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Brazilian prosecutor Carlos Lima. Photographer: Evaristo Sa/AFP via Getty Images Two Brazilian prosecutors probing a scandal at Petroleo Brazileiro SA that rocked the nation’s political establishment say it would be hard to consider the company a perpetrator in the multibillion-dollar kickback scheme. Carlos Lima and Deltan Dallagnol lead a group of nine federal prosecutors in... Continue Reading →
President Rousseff unveiled large infrastructure plan to stimulate lagging economy. Read More
The favorable exchange rate and less government intervention might , just might, attract the private investors, both local and foreign. Read More
Colombian oil company in trouble from shareholders Pacific Rubiales Energy Corp.’s share price shows its takeover has the most risk of failing among major oil deals. A member of the bidding group signaled that’s because it doesn’t plan to waive a condition that could block the bid. The Colombian driller’s largest shareholder, an investor group... Continue Reading →
Brazil's Petrobras bet big and won this week after printing a US$2.5bn Century bond - the largest-ever trade with this tenor and the oil company's first bond sale since a corruption scandal locked it out of the capital markets last year. Few thought the company, still reeling from a high-profile investigation into kick-backs, was prepared... Continue Reading →
Brazil's oil regulating body, Agencia Nacional de Petroleo - ANP, is debating changes in the Local Content Law to be in place by the time the next oil license auction in October. Read More
Prumo and BG Brasil sign contract for oil transshipment at Açu Port 6/3/2015 Scheduled for August 2016, oil handling may reach up to 200.000 bbl/day Prumo Logística and BG Brasil signed today (June 3nd 2015) a contract for oil transshipment services at Açu Port, in São João da Barra (RJ). The agreement means BG... Continue Reading →
Brazil's Finance Minister Joaquim Levy has been filling in the shoes of President Dilma Roussef in the crusade with the law makers to pass the badly needed austerity program. The Economist has been writing about the ups and downs of the Brazilian Economy since the economy took off in 2010 and it floundered in 2014.... Continue Reading →
North Sea oil Offshore fog Bloated costs and falling profits threaten the future of North Sea oil May 30th 2015 Try to keep it pumping WHEN the North Sea oil- and gasfields were booming, inefficiencies mushroomed. Now, times are tough—and it may be too late for belt-tightening. The offshore industry, particularly the British bit of... Continue Reading →
Brazil’s Development Bank Moves to Open Books Amid Graft Scandal June 3, 2015 — 3:56 PM BRT BNDES President Luciano Coutinho. Photographer: Marcos Issa/Bloomberg Brazil’s state development bank took a step toward transparency amid criticism of lending to countries like Cuba, big campaign donors and contractors involved in a graft scandal. BNDES, the Rio... Continue Reading →
Brazil Energy Insight 