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Brazilian public prosecutors pressed corruption charges against Chamber of Deputies chief Eduardo Cunha before the Supreme Court. Cunha is accused of having received $5 million in a scheme of kickbacks at state-owned oil company Petrobras, according to a statement by the prosecutor-general’s office. Cunha previously denied the charges. The formal accusations against Cunha weaken one... Continue Reading →
Petrobras - Clarification of News Item: Payment of fine for the winding up of investigations in the United States 08/19/2015 Rio de Janeiro, August 19, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby declares that, in relation to news published in the media concerning the payment of a fine to the U.S. authorities, there are... Continue Reading →
The Brazilian real’s volatility climbed to a one-week high as the unemployment rate increased more than forecast, damping prospects as the nation faces its longest recession since the 1930s. Moody’s Investors Service cited a lack of political consensus on attempts to repair government finances as well as a faltering economy when it cut Brazil to... Continue Reading →
As U.S. oil fell to a new six-year low below $41 a barrel on Wednesday, an increasing number of analysts and traders are saying prepare for crude dipping into the $30s, and soon. The move to a price last seen at the height of the financial crisis, in February 2009, could come amid a seasonal... Continue Reading →
A plunge in the Ibovespa from this year’s peak put the equity gauge on the brink of a bear market amid forecasts Latin America’s largest economy is headed toward the longest recession since the 1930s. The stock benchmark led world losses, extending its slump since May 5 to 20 percent, as lender Itau Unibanco Holding... Continue Reading →
Brazil is close to hitting its longest stretch ever without selling new bonds abroad. The Treasury hasn’t sold new notes in international markets since its $1 billion issue of 2025 bonds in September 2014 as a deepening recession and a widening political crisis drove Brazil’s credit rating to the cusp of junk. If the government... Continue Reading →
Petrobras - Clarification on News: Funding via Debentures 08/18/2015 Rio de Janeiro, August 18, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with the Official Letter No. 314/2015/CVM/SEP/GEA-1 requesting the following clarification: Official Letter No. 314/2015/CVM/SEP/GEA-1 “We refer to the news published this date in the Finance Section of the Valor Econômico newspaper, under the... Continue Reading →
Petrobras - Oil and Natural Gas Production in July 08/18/2015 Rio de Janeiro, August 18, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.796 million barrels of oil equivalent per day (boed) in July 2015, an increase of 1.8% compared to... Continue Reading →
Brazil’s real will strengthen and hover above 3 per U.S. dollar as the political crisis engulfing President Dilma Rousseff eases, according to Development, Industry and Trade Minister Armando Monteiro Neto. The real gained 0.6 percent to 3.4617 per U.S. dollar at 3:22 p.m. local time, paring its decline this year to 23 percent, the biggest... Continue Reading →
The Opinion Pages | EDITORIAL Brazil’s Rising Turbulence By THE EDITORIAL BOARD AUG. 17, 2015 Brazil is in tatters. The economy is in a deepening recession: Last Tuesday, Moody’s downgraded Brazil’s credit rating to just about junk. A massive corruption scandal involving the national oil company Petrobras has ensnared scores of politicians and businessmen. The legislature is in revolt.... Continue Reading →
Brazil Energy Insight 