Oil Servicers ‘Ugly’ Second Quarter Seen as Prompting Mergers By David Wethe/Bloomberg 9:30 AM BRT May 14, 2015 Deals among oil service companies trying to survive a collapse in crude prices are expected to pick up in the second half of the year as profits in the sector hit a low point. Demand for drilling,... Continue Reading →
Brazilian Real Advances as Fed Outlook Overshadows Levy Setback
Brazilian Real Advances as Fed Outlook Overshadows Levy Setback by Paula Sambo/Bloomberg 10:15 AM BRT May 14, 2015 i Brazil’s real led gains among major currencies as speculation the Federal Reserve will keep interest rates near zero overshadowed a setback in Finance Minister Joaquim Levy’s spending cut efforts. The real rose 1 percent to 3.0087 per... Continue Reading →
Petrobras to use Edison Chouest offshore base at Brazil’s Açu port
Wed May 13, 2015 5:00pm EDT Petrobras to use Edison Chouest offshore base at Brazil's Açu port RIO DE JANEIRO/Reuters May 13 Brazil's state-run oil company Petrobras will use offshore docks operated by U.S. ship-leasing company Edison Chouest to handle oil-service vessels at the Brazilian Port of Açu, the head of the company that owns... Continue Reading →
Petrobras scandal looms large in Shell’s plan to buy BG Group
http://www.ft.com/cms/s/0/32ab70fe-e2c1-11e4-bf4b-00144feab7de.html#ixzz3a6gH1A1D May 14, 2015 11:08 am Petrobras scandal looms large in Shell’s plan to buy BG Group Joe Leahy in São Paulo, Jamie Smyth in Sydney, Christopher Adams in London/FT ©Getty As Royal Dutch Shell seeks to finalise its £55bn takeover of smaller UK-based rival BG Group, it will be closely watching the situation at Petrobras, Brazil’s state-controlled oil company that... Continue Reading →
Brazil Congress Upsets Levy Measures With Push to Boost Pensions
Brazil Congress Upsets Levy Measures With Push to Boost Pensions By Raymond Colitt Arnaldo Galvao/Bloomberg 7:44 PM BRT May 13, 2015 Joaquim Levy, finance minister of Brazil, speaks at the Bloomberg Americas Monetary Summit in New York, on April 20, 2015. Photographer: Michael Nagle/Bloomberg Brazil’s lower house approved an amendment that raises benefits for pensioners,... Continue Reading →
Shale-Oil Producers Ready to Raise Production
Shale-Oil Producers Ready to Raise Production Bringing shale-oil rigs back into service sets up the first big test of producers’ ability to react to rising crude prices A Pioneer Natural Resources oil rig in the Eagle Ford shale region of Texas. The company said last week it hopes to increase drilling and add two new... Continue Reading →
Saudi claims oil price strategy success
http://www.ft.com/cms/s/2/69350a3e-f970-11e4-be7b-00144feab7de.html#ixzz3a2uhthvG Last updated: May 13, 2015 6:56 pm Saudi claims oil price strategy success Anjli Raval in Riyadh/FT ©PA The New Oil Order Saudi Arabia says its strategy of squeezing high-cost rivals such as US shale producers is succeeding, as the world’s largest crude exporter seeks to reassert itself as the dominant force in the global oil market.... Continue Reading →
Brazil’s Real Erases Gain After Net Outflow Posted in Early May
Brazil’s Real Erases Gain After Net Outflow Posted in Early May by Paula Sambo/Bloomberg 10:13 AM BRT May 13, 2015 Brazil’s real declined, erasing its gain after the central bank posted a net foreign-exchange outflow of $2.56 billion from May 1-8. The real depreciated 0.2 percent to 3.0247 per dollar at 12:56 p.m. in Sao... Continue Reading →
Brazil’s Petrobras expects to export 350,000 bpd in 2015
Wed May 13, 2015 10:46am EDT Brazil's Petrobras expects to export 350,000 bpd in 2015 RIO DE JANEIRO/Reuters May 13 Brazil's state-run oil company Petroleo Brasileiro SA expects to export 350,000 barrels of petroleum per day in 2015, crude oil manager Fernando Colares Nogueira said at an event on Wednesday. At the same event, the... Continue Reading →
Brazilian CEO to sign plea deal in Petrobras case -paper
Wed May 13, 2015 10:14am EDT Brazilian CEO to sign plea deal in Petrobras case -paper SAO PAULO/Reuters May 13 The head of Brazilian construction firm UTC Engenharia will sign a plea bargain deal with prosecutors, newspaper Folha de S. Paulo said on Wednesday, making him the highest-level executive to collaborate with a corruption... Continue Reading →
