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U.S. Oil Industry’s Battle Cry: Exports Now! As Crude Prices Remain Weak, Push Intensifies for Reversing Decades-Old Ban on Sales Abroad U.S. oil prices have fallen by half, to around $56 a barrel, since their peak last June. Currently, the global price is almost $7 a barrel higher. PHOTO: REUTERS By LYNN COOK And LESLIE EATON/WSJ April 22, 2015... Continue Reading →
Half of U.S. Fracking Companies Will Be Dead or Sold This Year By David Wethe / Bloomberg 1:21 PM BRT April 22, 2015 Half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International Plc said. There... Continue Reading →
Bearish Bets on Petrobras ADRs Hold Near Record Before Earnings By Julia Leite/Bloomberg 12:29 PM BRT April 22, 2015 Bets on further declines of Petroleo Brasileiro SA held near a record high before the oil producer’s long-delayed audited results. Short interest in its American depositary receipts was at 16 percent of shares outstanding as of... Continue Reading →
Brazilian Currency Fluctuates Before Petrobras’s Audited Results By Filipe Pacheco/Bloomberg 10:21 AM BRT April 22, 2015 Brazil’s real swung between gains and losses as the state-controlled oil producer at the center of a widening corruption investigation was due to publish audited financial results for the first time since August. The real dropped 0.1 percent to... Continue Reading →
Petrobras Seen Unlocking Bond Market Shuttered by Bribery Crisis By Filipe Pacheco/Bloomberg 8:00 PM BRT April 21, 2015 A man gets back in his car after purchasing gasoline at a Petroleo Brasileiro SA station in Rio de Janeiro. The state-controlled oil producer will release audited financial results on Wednesday for the first time since August.... Continue Reading →
Brazil March Current Account Gap Wider Than Economists Forecast By Mario Sergio Lima/Bloomberg 11:06 AM BRT April 22, 2015 Brazil’s current account deficit was wider than analysts expected last month, as a trade surplus wasn’t large enough to offset a deficit in international travel and machinery rental. The deficit in the current account, the broadest... Continue Reading →
Brazil Makes Latin America Fallen Angels Hub, Moody’s Says by Julia Leite/Bloomberg 2:09 PM BRT April 21, 2015 Brazil’s stagnant economy and sinking currency are putting investment-grade ratings at risk, making Latin America the region with the biggest number of high-grade bonds that could end up as junk, Moody’s Investors Service said. Power producer Centrais... Continue Reading →
BP Readies Defenses as Oil Industry Responds to Shell’s Raid By Rakteem Katakey Matthew Campbell Matthew Monks 8:01 PM BRT April 20, 2015 BP executives are concerned the company is vulnerable to an opportunistic bid, according to people familiar with the situation. Photographer: Andrey Rudakov/Bloomberg As the oil industry takes stock of Royal Dutch Shell... Continue Reading →
Tue Apr 21, 2015 6:34am EDT Brazilian vice-president sees no impeachment case against Rousseff LISBON Brazil's President Dilma Rousseff (L) reacts next to Vice President Michel Temer during a ceremony to announce measures to modernize Brazilian soccer at the Planalto Palace in Brasilia March 19, 2015. REUTERS/UESLEI MARCELINO (Reuters) - Brazil's vice president has dismissed... Continue Reading →
Petrobras Scandal Buries Brazilian Prosperity Plan at Sea By Juan Pablo Spinetto Anna Edgerton / Bloomberg 8:00 PM BRT April 20, 2015 Buried off the coast of Brazil, beneath miles of seawater, rock and salt, lie vast oil reserves -- at least 50 billion barrels -- that were supposed to yield untold riches for this... Continue Reading →
Brazil Energy Insight 