A poll published Saturday in Brazil gave a mild boost to the political survival prospects for President Dilma Rousseff, as she saw a slight bounce in her approval ratings, halting what has been an almost continuous slide for most of the year. The number of Brazilians who rated Rousseff's administration "bad" or "very bad" fell... Continue Reading →
Brazil Finance Minister Levy to Be Replaced by Barbosa
Brazil’s Planning Minister Nelson Barbosa will replace Joaquim Levy as finance minister, according to two people with knowledge of the decision. President Dilma Rousseff’s press office is expected to make an official statement later Friday, said the people, who asked not to be named because the decision isn’t yet public. Barbosa is considered less market-friendly and... Continue Reading →
Fitch reviews Petrobras’ rating
12/17/2015 Rio de Janeiro, December 17, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the risk rating agency Fitch reviewed Petrobras' rating from BBB- to BB+, with negative outlook. This review follows the change in the sovereign rating, as announced on 12/16/2015.
Brazil’s Levy tipped to leave government, replaced by Barbosa: sources
Brazilian Planning Minister Nelson Barbosa may replace Joaquim Levy as finance minister, three government sources told Reuters on Friday, as speculation grows about imminent changes to President Dilma Rousseff's economic team. Barbosa, who has kept a low profile in recent months, has the backing of several government insiders and advocates tempering an austerity drive on... Continue Reading →
OAS Creditors Agree to Restructuring Plan Including Invepar Sale
Brazilian construction company OAS SA won approval for its restructuring plan early Friday after agreeing to sell one of its most valuable assets in order to help pay creditors. The vote, which had been scheduled and postponed on several occasions since September, went forward after OAS secured a deal to sell its stake in airport... Continue Reading →
Brazil moves to speed corrupt firms access to state cash -sources
Brazilian President Dilma Rousseff plans to issue a decree on Friday to speed up a process allowing construction companies involved in a major corruption scandal to regain the right to receive government money, two sources told Reuters. More than 30 of the country's top construction and engineering companies, including Odebrecht SA, Queiroz Galvão, OAS,... Continue Reading →
Brazil court rulings help Rousseff fend off impeachment
Brazil's Supreme Court handed embattled President Dilma Rousseff two victories on Thursday in rulings that improve her chances of blocking an impeachment bid by opponents seeking to oust the unpopular leftist leader. The judges voted to give the Senate the authority to review the grounds for Rousseff's impeachment even if the lower house votes to... Continue Reading →
Mexico Sees $44 Billion in Investment for Deep Water Oil Fields
On the heels of Mexico’s most successful private oil auction, the country announced plans today for its most lucrative and ambitious sale of crude fields since opening the national industry to private participants. Mexico will auction 10 offshore fields for exploration and development next year in the deep waters of the Gulf of Mexico, estimating... Continue Reading →
Mexico Set to Be Big Winner From Brazil’s Second Junk Downgrade
Brazil’s misfortunes may just be Mexico’s blessing. On Wednesday, Fitch Ratings handed Brazil its second junk rating, which could force institutional investors whose bylaws prevent them from holding such securities to dump them. The decision sent the Brazilian real tumbling the most in emerging markets and spurred a selloff in its overseas debt. As investors... Continue Reading →
Brazil prosecutors charge 12 in SBM Offshore graft scheme
Brazilian prosecutors on Thursday charged 12 people with a bribery scheme involving Dutch firm SBM Offshore NV, the world's top leaser of oil production ships, and state oil firm Petroleo Brasileiro SA. Police said they had four arrest orders as part of the scheme, dubbed "Operation Black Blood," though two of them involved suspects already... Continue Reading →
Brazil Energy Insight 