Thu Apr 16, 2015 3:20pm EDT Exclusive: Petrobras to cut investments 20 pct in new 5-year plan - source RIO DE JANEIRO (Reuters) - Brazil's state-run oil company Petrobras is planning to cut investments by around 20 percent in a 2015-2019 business plan to be announced next month, compared to its last five-year plan, a... Continue Reading →
U.S. Crude Output Rose to 42-Year High in March, Increasing Glut
U.S. Crude Output Rose to 42-Year High in March, Increasing Glut By Mark Shenk/Bloomberg 4:00 PM BRT April 16, 2015 The U.S. pumped crude last month at the fastest pace since February 1973, sending March inventories to the highest level in 85 years. Crude output climbed 13 percent from a year earlier to 9.32 million... Continue Reading →
Dilma Rousseff accused of ‘outsourcing’ top government posts
http://www.ft.com/cms/s/0/48eb2bfa-e3ea-11e4-b407-00144feab7de.html#ixzz3XVDLePJM April 16, 2015 4:49 pm Dilma Rousseff accused of ‘outsourcing’ top government posts Joe Leahy in São Paulo/FT Crisis-hit Brazilian president weighs benefit of giving up control of key roles ©EPA/Sebastiao Moreira Demonstrators protest in São Paulo over the Petrobras scandal T he atmosphere at São Paulo’s mass political protests against President Dilma Rousseff’s government was... Continue Reading →
Brazilian Currency Rises to Six-Week High on Fed Policy Outlook
Brazilian Currency Rises to Six-Week High on Fed Policy Outlook By Filipe Pacheco/Bloomberg 10:00 AM BRT April 16, 2015 Brazil’s real climbed to a six-week high after a U.S. housing report added to speculation that the Federal Reserve will keep borrowing costs low for a longer period of time, supporting emerging markets. The currency rose... Continue Reading →
Brazil Sees Economy Shrinking 0.9% in 2015, Expanding 1.3% in 2016
Brazil Sees Economy Shrinking 0.9% in 2015, Expanding 1.3% in 2016 Guidelines sent to Congress help set goals for following year’s budget bill By PAULO TREVISANI And JEFFREY T. LEWIS/WSJ Updated April 15, 2015 6:23 p.m. ET BRASÍLIA—Brazil’s economy will contract 0.9% in 2015 and grow 1.3% in 2016, according to forecasts for the country’s 2016... Continue Reading →
UPDATE 1-Petrobras says has no plans to sell sub-salt oil fields
Wed Apr 15, 2015 8:48pm EDT UPDATE 1-Petrobras says has no plans to sell sub-salt oil fields (Recasts with Petrobras statement and context) (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances. Petrobras, as... Continue Reading →
For Petrobras CEO, It’s One Problem Down and Many More to Come
For Petrobras CEO, It’s One Problem Down and Many More to Come By Sabrina Valle Peter Millard/Bloomberg 12:00 AM BRT April 16, 2015 Photographer: Dado Galdieri/Bloomberg Petroleo Brasileiro SA’s new chief executive officer is close to overcoming his first major hurdle: getting auditors to approve financial results. His next big task will be figuring out... Continue Reading →
Brazil Scandal Encroaching on Rousseff, Opposition’s Neves Says
Brazil Scandal Encroaching on Rousseff, Opposition’s Neves Says by Raymond Colitt Sabrina Valle/Bloomberg 11:45 AM BRT April 15, 2015 Brazil’s largest corruption scandal is encroaching on President Dilma Rousseff after the treasurer of her party was arrested, the leader of the country’s main opposition party said. “The political crisis is intensifying and is increasingly getting closer to... Continue Reading →
Oil Rises to Three-Month High
Oil Rises to Three-Month High By Mark Shenk/Bloomberg 11:38 AM BRT April 15, 2015 Oil surged to the highest this year as a pause in the U.S. shale boom was seen easing the biggest supply glut since 1930. Crude supplies increased last week at the slowest pace since January, according to the Energy Information Administration.... Continue Reading →
Petrobras shows corruption is now a high-stakes game in Brazil
http://www.ft.com/cms/s/0/2e2a58fe-de18-11e4-8d14-00144feab7de.html#ixzz3XOZamFwq April 15, 2015 3:10 pm Petrobras shows corruption is now a high-stakes game in Brazil Samantha Pearson/FT ©Reuters A protester dressed as Batman denounces the Petrobras affair in Brasília earlier this year In the 1980s, corruption in Brazil was a simple, albeit sweaty, affair. The first challenge for any executive entrusted with paying a bribe was... Continue Reading →
Brazil Energy Insight 