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Brazil’s opposition leaders this week are taking the most decisive steps so far to try and remove President Dilma Rousseff from office amid growing discontent over her handling of a tanking economy. Lawmakers this week for the first time formally discussed the procedures for impeachment on the floor of the lower house, asking the head... Continue Reading →
Petrobras - Resignation of Petrobras Distribuidora CEO Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the CEO of Petrobras Distribuidora (BR), Mr. José Lima de Andrade Neto, has resigned today for health reasons. The CFO of Petrobras Distribuidora, Mr. Carlos Alberto Tessarollo, who was already replacing Mr. Lima during... Continue Reading →
An investigation into Latin America’s largest construction group is steering prosecutors to a transnational money laundering scheme allegedly conducted through Swiss branches of banks including HSBC Holdings Plc, Royal Bank of Canada and Deutsche Bank AG. Bernardo Freiburghaus, 47, a Brazilian-Swiss dual citizen, is accused by a judge in Brazil of setting up a money... Continue Reading →
Petrobras - Oil and Natural Gas Production in August 09/16/2015 Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.88 million barrels of oil equivalent per day (boed) in August 2015, an increase of 3.1% compared to... Continue Reading →
Petrobras - Clarification on News: Unprecedented expense cuts Rio de Janeiro, September 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE “We request that you provide clarification, by 9:00 a.m. on September 15, 2015, of the content of the article... Continue Reading →
Petrobras - Clarification on News: Rental of Drilling Rigs – Further Explanation 09/15/2015 Rio de Janeiro, September 15, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 354/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 354/2015/CVM/SEP/GEA-1 “We report hereby to the to the above Official Letter, we request that you verify about... Continue Reading →
Petrobras Oil Output May Face Interruptions If Workers Strike Oil production in Brazil may be interrupted if Petroleo Brasileiro SA workers decide to strike for an extended period, said Deyvid Bacelar, the company’s board member representing workers. Workers may decide whether to go on strike as soon as Friday, Bacelar, who is also an oil union... Continue Reading →
Strong rumors from reliable sources point to possible final resignation of Murilo Ferreira as Chairman of Petrobras. The latest downgrade by S&P to junk level and infighting at the Petrobras Board of Directors might be the real reasons for the leave of absence. We are monitoring the situation closely.
Tue Sep 15, 2015 10:56am EDT Reuters Brazil's fiscal plan is a positive development, says Moody's RIO DE JANEIRO, SEPT 15 Brazil's recently-announced austerity measures are a "positive development," a senior analyst with Moody's Investors Service said on Tuesday in a vote of confidence to President Dilma Rousseff's efforts to plug a budget deficit in... Continue Reading →
Brazil's state-run Petroleo Brasileiro SA is slowing down a planned sale of assets and turning its attention to cost cutting to trim its massive debt, a senior company source told Reuters on Monday. The change in strategy by Petrobras, as the company is known, means that the plan to sell up to 25 percent of... Continue Reading →
Brazil Energy Insight 