case SAO PAULO | BY CAROLINE STAUFFER (Reuters) - Recent setbacks for prosecutors in a huge corruption scheme at Brazil's state-run oil company Petroleo Brasileiro SA suggest they will struggle to win as many convictions as they seek. The Supreme Court's decision... Continue Reading →
Big Oil’s Best Margin Can’t Save Ecopetrol as Drilling Fizzles By Andrew Willis / Bloomberg 12:23 AM BRT May 5, 2015 Juan Carlos Echeverry, Chief Executive Officer of Ecopetrol SA, has said he plans to boost reserves and focus on the most profitable fields. Photographer: F. Carter Smith/Bloomberg Normally if one of the world’s most... Continue Reading →
Brazilian Economy Struggles to Take Off Business faces fraught time amid drought, a sluggish economy and a corruption scandal Economists expect Brazil’s gross domestic product to contract 1.18% this year and growth of just 1% in 2016. PHOTO: PAULO WHITAKER/REUTERS By LORETTA CHAO and ROGERIO JELMAYER/WSJ May 4, 2015 10:45 p.m. ET SAO PAULO, Brazil—With Brazil dogged by... Continue Reading →
Anadarko Posts Weaker-Than-Expected Results The oil-and-gas exploration and production company says production was strong An Anadarko Petroleum Corp. fracking site north of Dacono, Colo. PHOTO: BLOOMBERG NEWS By JOSH BECKERMAN/WSJ May 4, 2015 4:50 p.m. ET Anadarko Petroleum Corp. posted weaker-than-expected results for its first quarter but said production was strong. The oil-and-gas exploration and production company,... Continue Reading →
Brazil Austerity Can Minimize Budget Cuts, Temer Tells Congress by Mario Sergio Lima 7:14 PM BRT May 4, 2015 Brazil’s government will have to make significant reductions to the spending budget if lawmakers block its austerity program, Vice President Michel Temer said. “The budget cuts would be very radical,” Temer, a member of the ruling... Continue Reading →
Mon May 4, 2015 3:53pm EDT Brazil's industrial output likely fell in March: Reuters poll BRASILIA | BY SILVIO CASCIONE (Reuters) - Industrial output in Brazil probably fell in March for a second straight month on falling auto and steel production, increasing expectations that Latin America's largest economy will tumble into a recession. Output from Brazilian factories and... Continue Reading →
http://www.ft.com/cms/s/0/bff9828e-ef28-11e4-87dc-00144feab7de.html#ixzz3ZCNaZgaN May 4, 2015 4:56 pm Brazil is suffering from recession and scandal President Rousseff’s new economic pragmatism faces a gruelling test FT View ©Reuters Brazilian President Dilma Rousseff is coming under increasing pressure In a world of near-zero interest rates, how about this? Last week, Brazil’s central bank increased its main interest rate to 13.25 per... Continue Reading →
5:31 pm ET May 3, 2015 Russia, Brazil Mistakes Show How Inflation Can Still Arise By MICHAEL J. CASEY/MoneyBeat Reuters Years of economic delusion have placed Brazil and Russia on track for a reckoning with a familiar old foe: inflation. In 2001, both countries were named along with India and China as part of the... Continue Reading →
Shale Oil Drillers Plunge After Einhorn Slams Fracking Costs by Joe CarrollKelly Gilblom/Bloomberg 1:45 PM BRT May 4, 2015 Money manager David Einhorn slammed the shale drilling industry that ushered in a new era of U.S. oil production as wasteful, expensive and a terrible investment. Shale explorers including Pioneer Natural Resources Co. and EOG Resources... Continue Reading →
OTC Names 2015 Distinguished Achievement Award Recipients Winners to Be Honored 3 May at Annual OTC Dinner Houston, Texas, USA (2 February 2015) – The 2015 Offshore Technology Conference (OTC) will kick off on Sunday, 3 May in Houston with the Annual OTC Dinner to honor the recipients of this year’s Distinguished Achievement Awards.... Continue Reading →
Brazil Energy Insight 