Reason for a clash between the Brazilian suppliers industry and oil companies, local content should be excluded from the next auction to be conducted by the National Petroleum, Natural Gas and Biofuels Agency (ANP) - the fourth round of marginal areas, scheduled for 2017, date still not defined. The agency awaits the government's position until... Continue Reading →
Odebrecht to sign $2 billion leniency deal in Brazil graft probe: source
Brazilian engineering conglomerate Odebrecht SA has agreed to plea bargains and a massive leniency deal under which it would pay around 7 billion reais ($2.1 billion) in fines for its role in Brazil's biggest corruption scandal, a person familiar with the matter said. The deals sent shockwaves through Brazil's political establishment as they could incriminate... Continue Reading →
How to Boost the Global Economy? Higher Oil Prices, Goldman Says
Forget the stagflation of the 1970s. Higher oil prices would be a boon for the global economy, according to Goldman Sachs Group Inc. Pricey crude means economies such as Saudi Arabia take in more money than they can spend, which financial markets help distribute through the rest of the world, boosting asset values and consumer... Continue Reading →
Brazil’s federal, state governments reach accord to balance accounts
Brazil's federal government reached a deal on Tuesday to help cash-strapped states with their fiscal woes in exchange for support from governors on deeper structural reforms including pension reform and the capping of public employee salaries. Finance Minister Henrique Meirelles told reporters after meeting President Michel Temer and governors in Brasilia that federal and state... Continue Reading →
Brazil’s Odebrecht to sign leniency agreement this week with $2.1 billion fine
Brazilian engineering group Odebrecht SA is close to signing a leniency agreement with prosecutors in which it will agree to pay around 7 billion reais ($2.1 billion) in fines, the newspaper Valor Economico reported on Wednesday. The agreement would allow the group's companies to bid for new government contracts. The prosecutors' office declined to comment.... Continue Reading →
Peru considers rescinding Odebrecht’s pipeline contract: source
Peru is considering rescinding Odebrecht SA's $5 billion natural gas pipeline contract after the Brazilian company's attempt to sell its majority stake in the project got snagged on corruption concerns, a government source said Friday. As a condition to buying Odebrecht's ODBES.UL stake, a Sempra Energy-led consortium asked to remove a clause in the contract... Continue Reading →
Spain arrests man suspected of being ‘mastermind’ in Petrobras case
Spanish police have arrested a man suspected of being a "financial mastermind" in a corruption network at Brazil's semi-public oil company Petrobras, the Interior Ministry said on Tuesday. The man, 43, is of dual Brazilian and Spanish nationality and had been on the run from Brazil since April, the ministry said, traveling first to the... Continue Reading →
Petrobras – Approval of the signing of the contract for the sale of Liquigás
Rio de Janeiro, November 17, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved, at a meeting held today, the signing of the contract for the sale of Liquigás Distribuidora S.A. to Companhia Ultragaz S.A., a subsidiary of Ultrapar Participações S.A. Liquigás is a wholly-owned subsidiary of Petrobras and... Continue Reading →
Brazil’s Andrade Gutierrez, CADE Cut Deal Over Belo Monte Dam Probe
Antitrust body said ‘leniency agreement’ signed in September By ROGERIO JELMAYER and LUCIANA MAGALHAES Nov. 17, 2016 3:02 p.m. ET SÃO PAULO—Brazil’s antitrust body said it signed a ‘leniency agreement’ in September with construction company Andrade Gutierrez SA and kept it confidential during the agency’s preliminary investigations into the company’s activities. The agreement was signed... Continue Reading →
Brazil arrests former Rio governor in corruption probe: police
Brazilian federal police arrested the former governor of Rio de Janeiro state on Thursday as part of an investigation into the embezzlement of 220 million reais ($64 million) in public work projects, a police spokesman said. Sergio Cabral is the highest-profile politician to be arrested in recent months amid a massive anti-corruption investigation that... Continue Reading →
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