A top judge in Brazil ruled on Friday that Luiz Inacio Lula da Silva should be stripped of a ministerial role so he can be investigated for graft, minutes after the ex-president rallied tens of thousands of supporters behind embattled President Dilma Rousseff. In a move likely to inflame tensions between the judiciary and Brazil's... Continue Reading →
Brazil’s Rousseff knew about bribery scheme, senator says
Brazil's President Dilma Rousseff shows a document confirming former president Luiz Inacio Lula da Silva's appointment as chief of staff, at Planalto palace in Brasilia, Brazil, March 17, 2016. REUTERS/ADRIANO MACHADO A senator accused of involvement in Brazil's biggest corruption scandal said President Dilma Rousseff and her predecessor Lula were both aware of it and... Continue Reading →
Rousseff supporters rally to counter anti-government protests
Supporters of Brazil's ruling Workers' Party joined street rallies on Friday to back the beleaguered government of President Dilma Rousseff, while her opponents in Congress started the clock on impeachment proceedings. Brazil's political crisis also reached the Supreme Court, which has received a dozen motions to suspend this week's appointment of former President Luiz Inacio... Continue Reading →
Impeachment session starts in Brazil, police disperse protest
In Brasilia, where thousands of demonstrators have demanded Rousseff's ouster over the last two days, police told protesters to stay away from the Congress building where a pro-government demonstration was planned for 5 p.m local time (2000 GMT). In Congress' lower house, opposition parties sped up the impeachment of Rousseff by holding a session on... Continue Reading →
Exclusive: Petrobras mulls giving up control of fuel distribution unit
A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/UESLEI MARCELINO Brazil's state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) is considering selling control of fuel distribution unit BR Distribuidora SA after bidders failed to emerge for a minority stake, two sources with direct knowledge of the plans... Continue Reading →
Petrobras Said to Weigh Fields Sale Valued Up to $2 Billion
Petroleo Brasileiro SA is marketing offshore oil and natural gas fields worth as much as $2 billion as part of its plan to sell assets and pay down debt, said two people familiar with the matter. Three fields -- Bauna, Golfinho and Tartaruga -- are for sale, said one person, who asked not to be... Continue Reading →
Maersk Drilling CEO Ready to Buy Used Rigs In Pricing Rejig
Maersk Drilling is looking into buying used oil rigs to take advantage of low prices and the financial clout of its parent, A.P. Moeller-Maersk A/S. Claus Hemmingsen, the division’s chief executive officer, says the market collapse has created new opportunities and means Maersk Drilling may shift away from a pattern over the past two decades... Continue Reading →
Judge’s bar on Lula puts Brazil on edge of constitutional crisis
http://www.ft.com/cms/s/0/62207c4a-ec65-11e5-9fca-fb0f946fd1f0.html#ixzz43CKvOUsZ March 17, 2016 5:48 pm Judge’s bar on Lula puts Brazil on edge of constitutional crisis Samantha Pearson in São Paulo ©AFP Brazil was teetering on the brink of a constitutional crisis on Thursday after a judge blocked President Dilma Rousseff’s appointment of her predecessor, Luiz Inácio Lula da Silva, to her cabinet, prompting... Continue Reading →
Swiss to return $70 million more to Brazil in Petrobras investigation
The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Swiss authorities will return $70 million more from funds frozen during investigations into allegations of corruption at Brazilian state oil group Petrobras (PETR4.SA), Attorney General Michael Lauber's office said on Thursday. The money - on top... Continue Reading →
Brazil’s Foreign Investors See a New President as Last Best Hope
The political storm descending on Brazil right now is a boon in the eye of foreign investors who see a change in government as the best way to pull the country out of its doldrums. Stocks and the real led global gains Thursday after President Dilma Rousseff’s naming of Luiz Inacio Lula da Silva, her predecessor... Continue Reading →
Brazil Energy Insight 