Brazil's top court has approved a request by prosecutors to split the investigation of dozens of politicians implicated in the sprawling Petrobras corruption scandal by grouping them by the main parties that prosecutors allege received kickbacks. The separation is bad news for President Michel Temer because it will focus the investigation directly on politicians of... Continue Reading →
Braskem ex-CEO eyes plea bargain in Brazil corruption probe
Oct 6/Reuters - A former chief executive of Braskem SA is working with investigators in Brazil to establish the petrochemical company's responsibility in a political graft scandal involving its shareholders, according to a newspaper report on Thursday. Brazilian daily Valor Economico reported, without saying how it obtained the information, that former Chief Executive Carlos Fadigas... Continue Reading →
Venezuela Is Pawning Pieces of Iconic American Brand Citgo to Survive
The red triangle is just about everywhere, from the massive sign looming over Fenway Park’s Green Monster to the filling stations on seemingly every other corner in the eastern half of the U.S. to the heating oil donated to the poor in the winter. Few foreign companies have the kind of footprint or brand recognition... Continue Reading →
Brazil police charge Lula in case linked to Odebrecht in Angola
Wed Oct 5, 2016 | Reuters Brazil's former President Luiz Inacio Lula da Silva reacts after voting during municipal elections in Sao Bernardo do Campo, Brazil, October 2, 2016. REUTERS/Paulo Whitaker Brazil's federal police have presented formal charges against former President Luiz Inacio Lula da Silva in a case involving contracts obtained by building and... Continue Reading →
Odebrecht nears $2 bln plea deal in Brazil graft case
Oct 5, Reuters - Brazilian industrial conglomerate Odebrecht is on the verge of reaching a plea deal that includes a fine of more than 7 billion reais ($2.2 billion) for its role in the country's biggest-ever political graft scandal, a newspaper reported on Wednesday. Brazilian business daily Valor Economico reported, without saying how it obtained... Continue Reading →
Brazil in Fright as Moro’s Untouchables Close In on Iconic Lula
Former Brazilian President Luiz Inacio da Silva left office in 2010 so beloved -- U.S. President Barack Obama called him "the man" -- and with approval ratings so historically high that the trappings of tributes filled 10 shipping containers. There was wine from French ex-heads of state Jacques Chirac and Nicolas Sarkozy, an oxcart from... Continue Reading →
Petrobras commences new Bid process for the Libra Pilot Project FPSO
Rio de Janeiro, October 04, 2016 - Petróleo Brasileiro S.A. – Petrobras, operator of Libra consortium, confirms that it has commenced a new bid process for the Libra Pilot Project FPSO. The company confirms the cancellation of the previous bid process, which began on August 12th, 2015, because it resulted in a proposal with an... Continue Reading →
Petrobras, Statoil extend partnership for old wells
Petróleo Brasileiro SA and Norway's Statoil ASA are expanding an existing partnership to help the Brazilian state-controlled company arrest declining production at aging wells in the offshore Campos Basin, two people with direct knowledge of the plan said. In late August, Petrobras and Statoil signed a memorandum of understanding that has since evolved to targeting... Continue Reading →
Brazil to Boost Funding for Solar, Cut Loans for Coal, Gas
Brazil’s development bank, the world’s biggest backer of renewable energy, will focus on clean energy while cutting support for fossil fuels as the country’s economic slump limits its resources. The bank will boost its participation in financing for solar energy, maintain incentives for wind and reduce support for big hydroelectric plants and thermoelectric plants fueled... Continue Reading →
Brazil’s new parties fail to capitalize on anti-corruption mood
Brazil's municipal elections showed that new parties have failed to capitalize on voters' disenchantment with a corruption-tainted political establishment, making it unlikely an outsider will win the 2018 presidential poll. The political movements nurtured by the anti-corruption street protests of 2013 and 2015, despite a massive presence on social media, won just a handful of... Continue Reading →
