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Petróleo Brasileiro S.A. or Petrobras (PBR - Free Report) is set to release fourth-quarter 2017 results after the closing bell on Mar 20. In the preceding three-month period, the Rio de Janeiro-headquartered integrated player reported a negative earnings surprise of 80.00%. Judicial contingency provisions, payments on account of a tax agreement with Brazil’s government, weak domestic demand and lower margin at its downstream unit affected the Brazilian state-run energy giant last quarter. (33-0)
2018 is turning out to be a favorable year for Petróleo Brasileiro S.A. or Petrobras (PBR - Free Report) , with its share price surging almost 40% year to date compared with the industry’s gain of 21%. (21-0)
Gains in the Consumer Staples sector, +3.38%, more than offset losses in the Materials sector, -2.25%. (34-0)
S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has recovered early losses to be trading up for the day with an hour to go. (34-0)
S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has recovered 25 points from its morning low to be flat just after midday. (34-0)
The ASX 200 is down 8 points or 0.2% to 5,933 just after opening bell this morning. (34-0)
Furthermore, BHP Billiton Limited (ASX:BHP) is set to drag the Australian market down today after failing to impress investors with its result yesterday after-market. (34-0)
More often than not, owning Petrobras hasn't been a good choice. The company has a record of destroying shareholder value. (6-0)
A selloff in tech stocks and a crucial U.S. tax legislation dominated proceedings for Europe’s bourses last week. Asia’s stocks remained mixed even as investors largely ignored North Korea’s latest missile launch. Concerns surrounding pension reforms continued to weigh on Brazil’s stocks while Chile’s investors remained apprehensive about upcoming presidential elections. Tech Selloff Weighs on Europe’s Stocks, Investors Focus on U. (136-0)
Benchmarks turned in mixed performances on Monday as the rally in retail stocks earlier in the session petered out. Moreover, energy shares declined after oil prices fell as investors speculated that the production-cut deal would be extended by OPEC in the meeting slated for this week. Nevertheless, investors remained hopeful of a likely cut in corporate taxes and this boosted the investor sentiment. (80-0)
A cloud of uncertainty looms over Brazilian energy giant Petroleo Brasileiro S.A. or Petrobras’ (PBR - Free Report) divestment agreement with France-based TOTAL S.A. (TOT - Free Report) . The Brazilian federal court has put a partial hold on the $2.2-billion deal signed in March. (52-0)
Statoil ASA’s (STO - Free Report) subsidiary Statoil Brasil Oleo e Gas Ltda has awarded rig contracts to Seadrill Ltd (SDRL - Free Report) for exploration drilling in the BM-S-8 license located in the Santos basin. The agreement comprises two contracts, wherein Seadrill Offshore AS will supply the drillship West Saturn, and Seadrill Serviços de Petroleo Limitada will offer services on board. As part of the license commitments of the exploration phase, the fixed contract scope consists of one exploration well and one drill stem test.
Offshore drilling contractor SeaDrill Limited (SDRL - Free Report) was recently awarded a contract by Statoil Brasil Óleo e Gas, a unit of integrated energy player Statoil ASA (STO - Free Report) , for SeaDrill’s drillship, West Saturn, in the Statoil operated BM-S-8 license in Brazil’s prolific Santos basin.
The ASX 200 built on Thursday’s impressive gains to open 9.2 points to the good at 5,746, defying predictions that it would in fact lose ground.
Statoil ASA (STO - Free Report) and Queiroz Galvao Exploracao e Producao (QGEP) have inked an agreement wherein the former will purchase QGEP’s 10% interest in the BM-S-8 license located in Brazil’s Santos basin. The additional 10% equity will enhance Statoil’s operated interest in the license to 76% from 66%. The transaction is valued at $379 million. BM-S-8 comprises a considerable part of the Carcará discovery including high-quality oil of about 30° API.