Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe By Juan Pablo Spinetto 1:22 PM BRT March 5, 2015 (Bloomberg) -- Shouting and finger-pointing between lawmakers marked the opening of Congress’s latest probe of corruption allegations at Brazil’s state-controlled oil company. Lawmakers raised their voices and yelled accusations as they argued over the creation of... Continue Reading →
Petrobras New Board Member Confident on Audited Results
Petrobras New Board Member Confident on Audited Results By Sabrina Valle 12:41 PM BRT March 5, 2015 (Bloomberg) -- Petroleo Brasileiro SA is on track to quantify a graft-related writedown needed to release audited financial results and restore investor confidence, according to the most recent appointee to the offshore producer’s board. Luiz Navarro, a lawyer... Continue Reading →
Seadrill Braces for Two More Years of Rig Market Pain
Seadrill Braces for Two More Years of Rig Market Pain byMikael Holter 12:15 PM BRT March 4, 2015 Employees work on a Seadrill Ltd. semi-submersible drilling rig under construction in the dry dock at a shipyard, in Yeongam, South Korea. Photographer: SeongJoon Cho/Bloomberg (Bloomberg) -- Seadrill Ltd., the offshore oil driller controlled by billionaire... Continue Reading →
Brazil raises interest rates to 12.75% to curb inflation
5 March 2015 Last updated at 08:56 GMT BBC News Brazil raises interest rates to 12.75% to curb inflation Brazil's central bank has lifted interest rates to a six-year high of 12.75% to restrain inflation. Inflation in Brazil, Latin America's largest economy, was at a 12-year high in February of 7.4%. The government's target is 6.5%. Brazil's... Continue Reading →
Petrobras scandal threatens to scupper Brazil austerity drive
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TRlh2dtz Last updated: March 4, 2015 6:14 pm Petrobras scandal threatens to scupper Brazil austerity drive Joe Leahy in São Paulo Brazil’s currency slid to a 10-year low against the dollar on Wednesday as concerns grew that a corruption scandal at state-run oil group Petrobras engulfing the country’s political elite threatens to scupper the government’s austerity drive. The real fell... Continue Reading →
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes By Filipe Pacheco 10:07 AM BRT March 4, 2015 (Bloomberg) -- Brazil’s real led global currency declines as President Dilma Rousseff was rebuffed in the Senate over the unwinding of tax breaks, adding to concern that she will struggle to shore up the budget. The... Continue Reading →
Petrobras scandal set to snare politicians
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TPXRbZXg PETROBRAS SCANDAL SET TO SNARE POLITICIANS March 4, 2015 9:51 am ©Getty Joe Leahy in São Paulo In Brazil’s modernist Congress building this week, the talk among lawmakers has focused on one subject only — who is on “Janot’s list”. Rodrigo Janot, attorney-general, on Tuesday night sought Supreme Court approval to investigate 28 cases... Continue Reading →
Petrobras CEO Lost Job Over a $30 Billion Disagreement
Petrobras CEO Lost Job Over a $30 Billion Disagreement By Sabrina Valle Anna Edgerton 12:00 AM BRT March 4, 2015 Maria das Gracas Foster, former Chief Executive Officer of Petroleo Brasileiro SA (Petrobras). Photographer: Yasuyoshi Chiba/AFP/Getty Images (Bloomberg) -- As the kickback and money-laundering scandal engulfing state-run oil giant Petrobras escalated in late January,... Continue Reading →
Petrobras fall from grace roils wider Lat Am debt markets
http://www.ft.com/cms/s/0/9c00b9f6-c0e8-11e4-9949-00144feab7de.html#ixzz3TKPZthko Last updated: March 3, 2015 11:10 am Petrobras fall from grace roils wider Lat Am debt markets Vivianne Rodrigues in New York and Joe Leahy in São Paulo Moody’s decision last week to strip Brazil’s oil company Petrobras of its investment grade status and send it two notches into junk territory triggered a sharp sell-off in the country’s... Continue Reading →
Petrobras – Divestment Plan U$13.7 billion to 2016
Petrobras - Divestment Plan U$13.7 billion to 2016 Rio de Janeiro, March 2, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its Executive Board, convened on February 26, 2015, has approved the company’s two-year (2015/2016) divestment plan. Divestitures total US$ 13.7 billion, and include Exploration & Production assets in Brazil and abroad (30%), as... Continue Reading →
