Oil Selloff Sinks Petrobras Shares

Shares of Petrobras extended a three-day plunge as crude sank 4.2 percent to $56.96 a barrel after data showing U.S. stockpiles rose for the first time in nine weeks and OPEC production increased. The state-run company has said that investments in oil and gas offshore production are economically […]

Dilma’s Rating Hits Lowest Point

Brazilian President Dilma Rousseff’s approval rating decreased in a poll conducted by Ibope amid a shrinking economy and a growing corruption scandal. The president’s administration approval rating on June 18-21 was 15 percent compared with 19 percent in the previous poll in March, according to Ibope. Contracted by […]

Will Petrobras Deliver?

Brazilian state-run oil company Petroleo Brasileiro SA’s long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. Petrobras has not met an annual production target since 2003 when the Workers’ Party government of […]

Odebrecht and Andrade Gutierrez Downgraded/Fitch

Fitch Ratings cut the ratings on Brazilian builders Odebrecht Engenharia e Construcao SA and Construtora Andrade Gutierrez SA as the nation’s largest corruption probe continues to widen. Odebrecht Engenharia was downgraded to BBB-, the lowest level of investment grade, while Andrade Gutierrez was cut to junk at BB+. […]

Petrobras – Clarification on News: Sale of Ships

Clarification on News: Sale of Ships 06/29/2015 Rio de Janeiro, June 29th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter n.º 204/2015/CVM/SEP/GEA-1 which requests clarification, as below: OFFICIAL LETTER n.º 204/2015/CVM/SEP/GEA-1 “We referred to news released on this date, in the newspaper “Valor Online”, entitled: […]