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http://www.ft.com/cms/s/0/d9515292-ea7e-11e4-a701-00144feab7de.html#ixzz3YFVrrVnB WEEK IN REVIEW April 24, 2015 4:25 pm Petrobras puts chief’s pragmatism to test as woes mount Joe Leahy in São Paulo/FT ©Reuters Aldemir Bendine In an interview in 2009, Aldemir Bendine, then head of Banco do Brasil, Brazil’s biggest bank, was asked about his favourite piece of wisdom. “The pessimist complains about the wind;... Continue Reading →
Economist Learns Politics to Save Brazil’s President Brazil's Finance Minister is working to restore confidence By Raymond Colitt/Bloomberg 12:00 AM BRT April 24, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Michael Nagle/Bloomberg Brazilian Finance Minister Joaquim Levy got his economics training at... Continue Reading →
Petrobras Erases Corruption Probe Losses After Audited Results By Julia Leite/Bloomberg 11:45 AM BRT April 24, 2015 Petroleo Brasileiro SA wiped out the stock plunge sparked by Brazil’s largest kickback investigation after releasing long-delayed earnings. The state-controlled oil driller rose as much as 6.7 percent to 13.78 reais on Friday, erasing losses accumulated since Nov.... Continue Reading →
Petrobras Hunts ‘Hidden Values’ for Potential Stock Sales By Sabrina Valle / Bloomberg 11:31 AM BRT April 24, 2015 Petrobras, the world’s most indebted oil producer, may sell stakes in some assets via initial public offerings as part of a wider effort to boost cash levels and improve its financial health. “Our role here is... Continue Reading →
http://www.ft.com/cms/s/0/7324c094-e975-11e4-b863-00144feab7de.html#ixzz3YEdwiwE4 Last updated: April 23, 2015 5:57 pm Petrobras struggles with losses as probe drags on Joe Leahy and Samantha Pearson in São Paulo/FT ©Reuters Aldemir Bendin says Petrobras is not going to take the corruption scandal lying down For a tense period on Wednesday evening, those gathered for the press conference of Brazil’s corruption-plagued Petrobras began to... Continue Reading →
Fri Apr 24, 2015 8:04 am EDT Brazil's Petrobras board to review 1st-qtr results on May 15 SAO PAULO The Petrobras logo is seen in front of the company's headquarters in Sao Paulo April 23, 2015. REUTERS/PAULO WHITAKER (Reuters) - Brazil's state-run oil producer Petroleo Brasileiro SA (PETR4.SA), known as Petrobras, said in a securities... Continue Reading →
http://www.ft.com/cms/s/0/b1bdbd7c-e918-11e4-b7e8-00144feab7de.html#ixzz3YENesfgm Last updated: April 23, 2015 3:50 pm Foreign borrowers wary of dollar rise Elaine Moore and Roger Blitz ©Bloomberg China offered investors a cautionary tale this week of what can happen when a company borrows heavily in dollars. On Monday, Kaisa Group became the first Chinese property developer to default on its dollar-denominated bonds as a housing... Continue Reading →
Petrobras Bondholders’ Doomsday Scenario Averted With Earnings By Julia Leite Paula Sambo / Bloomberg 8:07 PM BRT April 23, 2015 For bond investors, the release of Petroleo Brasileiro SA’s audited earnings means a potential disaster was averted: a default with the potential to put billions of dollars of debt repayments in limbo. That still doesn’t... Continue Reading →
What’s Next for Petrobras May Be Tougher Than $17 Billion Loss By Anna Edgerton / Bloomberg 12:00 AM BRT April 24, 2015 Petrobras’s massive writedowns this week answer the question about the cost of its corruption and pose a much bigger one: whether the state-run driller can restore its role as Brazil’s economic anchor and... Continue Reading →
Thu Apr 23, 2015 2:04 pm EDT UPDATE 1-Shell's Brazil strategy factors in Petrobras scandal -CEO By Anthony Boadle (Reuters) - Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's... Continue Reading →
Brazil Energy Insight 