The Brazilian government is considering reviving a financial transaction tax known as the CPMF to try to narrow a large fiscal gap in 2016, three leading newspapers reported on Thursday. A plan to recreate the CPMF is part of the budget proposal for 2016 that is being discussed by President Dilma Rousseff and her economic... Continue Reading →
UPDATE 2-Brazil near deal on firms hit by Petrobras probe
Brazil's government is working on a deal to allow construction companies implicated in a massive corruption scandal to resume doing business with state-run oil company Petrobras in exchange for paying fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be identified because negotiations are not... Continue Reading →
Petrobras fuel tank explodes in Brazil, killing two
A heating unit at a Petrobras depot in Brazil used to treat fuel for ocean-going ships exploded on Wednesday, killing two workers, the state-run oil company said in a statement. The blast and resulting fire broke out about 10 a.m. (1300 GMT) while workers were doing planned maintenance on the heating unit, said the press... Continue Reading →
Cameron Purchase Hails More Deals: Real M&A
Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. The world’s biggest oilfield contractor agreed on Wednesday to buy pump-and-valve maker Cameron for about $66.36 a share in cash and stock. It’s the second-largest oil and gas services deal on record after No. 2 Halliburton Co. agreed to buy No. 3 Baker Hughes... Continue Reading →
These Emerging Market Companies Are Being Stifled by $23 Billion Worth of Debt
A $23 billion pile of debt is stifling emerging-market companies already strained by the tumble in commodity prices to 16-year lows and weaker currencies. The bonds in U.S. dollars, which come due before the end of 2016, have become more expensive to roll over or repay after the selloff triggered by China’s yuan devaluation this... Continue Reading →
UPDATE 1-Brazil near deal on firms hit by Petrobras probe
Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be named because negotiations are... Continue Reading →
Brazil judge says president’s ex-chief of staff may have been bribed
A federal judge in Brazil overseeing a sweeping corruption investigation said on Tuesday there were signs that President Dilma Rousseff's former chief of staff had received bribes. Judge Sergio Moro asked the Supreme Court to authorize an investigation into whether a graft case involving Brazil's planning ministry may have benefited Gleisi Hoffmann, now a senator... Continue Reading →
Brazil Court Delays Decision on Rousseff Campaign Funding
Brazil’s electoral court delayed a decision on whether to open hearings into allegations President Dilma Rousseff illegally financed her re-election campaign, charges that could provide grounds for her removal from office. Five of the seven judges on the court, known as the TSE, said they were in favor of opening hearings, and one voted against.... Continue Reading →
Brazil Real Volatility at Four-Month High on Political Outlook
Volatility in Brazil’s real climbed to a four-month high as domestic political turmoil and a global selloff in emerging-market assets whipsawed traders. The currency reversed earlier gains and fell to a 12-year low. While data released Wednesday showed a bigger-than-forecast increase in manufacturing last month, a majority of judges on an electoral court voted to... Continue Reading →
Petrobras Taps Brazil Bond Market as Dollar Borrowing Costs Soar
Petroleo Brasileiro SA is seeking refuge in Brazil’s domestic bond market as overseas borrowing costs surge amid a plunge in the local currency has exposed a mismatch between its real-based revenues and dollar debt payments. The world’s most-indebted oil producer said it’s planning to sell 3 billion reais ($830 million) in local bonds. The move... Continue Reading →
Brazil Energy Insight 