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Exxon Posts Sharply Lower Results But Tops Estimates Exxon boosted its quarterly dividend this week. PHOTO: ANDREY RUDAKOV/BLOOMBERG NEWS By CHELSEY DULANEY/WSJ April 30, 2015 8:06 a.m. ET Exxon Mobil Corp., the biggest and richest U.S. oil company, posted a 46% drop in first-quarter profit, hurt by the sharp slump in oil prices, though results still topped expectations. Exxon... Continue Reading →
Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? Rising oil-exploration costs and shrinking valuations of smaller players make takeovers likely The rising costs of finding and producing oil were eating into profits even before global crude prices began to slide last summer from over $100 a barrel to about $66. PHOTO: REUTERS By DANIEL... Continue Reading →
Shell Profit Beats Analyst Estimates After Gains From Refining By Rakteem Katakey 3:07 AM BRT April 30, 2015 Royal Dutch Shell Plc, the oil producer buying BG Group Plc for $70 billion, reported first-quarter profit that beat analysts’ estimates as refining and trading earnings countered part of the drop in crude prices. Profit adjusted for... Continue Reading →
G-20’s Only Rate Boost to Go On as Prices Rise Amid Brazil Slump By Mario Sergio Lima Raymond Colitt / Bloomberg 11:22 PM BRT April 29, 2015 Brazil’s central bank signaled it will raise interest rates for a sixth time in June as Latin America’s largest economy attempts to tame runaway inflation. The bank’s board... Continue Reading →
House Arrest for Brazil Executives Seen as Blow to Graft Probe By David Biller Anna Edgerton / Bloomberg 4:05 PM BRT April 29, 2015 A decision by Brazil’s Supreme Court to free executives accused of involvement in a kickback scheme at state-run oil producer Petroleo Brasileiro SA is likely to slow down the investigation into... Continue Reading →
Petrobras - Notices and Facts Conclusion of the third well in the Moita Bonita Area, at Sergipe´s Basin Rio de Janeiro, April 29th, 2015 – Petróleo Brasileiro S.A. – Petrobras announces the conclusion of the well drilling 3-BRSA-1296-SES (ANP nomenclature) in Sergipe Basin´s ultra-deep waters, in concession BM-SEAL-10, block SEAL-M-499. The test results confirmed the... Continue Reading →
U.S. Economic Growth Nearly Stalls Out Businesses slash investment, exports tumble and consumers show caution as GDP expands at 0.2% pace The U.S. economy slowed sharply at the start of the year as businesses slashed investment, exports tumbled and consumers showed signs of caution., Here, a pallet of lumber gets marked at the Allegheny Millwork... Continue Reading →
Wed Apr 29, 2015 1:29am EDT Brazil readies a steep interest rate rise to salvage credibility BRASILIA | BY ALONSO SOTO Brazilian Central bank chief Alexandre Tombini gestures as he attends a meeting with businessmen in Sao Paulo March 18, 2015. REUTERS/PAULO WHITAKER (Reuters) - Brazil is poised to deliver another big interest rate increase on Wednesday as... Continue Reading →
Nine Brazilian Executives Accused of Graft in Petrobras Case to Be Released Supreme Court says executives will wear ankle monitors and will be under house arrest By LUCIANA MAGALHAES/WSJ April 28, 2015 10:11 p.m. ET SÃO PAULO—Brazil’s Supreme Court said Tuesday it has allowed the release from jail of nine executives accused in the alleged graft... Continue Reading →
Three Petrobras Board Members Criticize 2014 Earnings Calculations Last week’s earnings report included write-downs related to a massive graft scandal at the oil company By PAUL KIERNAN/WSJ April 28, 2015 5:09 p.m. ET RIO DE JANEIRO—Three independent members of the board of directors of Brazil’s state-run Petróleo Brasileiro SA strongly criticized the company’s calculations of its 2014 financial results... Continue Reading →
