Petrobras Cut to Junk by Moody’s as Probe Hobbles Oil Producer By Filipe Pacheco Sabrina Valle 9:08 PM BRT February 24, 2015 (Bloomberg) -- Petroleo Brasileiro SA’s descent into junk-bond status may be far from over. Moody’s Investors Service kept a negative outlook on the state-controlled oil producer’s rating after cutting it to Ba2,... Continue Reading →
The 0-for-27 Tally on Debt Ratings Seen Worsening: Brazil Credit
The 0-for-27 Tally on Debt Ratings Seen Worsening: Brazil Credit by Filipe Pacheco Ney Hayashi Cruz 1:43 AM BRT February 25, 2015 (Bloomberg) -- To appreciate just how bad things are in Brazil, consider this: its companies have suffered 27 rating downgrades in the first two months of the year. The number of upgrades? Zero.... Continue Reading →
Moody’s Cuts Petrobras’s Debt to Junk
Moody’s Cuts Petrobras’s Debt to Junk Ratings firm said it is keeping its review of Brazil-controlled energy company on review for downgrade By PAULO TREVISANI Updated Feb. 24, 2015 7:32 p.m. ET BRASÍLIA—Moody’s Investors Service said Tuesday it downgraded Petróleo Brasileiro SA ’s debt to junk status. The embattled energy company controlled by the Brazilian government and... Continue Reading →
Builder Mata Pires Becomes Brazil’s Latest Ex-Billionaire
Builder Mata Pires Becomes Brazil's Latest Ex-Billionaire By Blake Schmidt Sabrina Valle 11:45 AM BRT February 24, 2015 (Bloomberg) -- Cesar Mata Pires amassed one of Brazil’s biggest fortunes by building World Cup stadiums, offshore oil platforms and highways from Haiti to Angola. At its peak in 2014, Mata Pires’s net worth stood at $7... Continue Reading →
Brazil Shipyard EAS Ends $6 Billion Deal to Make Petrobras Rigs
Brazil Shipyard EAS Ends $6 Billion Deal to Make Petrobras Rigs By Christiana Sciaudone Yasmine Batista 4:02 PM BRT February 23, 2015 (Bloomberg) -- Sete Brasil Participacoes SA, the company founded to lease oil rigs to Petroleo Brasileiro SA, said it’s considering legal measures against a shipyard that pulled out of a $6 billion... Continue Reading →
How low can you go? Doing the Petrobras Limbo!
How low can you go? Doing the Petrobras Limbo! http://aswathdamodaran.blogspot.com.br/2015/02/how-low-can-you-go-doing-petrobras-limbo.html Excel Attachment: PBR2015 Donadaran Tuesday, February 10, 2015 A few months ago, I suggested that investors venture where it is darkest, the nether regions of the corporate world where country risk, commodity risk and company risk all collide to create investing quicksand. I still own... Continue Reading →
MULTINATIONALS FACE SCRUTINY ON PETROBRAS
http://www.ft.com/cms/s/0/c0ce6a6c-b918-11e4-a8d0-00144feab7de.html#ixzz3SWZLIvOJ February 22, 2015 2:37 pm Multinationals face scrutiny on Petrobras Joe Leahy in São Paulo ©Bloomberg It was over lunch some years ago that Paulo Roberto Costa, a former executive of Brazil’s state-owned oil company Petrobras, who today is the star witness in the country’s largest corruption case, claims he first met Maersk executive Viggo Andersen.... Continue Reading →
Brazil Prosecutors seek $1.6 Billion From Builders in Graft Case
Brazil Prosecutors seek $1.6 Billion From Builders in Graft Case by Sabrina Valle 1:21 PM UYST February 20, 2015 (Bloomberg) -- Some of Brazil’s biggest building companies were targeted for the first time in an investigation into alleged kickbacks at Petroleo Brasileiro SA, with prosecutors seeking 4.47 billion reais ($1.6 billion) in compensation.... Continue Reading →
Opec has ceded to the US its power over oil price
http://www.ft.com/cms/s/0/92ab80e4-b827-11e4-b6a5-00144feab7de.html#ixzz3SDwCBCQu February 19, 2015 4:37 pm Opec has ceded to the US its power over oil price Alan Greenspan Shale breakthrough will be a more effective market stabiliser, writes Alan Greenspan Normal diplomacy probably could not have achieved the geopolitical outcomes that have been produced in the past year by America’s shale oil revolution. Oil prices... Continue Reading →
Contributing editor’s comments
Multinationals named, so far, in the Petrobras corruption investigation It is not just the local Brazilian suppliers that are involved in the graft investigations at Petobras but the following multinationals have been named and will be investigated by their governments, the SEC and the US Justice Dept.: Dutch SMB, Swede Skanska, Korean Samsung Heavy Industries,... Continue Reading →
Brazil Energy Insight 