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Petrobras raises Brazil gasoline price 4pc, diesel 8pc RIO DE JANEIRO: Brazil's state-run oil company, Petroleo Brasileiro SA, said on Friday it will raise the wholesale price of gasoline by 4 percent and diesel by 8 percent to cut losses and bring domestic fuel costs closer to international levels.The adjustment takes effect at 00:00 (0200 GMT) on Nov. 30 and applies to the amount paid by distributors before taxes. Those distributors are free to decide how much of the increase they will pass on to consumers at the fuel pump. The government expects the increase to add about 3 percent to retail pump prices.The increase is the first since Petrobras, as the company is known, raised the diesel price by 5 percent in March and gasoline by 6.6 percent in January.The increase, Petrobras said, is part of a new fuel-pricing policy, approved on Friday by the Petrobras board. The policy seeks "convergence" with world fuel prices. The policy ...

Petrobras drives Bovespa up, Mexico gains for 4th day: emerging markets RIO DE JANEIRO: Brazil's benchmark stock index gained about 1 percent on Friday as shares of state-run oil company Petrobras jumped on expectations of an imminent fuel price increase, while Mexican stocks climbed for a fourth day on reform optimism.Preferred shares of Petroleo Brasileiro SA rose 3.7 percent to 19.36 reais while its ordinary shares gained 5.5 percent to 18.73 reais as the company board met in Sao Paulo, raising bets that an increase in ...
Brazil auctions shale, natural gas blocks RIO DE JANEIRO: Brazil awarded 72 onshore natural gas and shale gas exploration blocks Thursday in a controversial auction marked by complaints from environmentalists about a lack of regulation.The National Petroleum Agency, or ANP, said in a statement that the auction generated $72 million in revenue, awarding 72 of the 240 concessions on offer.Forty-nine blocks were snatched by state-run oil giant Petrobras either alone or as part of a consortium.An ANP spokeswoman said four of ...
US oil prices tumble on higher inventories NEW YORK: US oil prices tumbled Wednesday to the lowest level in nearly six months after a weekly inventory report showed a surprisingly large increase in supplies.US benchmark West Texas Intermediate for January delivery fell $1.38 to $92.30 a barrel on the New York Mercantile Exchange, the lowest closing price since May 31. European benchmark Brent oil for January delivery gained 43 cents to reach $111.31 a barrel.The drop in WTI came after the US ...
Chevron alleges Ecuador fraud in oil pollution case NEW YORK: Chevron claimed Tuesday that corrupt Ecuadoran plaintiffs mounted an elaborate fraud to win a multi-billion-dollar case against it for polluting the Amazonian rainforest, in arguments before a US court. "It was a scheme so audacious, so bold it would make a Mafia boss blush," argued Randy Mastro, a lawyer for the US oil giant. "But Chevron didn't give in and that's why Chevron is here to get justice."Chevron has asked US Judge Lewis ...
Oil edges higher on Iran export caps, US data NEW YORK: Brent crude oil edged higher on Tuesday, as investors concluded that a deal between Iran and world powers would bring no immediate increase in crude supplies and Libyan oil workers went on strike in Benghazi. "My sense is that the promise of Iranian oil doesn't really offset a lack of oil from Libya," said Phil Flynn, an energy analyst with the Price Futures Group in Chicago. Brent outperformed US ...
US natgas futures up for 3rd day, front hits month high NEW YORK: US natural gas futures held gains for a third straight day on Friday, with the front-month contract posting a fresh one-month high in the face of forecasts for cold weather late this week and next week that should lift demand for heating. "There are some conflicting weather forecasts, but in the short term it's going to be very cold, and that's been pushing up prices," a Pennsylvania-based trader said, adding Thursday's ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln