OAS Files for Bankruptcy as Petrobras Probe Embroils Builder By Paula Sambo Christiana Sciaudone 2:46 PM BRT March 31, 2015 (Bloomberg) -- Brazilian builder OAS SA filed for bankruptcy, making it the largest company to seek protection as a bribery scandal involving state-controlled oil producer Petroleo Brasileiro SA engulfs the construction industry. OAS, which missed... Continue Reading →
Oil majors over a barrel due to falling reserves
http://www.ft.com/cms/s/0/2d35d198-d6b7-11e4-97c3-00144feab7de.html#ixzz3VzBe4t6k March 31, 2015 5:38 pm Oil majors over a barrel due to falling reserves Christopher Adams, Energy Editor/Financial Times ©Bloomberg The world’s largest oil and gas groups shed more than a billion barrels of reserves in 2014, the sharpest decline in at least six years, according to figures that show their exploration record has... Continue Reading →
Petrobras Investors Claim PwC Ignored Red Flags of Fraud
Petrobras Investors Claim PwC Ignored Red Flags of Fraud By Patricia Hurtado 7:04 PM BRT March 30, 2015 (Bloomberg) -- Investors in Petroleo Brasileiro SA, the state-run oil company at the center of a kickback scandal in Brazil, expanded their lawsuit against the company by adding claims that auditor PricewaterhouseCoopers LLP turned a “blind eye”... Continue Reading →
Class Action Complaint Against Petroleo Brasileiro S.A.- Petrobas and Certain Additional Defendants – PBR
Class Action Complaint Against Petroleo Brasileiro S.A.- Petrobas and Certain Additional Defendants - PBR March 30, 2015 07:30 ET | Source: Pomerantz LLP NEW YORK, March 30, 2015 (GLOBE NEWSWIRE) -- Lead Counsel Pomerantz LLP announces the filing of a consolidated amended securities class action complaint ("CAC") against Petroleo Brasileiro S.A. — Petrobras ("Petrobras" or the "Company") (NYSE:PBR), its... Continue Reading →
ExxonMobil Begins Production at Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively.
ExxonMobil Begins Production at Hadrian South; co-venturers Petrobras and Eni hold 23.3 percent and 30 percent, respectively. ExxonMobil BeginsProduction at HadrianSouth in Gulf of Mexico Gross daily production to reach approximately 300 million cubic feet of gas and 3,000 barrels of liquids ExxonMobil net daily production from Hadrian South and Lucius to reach more than... Continue Reading →
Brazil Has No Room for Errors, Finance Minister Says
Brazil Has No Room for Errors, Finance Minister Says Government has run out of quick fixes for its economy, Levy warns Brazilian Finance Minister Joaquim Levy said the government has run out of quick fixes for the country’s economic problems. PHOTO:AGENCE FRANCE-PRESSE/GETTY IMAGES By LUCIANA MAGALHAES And JEFFREY T. LEWIS/WSJ March 30, 2015 3:08 p.m. ET SÃO... Continue Reading →
Brazil’s Currency Extends Biggest Quarterly Decline Since 2002
Brazil’s Currency Extends Biggest Quarterly Decline Since 2002 By Paula Sambo 10:34 AM BRT March 30, 2015 (Bloomberg) -- Brazil’s real extended its biggest quarterly decline since 2002 amid concern that comments from Finance Minister Joaquim Levy reported over the weekend will make it harder for the government to rein in deficits and preserve the... Continue Reading →
Dealing with Dilma
Brazil and its president Dealing with Dilma Many Brazilians are fed up with their president. But impeaching her would be a bad idea Mar 28th 2015 | From the print edition SHE is less than three months into her second term, but already most Brazilians want to see the back of Dilma Rousseff. Grappling with... Continue Reading →
Skagen Bets on Petrobras as Producer Seen Emerging Stronger
Skagen Bets on Petrobras as Producer Seen Emerging Stronger By Jonas Cho Walsgard 7:01 PM BRT March 29, 2015 (Bloomberg) -- Skagen AS, whose emerging market fund has beaten the benchmark eight of the past 10 years, is snapping up shares in Petroleo Brasileiro SA in a bet the state-owned oil producer will emerge stronger... Continue Reading →
Economists Again Cut Growth Forecasts for Brazil
Economists Again Cut Growth Forecasts for Brazil Brazil’s 2015 GDP is expected to shrink by 1% this year By ROGERIO JELMAYER/WSJ March 30, 2015 7:59 a.m. ET SÃO PAULO—Economists again cut their growth forecasts for Brazil in 2015 and for next year, as Latin America’s largest economy struggles to regain traction. Brazil’s 2015 gross domestic... Continue Reading →
