Prosecutor Frederico Paiva recalled how badly he was sweating, his shirt soaked even though the air conditioner in the chambers was going full bore. He and his partner, Marlon Cajado, were pleading with a judge to extend wiretaps that had helped the duo uncover a scheme they determined had robbed Brazil of as much as... Continue Reading →

As oil majors are considering exiting Norway, the government is warning them that they could still be on the hook for billion of dollars in costs to close down dried up oilfields if they aren’t careful to whom they sell. For each future transaction, Norway’s Petroleum and Energy Ministry will assess whether to make companies... Continue Reading →

  The Minister of Mines and Energy, Fernando Coelho Filho, told the Folha newspaper that the government will "soften" the local content rules in the oil sector and should extend the tax exemption program for the purchase of petroleum equipment, called Repetro, for more 20 years. According to him, the measures, which are due to... Continue Reading →

  President lists economic achievements as currency plunges after Donald Trump victory   by: Joe Leahy in São Paulo/FT Brazil’s president Michel Temer has moved to shore up confidence in his reform programme after the country’s currency was one of the worst hit in an emerging market sell-off sparked by Donald Trump’s US election victory. The Temer government on Saturday... Continue Reading →

Nov 14 The Brazilian real slumped for a fourth straight day on Thursday, as concern over U.S. President-elect Donald Trump and higher U.S. yields drove the central bank to intervene. Rates paid on U.S. Treasury debt surged on fears that Trump's pledges of heavy infrastructure spending and tax cuts could boost inflation and force the... Continue Reading →