http://www.ft.com/cms/s/0/92ab80e4-b827-11e4-b6a5-00144feab7de.html#ixzz3SDwCBCQu February 19, 2015 4:37 pm Opec has ceded to the US its power over oil price Alan Greenspan Shale breakthrough will be a more effective market stabiliser, writes Alan Greenspan Normal diplomacy probably could not have achieved the geopolitical outcomes that have been produced in the past year by America’s shale oil revolution. Oil prices... Continue Reading →
Contributing editor’s comments
Multinationals named, so far, in the Petrobras corruption investigation It is not just the local Brazilian suppliers that are involved in the graft investigations at Petobras but the following multinationals have been named and will be investigated by their governments, the SEC and the US Justice Dept.: Dutch SMB, Swede Skanska, Korean Samsung Heavy Industries,... Continue Reading →
Rolls-Royce vows to co-operate with Petrobras investigation
http://www.ft.com/cms/s/0/281a3d6a-b601-11e4-a577-00144feab7de.html#ixzz3RwXU7DCj February 16, 2015 6:43 pm Rolls-Royce vows to co-operate with Petrobras investigation Peggy Hollinger, Industry Editor Rolls-Royce has said it will co-operate with Brazilian authorities if they press ahead with an investigation into allegations that it paid bribes to win a contract from Petrobras, the state-owned oil company at the heart of a spiralling corruption scandal. The British engineering company... Continue Reading →
Rolls-Royce accused in Petrobras scandal
http://www.ft.com/cms/s/0/96152e80-b3ca-11e4-a6c1-00144feab7de.html#ixzz3RuUUbnXJ February 15, 2015 10:00 pm Rolls-Royce accused in Petrobras scandal Samantha Pearson and Joe Leahy in São Paulo ©AFP Rolls-Royce has been accused of involvement in a multibillion-dollar bribery and kickback scheme at Petrobras, Brazil’s state-controlled oil producer, as more foreign companies are dragged into the country’s largest corruption scandal. The British engineering company, which makes gas... Continue Reading →
The $100m man’s guide to Brazilian graft
. http://www.ft.com/cms/s/0/d80ab9fc-b34f-11e4-a45f-00144feab7de.html#ixzz3Ros28J5X February 15, 2015 12:34 pm The $100m man’s guide to Brazilian graft Joe Leahy in São Paulo ©AFP Workers demand the payment of wages in arrears from Petrobras in Rio de Janeiro AFP/Getty Images One October night in 2011 in Milan, Italy, a group of four Brazilian businessmen linked to Petrobras, Brazil’s state-owned oil operator,... Continue Reading →
UPDATE 1-Seadrill gives up on $1.1 bln of Petrobras orders
UPDATE 1-Seadrill gives up on $1.1 bln of Petrobras orders Friday Feb 13 (Reuters) - Seadrill, the world's third-biggest offshore driller, cut $1.1 billion worth of Petrobras orders from its backlog due to the Brazilian firm's troubles, sending its shares 13 percent lower. Seadrill, which had an order backlog of $20 billion at the end... Continue Reading →
Petrobras Payoffs Hit Brazil Party in Way Mensalao Never Did
Petrobras Payoffs Hit Brazil Party in Way Mensalao Never Did By David BillerMario Sergio Lima 1:01 AM BRST February 12, 2015 Brazilian President Dilma Rousseff’s approval rating in January fell to its lowest level on record, 23 percent, as more than three-quarters of people believe she was aware of billions in graft at Petrobras... Continue Reading →
Whose oil in Brazil?/One of the many casualties of the Petrobras scandal is a misguided industrial policy
Bello Whose oil in Brazil? One of the many casualties of the Petrobras scandal is a misguided industrial policy Feb 14th 2015 | From the print edition The Economist THE slogan under which Petrobras, Brazil’s national oil company, was founded in 1953 was o petróleo é nosso (“the oil is ours”). Ours, not the foreigners’, was the implication. That, too, is... Continue Reading →
Petrobras Said to Seek SEC Help in Breaking Accounting Deadlock
Petrobras Said to Seek SEC Help in Breaking Accounting Deadlock By Peter Millard Sabrina Valle 12:22 PM BRST February 13, 2015 (Bloomberg) -- After months of soul searching over how to book corruption costs, Petroleo Brasileiro SA is turning to the U.S. for a solution, said two people familiar with the matter. Petrobras plans... Continue Reading →
HSBC Pitches Petrobras-Tainted Oil Rig Bonds Nobody Wants
HSBC Pitches Petrobras-Tainted Oil Rig Bonds Nobody Wants By Paula Sambo 10:00 PM BRST February 12, 2015 (Bloomberg) -- In the months since Brazil’s largest bribery scandal broke, bond investors have fled companies tied to the alleged kickbacks. They’ve been far too hasty, according to HSBC Holdings Plc and Mizuho Securities USA. Odebrecht Offshore Drilling... Continue Reading →
