Hints and tips:
...“The closing of the energy space to private investment puts more pressure on Pemex,” said Lisa Schineller, sovereign ratings managing director at S&P....
...The resource is now a cash gusher — both for the national coffers and outside investors in Petrobras, founded 70 years ago as Petróleo Brasileiro....
...Founded 70 years ago as Petróleo Brasileiro, the business is listed on the stock market but the government is its biggest shareholder....
...Petróleo Brasileiro, as the Rio de Janeiro-headquartered group is formally known, said on Tuesday that Caio Mário Paes de Andrade would join the incoming administration of the newly elected governor of São...
...Petróleo Brasileiro, as the Rio de Janeiro-headquartered group is formally known, on Tuesday said Caio Mário Paes de Andrade would join the incoming administration of the newly elected governor of São Paulo...
...After emerging from the scandal and financial turmoil of the previous decade, $76bn oil and gas giant Petróleo Brasileiro is leaner, more profitable — and a cash machine for its owners....
...The populist sentiment behind the phrase, which means “the oil is ours”, is never far from Petróleo Brasileiro, better known as Petrobras. Especially when fuel bills are on the rise....
...The company, whose full name is Petróleo Brasileiro, announced the spending plan for 2022 to 2026 this week, with an almost one-quarter increase compared to its previous budget of $55bn for the period starting...
...Petróleo Brasileiro, as the group is formally known, was viewed as a test case for the pro-market reform agenda of economy minister Paulo Guedes, who has largely struggled to implement meaningful change...
...by Venezuela’s state-owned oil company, Petróleos de Venezuela....
...Joydeep Mukherji at S&P Global Ratings told the Financial Times a sovereign downgrade depended on how Mexico’s debt and growth evolved. “It could be one or the other,” he said....
...S&P Global, the rating agency, declared the country in default shortly afterwards....
...Fitch downgraded its debt to junk in June and Moody’s put the company on negative outlook, while S&P is also believed to be considering a downgrade to junk, a move that would force some holders of Pemex...
...S&P sees “a possibility of at least one in three that we will lower the sovereign rating during the coming year”, which could lead to a cascade of corporate downgrades....
...S&P reiterated its foreign-currency debt rating of BBB+ and A- in local currency, but lowered Pemex’s standalone credit profile to B- from BB- “owing to the continued deterioration in the profiles of business...
...In gas, Mexican imports of cheap US gas are already at an all-time high, and Ross Wyeno at S&P Global expects them to grow by at least 34 per cent by 2024....
...“Crystallex and PDVSA shall meet and confer and, no later than August 16, 2018, submit a joint status report providing their position(s) as to how this case should now proceed,” he said....
...Booming US labour market draws new jobseekers Corporate earnings Brazil’s Petroleo Brasileiro SA reports its second-quarter results, after a national crisis over diesel prices in May led to government...
...Meanwhile, Gary Ross, head of oil at S&P Global Platts, warned that western energy majors could further scale back operations in Venezuela....
...Separately, however, the Isda committee accepted a request to make a decision on Venezuela itself, after S&P said the country had defaulted after missing $200m of payments due late on Monday....
...Rating agency S&P on Monday night confirmed what many analysts and investors have been bracing for in recent years: Venezuela is officially in default on its sovereign debts, after missing $200m of interest...
...None of the big rating agencies have formally declared a default yet, but S&P Global Ratings on Monday lowered the country’s rating to CC, the second-lowest rung possible, and said there was a 50 per cent...
...The arrival of new companies into Mexico’s oil sector “creates a sense of urgency which is greatly needed”, he said. “[A big discovery] raises the profile [of Mexico] for everyone....
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