HSBC Sues Brazil’s Schahin for $55 Million of Unpaid Notes By Francisco Marcelino Filipe Pacheco 3:15 PM BRT April 2, 2015 HSBC Holdings Plc is suing Schahin Engenharia SA, a supplier to Brazilian oil producers, for 173.6 million reais ($55 million) related to unpaid promissory notes. The claim, which was filed in Sao Paulo on... Continue Reading →
Petrobras / Clarification on News: Asset Sales
Petrobras / Clarification on News: Asset Sales Rio de Janeiro, April 2, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER/CVM/SEP/GEA-1/No. 110/2015, which requests the following clarification: OFFICIAL LETTER/CVM/SEP/GEA-1/No. 110/2015 In reference to market announcement released on March 19, 2015 in response to OFFICIAL LETTER/CVM/SEP/GEA-1/No. 84/2015, as well as news released on April... Continue Reading →
Brazil Real Extends Year’s Biggest Weekly Gain on Fiscal Outlook
Brazil Real Extends Year’s Biggest Weekly Gain on Fiscal Outlook By Paula Sambo 10:50 AM BRT April 2, 2015 Brazil’s real extended its biggest weekly advance of the year on speculation President Dilma Rousseff is committed to shoring up fiscal accounts and preserving the nation’s investment-grade status. The currency climbed for a fourth straight day... Continue Reading →
Brazil Exchange Asks State Companies to Go Beyond Letter of Law
Brazil Exchange Asks State Companies to Go Beyond Letter of Law By Ney Hayashi Cruz 12:27 PM BRT April 2, 2015 Latin America’s biggest securities exchange is urging Brazil’s state-owned companies to do more than the law requires in improving corporate governance as part of an effort to make the nation’s stocks more attractive to... Continue Reading →
Petrobras / Sale of Assets in Argentina
Petrobras / Sale of Assets in Argentina Rio de Janeiro, March 31, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that the Board of Directors of Petrobras Argentina (PESA) has approved to dispose of all of its assets located in the Austral Basin, in the Santa Cruz province, for US$ 101 million to Compañia General... Continue Reading →
Petrobras Pension Fund Losses Said to Widen to $1.9 Billion
Petrobras Pension Fund Losses Said to Widen to $1.9 Billion By Sabrina Valle 7:27 PM BRT April 1, 2015 Petroleo Brasileiro SA’s employee pension fund, known as Petros, lost more than 6 billion reais ($1.9 billion) last year, according to a person with direct access to the fund’s preliminary results. The deficit widened from 2.4... Continue Reading →
Petrobras Woes Reach Europe as Slowdown Leaves Partners Hanging
Petrobras Woes Reach Europe as Slowdown Leaves Partners Hanging By Rodrigo Orihuela Mikael Holter 7:00 PM BRT April 1, 2015 When Italian oil services company Saipem SpA spent $300 million at the start of the decade in Brazil, it joined a long list of foreign companies jockeying for business with Petroleo Brasileiro SA. Now it’s... Continue Reading →
Aurelius Says OAS Seeking to Defraud Bondholders in Bankruptcy
Aurelius Says OAS Seeking to Defraud Bondholders in Bankruptcy By Boris Korby 1:35 PM BRT April 1, 2015 (Bloomberg) -- Hedge fund Aurelius Capital Management LP said that Brazilian builder OAS SA’s bankruptcy is part of an effort to defraud bondholders. Aurelius affiliate Huxley Capital Corp. filed a complaint in Manhattan federal court March 5... Continue Reading →
Brazil’s Real Leads Gains as Rousseff Affirms Fiscal Commitment
Brazil’s Real Leads Gains as Rousseff Affirms Fiscal Commitment By Paula Sambo 9:08 AM BRT April 1, 2015 (Bloomberg) -- Brazil’s real led global currency gains after President Dilma Rousseff affirmed a commitment to do what it takes to meet fiscal targets, fueling speculation that the nation will be able to avoid a junk credit... Continue Reading →
Petrobras Deepens China Tie With $3.5 Billion Loan Deal
Petrobras Deepens China Tie With $3.5 Billion Loan Deal By Juan Pablo Spinetto 8:58 AM BRT April 1, 2015 (Bloomberg) -- Petroleo Brasileiro SA, the world’s most indebted oil producer, is bolstering ties to China as a corruption scandal has shut the company out of international bond markets. Petrobras, as Brazil’s state-run producer is known,... Continue Reading →
Brazil Energy Insight 