Oil Surges on Signs of Growing Demand By TIMOTHY PUKO Updated April 6, 2015 3:51 p.m. ET Oil prices surged to their biggest gain in nearly two months, buoyed by signs of rising demand in the U.S. and Asia. Data provider Genscape Inc. reported that supplies in Cushing, Okla.—a key storage hub and the delivery... Continue Reading →
Petrobras / Clarification on News: Financial Statements
Petrobras Clarification on News: Financial Statements Rio de Janeiro, April 2, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER/CVM/SEP/GEA-1/No. 108/2015, which requests the following clarification: OFFICIAL LETTER /CVM/SEP/GEA-1/No. 108/2015 “In reference to news released on March 31, 2015 in the newspaper Folha Online entitled “List also prevents the release of Petrobras’s balance... Continue Reading →
Petrobras / Clarification on News: Pasadena
Petrobras Clarification on News: Pasadena Rio de Janeiro, April 2, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER/CVM/SEP/GEA-1/No. 109/2015, which requests the following clarification: OFFICIAL LETTER/CVM/SEP/GEA-1/No. 109/2015 “In reference to news released on April 1, 2015 in the newspaper Valor Econômico entitled “Petrobras refused Pasadena for US$ 40 million” containing the following... Continue Reading →
How Brazil’s ‘Nine Horsemen’ Cracked a Bribery Scandal
How Brazil’s ‘Nine Horsemen’ Cracked a Bribery Scandal Amid outrage over corruption allegations at Petrobras, prosecutors flip witnesses, make gains in wide-ranging probe Thousands took to the streets in Rio de Janeiro in March to protest alleged corruption involving executives of state-controlled oil company Petrobras and politicians. PHOTO: FABIO TEIXEIRA/ZUMA PRESS By WILL CONNORS And LUCIANA MAGALHAES/WSJ April... Continue Reading →
Petrobras Supplier Schahin Said Seeking Loan to Avert Bankruptcy
Petrobras Supplier Schahin Said Seeking Loan to Avert Bankruptcy By Peter Millard Francisco Marcelino Filipe Pacheco 11:46 AM BRT April 6, 2015 Schahin Petroleo & Gas SA, an offshore rig and platform supplier to Petroleo Brasileiro SA, is seeking a credit line to avoid filing for bankruptcy protection after getting blocked from new contracts by... Continue Reading →
Brazil Analysts Boost 2015 CPI, Cut GDP for 14th Straight Week
Brazil Analysts Boost 2015 CPI, Cut GDP for 14th Straight Week By Mario Sergio Lima 8:41 AM BRT April 6, 2015 Brazil economists raised their estimate for 2015 inflation and cut their growth forecast for the 14th straight week, as the government contends with a combination of above-target inflation and stagnating activity. Analysts raised their... Continue Reading →
Petrobras scandal prompts wave of investor lawsuits
http://www.ft.com/cms/s/0/95233aec-d942-11e4-a8f1-00144feab7de.html#ixzz3WWwdy87W April 5, 2015 1:41 am Petrobras scandal prompts wave of investor lawsuits Madison Marriage ©AFP Petrobras is being sued for losses suffered as a result of bribery alleged to have taken place at the company between 2004 and 2012 One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the... Continue Reading →
Political theatrics that are dividing Brazil
http://www.ft.com/cms/s/0/7117c462-d93b-11e4-a8f1-00144feab7de.html#ixzz3WWvdjOHr April 5, 2015 7:53 pm Political theatrics that are dividing Brazil Otavio Frias Filho/FT More than half of all Brazilians disapprove of Rousseff’s administration, writes Otavio Frias Filho ©EPA/Sebastiao Moreira Unrest: the Petrobras revelations have sparked protest To watch the political theatre now unfolding in Brazil is to behold a country licked by discontent... Continue Reading →
Petrobras’s China Cash Stems Bond Tumble But Comes With a Stigma
Petrobras’s China Cash Stems Bond Tumble But Comes With a Stigma By Julia Leite Paula Sambo 8:00 PM BRT April 5, 2015 Brazil’s state-run Petroleo Brasileiro SA may be putting itself in the company of some of Latin America’s most distressed borrowers by turning to China for loans, but its bondholders don’t mind. They’re just... Continue Reading →
Esteves’s ‘Better Than Goldman’ Promise Faces Biggest Threat Yet/Sete Brasil
Esteves’s ‘Better Than Goldman’ Promise Faces Biggest Threat Yet/Sete Brasil By Cristiane Lucchesi 7:00 AM BRT April 6, 2015 Billionaire Andre Esteves of BTG Pactual SA. Jin Lee/Bloomberg The golden boy of Brazilian finance is confronting his toughest threat yet. Andre Esteves, who transformed Grupo BTG Pactual into the largest independent investment bank in Latin... Continue Reading →
