Thu May 21, 2015 7:42am EDT Brazil's economic activity down 1.07 pct in March -central bank BRASILIA/Reuters May 21 The Brazilian central bank's IBC-Br economic activity index dropped a seasonally adjusted 1.07 percent in March from February, the bank said on Thursday. The index showed that the Brazilian economy contracted 0.8 percent in the first... Continue Reading →
Petrobras may need to re-publish Q1 results due to accounting issue- regulator
Wed May 20, 2015 4:19pm EDT Petrobras may need to re-publish Q1 results due to accounting issue- regulator SAO PAULO/Reuters May 20. Brazil's state-run oil company Petroleo Brasileiro SA could be forced to re-publish first-quarter results after it included a contract completed after the reporting period, the president of Brazil's markets regulator said on Wednesday.... Continue Reading →
Petrobras probe looks to dig up corpse
http://www.ft.com/cms/s/0/4badd072-ff3d-11e4-84b2-00144feabdc0.html#ixzz3alkIKZkx May 20, 2015 11:54 pm Petrobras probe looks to dig up corpse Joe Leahy in São Paulo/FT ©Getty An investigation into corruption at Petrobras took a macabre turn on Wednesday as Brazil’s Congress sought to exhume the corpse of the scandal’s alleged political mastermind to quell suspicions that he might still be alive. A congressional inquiry... Continue Reading →
Oil Giants Band Together to Add Their Voice to Climate Debate
Oil Giants Band Together to Add Their Voice to Climate Debate By Tara Patel Stefan Nicola/Bloomberg 8:30 PM BRT May 20, 2015 Europe’s largest oil companies are banding together to forge a joint strategy on climate change policy, alarmed they’ll be ignored as the world works toward a historic deal limiting greenhouse gases. Royal Dutch... Continue Reading →
‘Shale-ionaires’ Suffering from Wave of Bankrupt Oil Drillers
‘Shale-ionaires’ Suffering from Wave of Bankrupt Oil Drillers By Kelly Gilblom/Bloomberg 9:00 PM BRT May 20, 2015 At the height of the U.S. energy boom, Texas landowner John Baen received about $100,000 a month in royalty payments from companies producing oil and natural gas on his property. Now the checks are much smaller, and when... Continue Reading →
Alfa, Harbour to Buy Pacific Rubiales in $1.7 Billion Deal
Alfa, Harbour to Buy Pacific Rubiales in $1.7 Billion Deal by James Paton/Bloomberg 1:36 AM BRT May 21, 2015 Alfa SAB and Harbour Energy Ltd. agreed to acquire Pacific Rubiales Energy Corp. in a deal that values Latin America’s largest non-state oil producer at about C$2.1 billion ($1.7 billion). The companies agreed to pay C$6.50... Continue Reading →
Transocean Joins Halliburton in BP Deal Resolving Macondo Claims
Transocean Joins Halliburton in BP Deal Resolving Macondo Claims by David Wethe/Bloomberg 5:59 PM BRT May 20, 2015 Transocean Ltd., owner of the rig that sank in the 2010 Macondo disaster in the Gulf of Mexico, joined Halliburton Co. in settling all remaining issues with BP Plc, according to a person familiar with the deal.... Continue Reading →
Exxon Mobil Says Oil Discovery Off Guyana Is ‘Significant’
Exxon Mobil Says Oil Discovery Off Guyana Is 'Significant' By THE ASSOCIATED PRESS MAY 20, 2015, 4:52 P.M. E.D.T.NYT GEORGETOWN, Guyana — Exxon Mobil Corp. confirmed Wednesday that it has made what it calls a "significant" oil discovery off Guyana in waters also claimed by Venezuela as part of a long-running border dispute between the South... Continue Reading →
Petrobras Turns to China for $10 Billion to Avert Cash Crunch
Petrobras Turns to China for $10 Billion to Avert Cash Crunch by Juan Pablo Spinetto Sabrina Valle/Bloomberg 3:43 PM BRT May 20, 2015 What do you do when you’re burdened with the oil industry’s biggest debt, credit is drying up and some of your main suppliers are under the gun? Call China. Brazilian President Dilma... Continue Reading →
Oil market buoyed by product demand
http://www.ft.com/cms/s/0/83bc066a-fedd-11e4-94c8-00144feabdc0.html#ixzz3ahoYFLnD May 20, 2015 6:42 pm Oil market buoyed by product demand Anjli Raval and Neil Hume/FT ©Bloomberg The oil market is coping with storage capacity limits because demand for products such as petrol has been unexpectedly strong, says a senior executive at the world’s biggest independent oil trader. Demand growth was “back up to 1.4-1.5m barrels... Continue Reading →
