Energy Update
With a formal impeachment of Brazil’s former president Dilma Rousseff of the Workers’ Party (PT) now expected at the end of August, talk has resurfaced of a change of command at Brazilian iron ore miner Vale.
(Thu, 18 Aug 2016) Crude oil production disruptions in Nigeria reached 750,000 barrels per day (b/d) in May 2016, the highest level since at least January 2009. The increased disruptions come as militants continue to focus attacks on oil and natural gas infrastructure in the West African region. Nigeria is a member of the Organization of the Petroleum Exporting Countries (OPEC) and was Africa's largest oil producer until Angola's oil production surpassed Nigeria's earlier this year.
MELBOURNE, Aug 18 (Reuters) - Australia's Origin Energy
suspended its final dividend in a bid to cut debt and trimmed
its guidance, after weak oil prices and spending on its
Australia Pacific LNG project nearly halved its underlying
annual profit.
SYDNEY, Aug 18 (Reuters) - Australia's Whitehaven Coal Ltd
posted a fiscal 2016 net profit of A$20.5 million
($15.69 million) on Thursday, beating analysts' forecasts.
SAO PAULO, Aug 17 (Reuters) - Brazil's federal auditing
court TCU ordered on Wednesday the seizure of about 2.1 billion
reais ($655 million) worth of assets from engineering firms
Odebrecht SA and OAS SA and some of their executives, to recoup
losses from contracts related to the country's biggest ever
corruption scandal.
Aug 17 (Reuters) - Bankrupt coal company Peabody Energy won
U.S. court approval on Wednesday for agreements with three
states to partially cover $1.14 billion in potential
environmental liabilities and for a bonus plan for its six top
executives.
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