Critics say former president faced ‘impeachment with impunity’ by: Joe Leahy, São Paulo, FT Just when Brazil was looking to put the trauma of last week`s impeachment of former president Dilma Rousseff behind it, the issue is threatening to make a comeback. An activist group has petitioned the senate to impeach the supreme court judge who presided... Continue Reading →
Brazil refinery mishaps hobble 10 percent of Brazil fuel output
Serial failures at a Petrobras refinery have hobbled about a tenth of Brazil's crude-processing capacity, company and union officials said on Monday, raising safety and efficiency concerns at the financially troubled state-led oil company. An Aug. 31 power outage and fire, followed by a sulfur tank collapse on Monday, forced a complete shutdown and then... Continue Reading →
Brookfield-led group to buy $5.2 billion Petrobras pipeline unit: source
An aerial view of Petrobras' Presidente Bernardes Refinery unit in Cubatao April 2, 2015. BRAZIL/Paulo Whitaker By Tatiana Bautzer | SAO PAULO Brazil's state-run oil company Petroleo Brasileiro SA (PETR4.SA) (PBR.N) agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc (BAMa.TO)... Continue Reading →
Petrobras – Clarification on the News Regarding the Sale of Liquigás
Rio de Janeiro, September 5, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter 2985/2016-SAE/GAE 2, which requests the following clarifications: Official Letter No. 2985/2016-SAE/GAE 2 “Dear Sirs, A news article published by the newspaper O Estado de São Paulo on September 2, 2016 states, among other information, that: 1. Petrobras... Continue Reading →
BRIEF-Brazil’s Petrobras says Dodge & Cox sells shares
Mon Sep 5, 2016 State-led oil company Petroleo Brasileiro SA : * Petrobras, as the company is known, said in a filing on Monday that investment fund Dodge & Cox reduced to less than 5 pct its control of equivalent preferred shares in the company * With the sale of Petrobras American Depository Receipts (ADRs)... Continue Reading →
Brazil bans third builder from government work for Petrobras bribes
Brazil on Monday banned IESA Oil & Gas from government work for paying bribes, the third construction and engineering company barred in the massive graft and political kickbacks scandal involving contracts with state oil company Petrobras. The Ministry of Transparency, Brazil's primary anti-corruption agency, said IESA would not be able to bid for new government... Continue Reading →
Fitch Downgrades Rio Oil Finance Trust Notes to ‘B’; Outlook Remains Negative
September 02, 2016 CHICAGO & SAO PAULO--(BUSINESS WIRE)--Fitch Ratings has downgraded the series 2014 notes issued by Rio Oil Finance Trust as follows: --USD2 billion series 2014-1 notes to 'B' from 'BB-'; --BRL 2.4 billion series 2014-2 special indebtedness to 'BB+ sf (bra)' from 'Asf (bra)'; --USD1.1 billion series 2014-3 notes to 'B' from... Continue Reading →
Camargo Correa Construction company is rumored to be for sale
The Camargo Correa Construction company is rumored to be for sale and China’s giant CCCC China Communications Construction Company is a likely candidate. French and Spanish companies are also rumored to be in the list of suitors. Three billionaire sisters are the controlling shareholders of multinational construction and cement conglomerate Camargo Correa. The conglomerate was... Continue Reading →
Brazil police launch operation into fraud at state pension funds
Reuters Brazil's federal police launched an operation on Monday to investigate fraud at pension funds of major state-run companies, carrying out seven arrest warrants, over a hundred search warrants and freezing assets worth 8 billion reais ($2.46 billion), police said in a statement. The pension funds under investigation are those of state-run banks Caixa [CEF.UL]... Continue Reading →
Pemex Slow to Lure Oil Majors to Join Its Big Gulf Venture
Pemex expected oil majors to line up for a historic chance to help it tap the giant Perdido reserves in ultra-deep waters of the Gulf of Mexico. So far sign-ups for an auction have only trickled in. Days before the Sept. 5 deadline to begin the bidding process to join Petroleos Mexicanos’s first oil production joint venture... Continue Reading →
Brazil Energy Insight 