European oil service companies cite issues in Brazil - Petrobras' (PBR) negotiating tactics and...

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

European oil service companies cite issues in Brazil - Petrobras' (PBR) negotiating tactics and government demands - for contributing to a spate of earnings disappointments. The trend continues as Subsea 7 (SUBCY.PK) warns it will miss its 2013 profit forecast due to cost $250M-$300M in overruns at its Guará-Lula project offshore Brazil.