Petrobras Boardroom Helm Handed to Rousseff State Banker Ally By Juan Pablo Spinetto Sabrina Valle 6:48 PM BRT March 26, 2015 (Bloomberg) -- Petroleo Brasileiro SA appointed a long-time ally of President Dilma Rousseff to lead its board, shunning calls to regain credibility by naming a more market-friendly executive. Petrobras, the Rio de Janeiro-based oil... Continue Reading →
Brazil’s Economy Expected to Shrink in 2015, as Joblessness Rises in February
Brazil’s Economy Expected to Shrink in 2015, as Joblessness Rises in February Central bank sees GDP contracting 0.5% this year, with worsening inflation A man sits below a job advertisement while waiting for a job interview in Brasília on March 17. PHOTO: REUTERS By JEFFREY T. LEWIS and ROGERIO JELMAYER/WSJ Updated March 26, 2015 12:34 p.m. ET SÃO... Continue Reading →
Petrobras Oil Delays Seen by Fitch as Possible Rate-Cut Trigger
Petrobras Oil Delays Seen by Fitch as Possible Rate-Cut Trigger By Sebastian Boyd Peter Millard 12:17 PM BRT March 26, 2015 (Bloomberg) -- Petroleo Brasileiro SA, the biggest oil producer in deep waters, risks losing its investment-grade credit rating if it fails to complete deep-water production vessels fast enough to accelerate output, said Joe Bormann,... Continue Reading →
Petrobras Bonds, After Slump, Find Takers
Petrobras Bonds, After Slump, Find Takers Prices have risen in the past week amid expectations the oil company soon will resolve uncertainty over its finances Petrobras headquarters in Rio de Janeiro. Some of the state-run oil company’s bonds have risen 7% in the past week. PHOTO: ANTONIO LACERDA/EUROPEAN PRESSPHOTO AGENCY By CAROLYN CUI/WSJ March 25, 2015 6:54... Continue Reading →
Galvao Engenharia Files for Bankruptcy Protection Amid Probe
Galvao Engenharia Files for Bankruptcy Protection Amid Probe By Julia Leite 8:35 PM BRT March 25, 2015 (Bloomberg) -- Galvao Engenharia SA, a Brazilian builder being investigated in a probe of alleged kickbacks at Petroleo Brasileiro SA, filed for bankruptcy protection in Rio de Janeiro. The company said in an e-mailed statement Wednesday that its... Continue Reading →
Brazil GDP Probably Shrank as Investment and Confidence Plummet
Brazil GDP Probably Shrank as Investment and Confidence Plummet By David Biller 12:01 AM BRT March 26, 2015 (Bloomberg) -- Brazil’s economy probably contracted in the fourth quarter of last year as stagflation plagues the world’s second-biggest emerging market. Gross domestic product fell 0.1 percent from the three previous months, according to the median forecast... Continue Reading →
Petrobras – Libra Consortium completes the drilling of the second appraisal well
Petrobras - Libra Consortium completes the drilling of the second appraisal well Rio de Janeiro, March 24, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the Libra consortium has completed the drilling of the extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results have confirmed the presence of a hydrocarbon-bearing column of approximately 200 meters of... Continue Reading →
Petrobras Debt Said to Swell 70 Billion Reais in Currency Rout
Petrobras Debt Said to Swell 70 Billion Reais in Currency Rout By Sabrina Valle 10:44 AM BRT March 25, 2015 (Bloomberg) -- The oil industry’s biggest debt load just got 70 billion reais ($22 billion) heavier thanks to Brazil’s plunging currency, two people with knowledge of the matter said. That’s the amount Petroleo Brasileiro SA’s... Continue Reading →
Petrobras scandal knocks broader Brazilian oil industry
http://www.ft.com/cms/s/0/9080ccd2-cdaa-11e4-8760-00144feab7de.html#ixzz3VOtZ6dDn March 25, 2015 11:41 am Petrobras scandal knocks broader Brazilian oil industry Samantha Pearson in São Paulo/Financial Times ©Getty Rogério Caffaro is in a surprisingly good mood for someone who works in Brazil’s crisis-ridden oil and gas industry. The chief executive of Triunfo Logística, which operates port terminals, has just had lunch with Chinese... Continue Reading →
Brazil Scales Back Currency Support as Real Sinks to 12-Year Low
Brazil Scales Back Currency Support as Real Sinks to 12-Year Low By David Biller Paula Sambo 11:55 AM BRT March 24, 2015 Aldo Mendes, executive director of monetary policy at Banco Central do Brasil. Photographer: Douglas Engle/Bloomberg (Bloomberg) -- Brazil’s central bank scaled back its support for the real, ending sales of new foreign-exchange swaps... Continue Reading →
Brazil Energy Insight 