Brazil GDP Probably Shrank as Investment and Confidence Plummet By David Biller 12:01 AM BRT March 26, 2015 (Bloomberg) -- Brazil’s economy probably contracted in the fourth quarter of last year as stagflation plagues the world’s second-biggest emerging market. Gross domestic product fell 0.1 percent from the three previous months, according to the median forecast... Continue Reading →
Petrobras – Libra Consortium completes the drilling of the second appraisal well
Petrobras - Libra Consortium completes the drilling of the second appraisal well Rio de Janeiro, March 24, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the Libra consortium has completed the drilling of the extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results have confirmed the presence of a hydrocarbon-bearing column of approximately 200 meters of... Continue Reading →
Petrobras Debt Said to Swell 70 Billion Reais in Currency Rout
Petrobras Debt Said to Swell 70 Billion Reais in Currency Rout By Sabrina Valle 10:44 AM BRT March 25, 2015 (Bloomberg) -- The oil industry’s biggest debt load just got 70 billion reais ($22 billion) heavier thanks to Brazil’s plunging currency, two people with knowledge of the matter said. That’s the amount Petroleo Brasileiro SA’s... Continue Reading →
Petrobras scandal knocks broader Brazilian oil industry
http://www.ft.com/cms/s/0/9080ccd2-cdaa-11e4-8760-00144feab7de.html#ixzz3VOtZ6dDn March 25, 2015 11:41 am Petrobras scandal knocks broader Brazilian oil industry Samantha Pearson in São Paulo/Financial Times ©Getty Rogério Caffaro is in a surprisingly good mood for someone who works in Brazil’s crisis-ridden oil and gas industry. The chief executive of Triunfo Logística, which operates port terminals, has just had lunch with Chinese... Continue Reading →
Brazil Scales Back Currency Support as Real Sinks to 12-Year Low
Brazil Scales Back Currency Support as Real Sinks to 12-Year Low By David Biller Paula Sambo 11:55 AM BRT March 24, 2015 Aldo Mendes, executive director of monetary policy at Banco Central do Brasil. Photographer: Douglas Engle/Bloomberg (Bloomberg) -- Brazil’s central bank scaled back its support for the real, ending sales of new foreign-exchange swaps... Continue Reading →
After S&P Ratings Reprieve, Brazil Faces Some Tough Economic News
After S&P Ratings Reprieve, Brazil Faces Some Tough Economic News Friday’s report on GDP expected to show contraction for last year Brazil's President Dilma Rousseff got a reprieve on Monday when Standard & Poor’s didn’t downgrade her country’s debt rating, but she faces an expected weak economic report on Friday, which is expected to show... Continue Reading →
S&P/Odebrecht Oleo e Gas Ratings Lowered To ‘BB-‘ From ‘BB+’ On Petrobras’ Weaker Stand-Alone Credit Profile
S&P/Odebrecht Oleo e Gas Ratings Lowered To 'BB-' From 'BB+' On Petrobras' Weaker Stand-Alone Credit Profile Publication date: 24-Mar-2015 13:56:02 EDT On March 23 2015, we affirmed our 'BBB-' corporate credit rating on Brazil-based integrated oil and gas company, Petrobras, and revised downward our stand-alone credit profile (SACP) on the company to 'b+' from 'bb'.... Continue Reading →
Real Rises as S&P Brazil Affirmation Overshadows Currency Stance
Real Rises as S&P Brazil Affirmation Overshadows Currency Stance By Paula Sambo 10:19 AM BRT March 24, 2015 (Bloomberg) -- Brazil’s real climbed for a third straight day as Standard & Poor’s affirmation of the nation’s investment-grade credit rating overshadowed speculation that the central bank will phase out sales of swaps supporting the currency. The... Continue Reading →
Brazil Said Planning Oilfield Auction to Bolster Ailing Industry
Brazil Said Planning Oilfield Auction to Bolster Ailing Industry By Anna Edgerton 1:30 PM BRT March 24, 2015 Brazil plans to auction onshore fields in the second half of the year to encourage foreign oil companies to remain active in the country, according to two government officials with direct knowledge of the matter. Photographer:... Continue Reading →
Petrobras’s Bonds Advance as S&P Affirms Ratings, Cuts Outlook
Petrobras’s Bonds Advance as S&P Affirms Ratings, Cuts Outlook By Julia Leite 8:16 PM BRT March 23, 2015 (Bloomberg) -- Petroleo Brasileiro SA bonds rallied after Standard & Poor’s held off on downgrading the company’s credit rating, cutting only the outlook on the grade as the oil producer faces difficulties in financing investments. The state-controlled... Continue Reading →
