Petrobras signs loan of U$3.5 billion with China Development Bank. According to sources the loan was booked under Petrobras subsidiary, Petrobras Global Trading. The Chinese have 20% interest in the pre salt Libra field which is operated by Petrobras with 40% and has Shell and Total as participants with 20% each and Chinese CNPC and... Continue Reading →
How Brazil’s President Plans to Get the Country and Herself Out of This Mess
How Brazil's President Plans to Get the Country and Herself Out of This Mess By Adriana Arai Raymond Colitt Arnaldo Galvao 7:00 AM BRT April 1, 2015 Brazil’s President Dilma Rousseff is battling to regain the trust of voters and global investors alike as the economy sinks and a corruption scandal deepens. On Tuesday she... Continue Reading →
In Fiscal Setback, Brazil Posts Primary Deficit for February
In Fiscal Setback, Brazil Posts Primary Deficit for February The deficit makes meeting a target of a surplus of 1.2% of gross domestic product more difficult Brazilian Finance Minister Joaquim Levy speaks to a Senate panel in Brasília on Tuesday. PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By PAULO TREVISANI /WSJ March 31, 2015 3:52 p.m. ET BRASÍLIA—Brazil took a... Continue Reading →
Petrobras independent director to quit board
Petrobras independent director to quit board http://www.ft.com/cms/s/0/4791990e-d7e4-11e4-80de-00144feab7de.html#ixzz3W3O0dFdF March 31, 2015 11:02 pm Joe Leahy and Samantha Pearson in São Paulo/FT ©EPA/Sebastiao Moreira Unrest: the Petrobras revelations have sparked protest An independent director of Brazil’s Petrobras has voiced a vote of no-confidence in the government’s handling of problems at the corruption-ridden state-controlled oil company by refusing to stand... Continue Reading →
Petrobras to release results this month – Rousseff
Petrobras to release results this month - Rousseff 24 minutes ago/FT Petrobras, the Brazilian energy company engulfed in a corruption scandal, will publish an audited set of financial results for 2014 by the end of April, according to Brazilian president Dilma Rousseff, Bloomberg reported. Ms Rousseff told the news agency that the release of the... Continue Reading →
OAS Files for Bankruptcy as Petrobras Probe Embroils Builder
OAS Files for Bankruptcy as Petrobras Probe Embroils Builder By Paula Sambo Christiana Sciaudone 2:46 PM BRT March 31, 2015 (Bloomberg) -- Brazilian builder OAS SA filed for bankruptcy, making it the largest company to seek protection as a bribery scandal involving state-controlled oil producer Petroleo Brasileiro SA engulfs the construction industry. OAS, which missed... Continue Reading →
Oil majors over a barrel due to falling reserves
http://www.ft.com/cms/s/0/2d35d198-d6b7-11e4-97c3-00144feab7de.html#ixzz3VzBe4t6k March 31, 2015 5:38 pm Oil majors over a barrel due to falling reserves Christopher Adams, Energy Editor/Financial Times ©Bloomberg The world’s largest oil and gas groups shed more than a billion barrels of reserves in 2014, the sharpest decline in at least six years, according to figures that show their exploration record has... Continue Reading →
Petrobras Investors Claim PwC Ignored Red Flags of Fraud
Petrobras Investors Claim PwC Ignored Red Flags of Fraud By Patricia Hurtado 7:04 PM BRT March 30, 2015 (Bloomberg) -- Investors in Petroleo Brasileiro SA, the state-run oil company at the center of a kickback scandal in Brazil, expanded their lawsuit against the company by adding claims that auditor PricewaterhouseCoopers LLP turned a “blind eye”... Continue Reading →
Class Action Complaint Against Petroleo Brasileiro S.A.- Petrobas and Certain Additional Defendants – PBR
Class Action Complaint Against Petroleo Brasileiro S.A.- Petrobas and Certain Additional Defendants - PBR March 30, 2015 07:30 ET | Source: Pomerantz LLP NEW YORK, March 30, 2015 (GLOBE NEWSWIRE) -- Lead Counsel Pomerantz LLP announces the filing of a consolidated amended securities class action complaint ("CAC") against Petroleo Brasileiro S.A. — Petrobras ("Petrobras" or the "Company") (NYSE:PBR), its... Continue Reading →
ExxonMobil Begins Production at Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively.
ExxonMobil Begins Production at Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively. ExxonMobil BeginsProduction at HadrianSouth in Gulf of Mexico Gross daily production to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids ExxonMobil net daily production from Hadrian South and Lucius to reach more than... Continue Reading →
Brazil Energy Insight 