British firms in the running for Petrobras oil fields British firms in the running for Petrobras oil fields British firms Trident Energy and Premier Oil, along with Anglo-French producer Perenco, are rumoured to be weighing up the purchase of Petrobras’ Brazilian oil fields. Sources told Reuters that the firms were in preliminary deliberations concerning a cluster of mature fields in Brazil’s Campos basin. Read more: Petrobras offloads gas pipeline to Engie as firm [...]
Petrobras offloads gas pipeline to Engie as Brazilian firm looks to cut debt A consortium led by Engie has sealed the purchase of Petrobras’ Tag natural gas pipeline arm for $8.6bn (£6.6bn), in a move which helps Petrobras tackle its debt pile. Engie said this morning a consortium with Canadian institutional investor Caisse de Depot et Placement du Quebec (CDPQ) had made a successful offer for a 90 [...]
Brazil overtakes Russia as biggest exporter to small Chinese refineries as trade war slashes US imports Brazil overtook Russia as the biggest supplier of crude oil to China’s independent refineries last month, as the trade war with the US transformed global oil supply lines. Crude shipments from the South American country hit 2.17 million tonnes in February, overtaking Russia, however they were down 5.4 per cent from January, data from S&P [...]
Credit Suisse blasted by Swiss watchdog for corruption failings September 17, 2018 Credit Suisse has been slammed by the Swiss banking watchdog for “deficiencies” in its anti-money laundering procedures in connection with suspected corruption at football body FIFA. Swiss Financial Market Supervisory Authority (Finma) said today it had concluded two enforcement procedures against the bank. The first uncovered “deficiencies in the bank’s adherence to anti-money laundering due [...]
Protests grow as Brazil’s crisis deepens: Impeachment threats make Dilma Rousseff’s future look uncertain August 19, 2015 Crisis is engulfing Brazil as hundreds of thousands of protesters have taken to the streets demanding the impeachment of President Dilma Rousseff, as the country slides into its worst economic crisis for 25 years. Protests have taken place across the country in the third major day of demonstrations this year, following unrest in March [...]
New credit crisis brews in emerging markets March 30, 2015 Beware contagion from looming bank failure in Brazil INVESTORS in emerging markets have been left sorely disappointed in recent years, as on-going political and economic problems are plaguing the sector’s key nations, including Brazil, China, Turkey and Russia. Over five years, the MSCI Emerging Markets index has risen just 8.9 per cent, compared to the [...]
Rolls-Royce embroiled in Petrobras bribery scandal following annus horribilis for both companies February 16, 2015 Rolls-Royce was dealt a fresh blow yesterday, as it faced allegations of bribery after being dragged into the ongoing series of scandals surrounding Brazilian oil giant Petrobras. The British company, which manufactures turbines for Petrobras, was named in court documents by a key informant in a multi-billion dollar bribery case against the state-owned oil firm. [...]
Rolls-Royce dragged into Petrobras bribery scandal February 16, 2015 Shares in embattled engineering giant Rolls-Royce opened 0.8 per cent lower this morning, after it was revealed it has been dragged into a multi-billion dollar bribery scandal by Brazillian state oil producer Petrobras. The company has been accused of paying out bribes in exchange for contracts to build gas turbines for oil platforms. The accusations [...]
Petrobras boss quits alongside five executives February 4, 2015 BRAZILIAN state-owned oil firm Petrobras confirmed the departure of its chief executive, Maria das Gracas Foster, and five other executive directors yesterday. Shares jumped by eight per cent in early trading in Sao Paolo following the announcement of the departures, yet closed only narrowly up. President Dilma Rousseff is being lined up as a replacement [...]
Petrobras share price jumps as chief Maria das Graças Foster and five senior executives resign amid Brazil corruption scandal February 4, 2015 Petrobras chief executive Maria das Graças Foster and five other senior executives of the Brazilian oil company have resigned in the wake of an ongoing corruption scandal. The departures sent shares in the state-run oil giant rising by more than six per cent in early trading in Sao Paulo, extending yesterday’s gains of more than [...]