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 →
Brazil’s Braskem enters talks with U.S. authorities in graft case
Mon Oct 3, 2016 | Reuters Oct 3 Brazil's Braskem SA, Latin America's largest petrochemical producer, said on Monday it had entered talks with the U.S. Department of Justice and the Securities and Exchange Commission regarding an internal graft probe started in 2015. Braskem said in a securities filing that it planned to begin a parallel... Continue Reading →
Five Triggers to Signal If Brazil’s World-Beating Rally Has Legs
Brazil’s Ibovespa wrapped up a third straight quarterly gain on Friday, capping a rally that makes it the world’s best-performing stock market this year. But for the gains to continue, many investors are saying they’ll need more than optimism and promises of a rebound. Speculation that President Michel Temer’s administration could swoop in and fix... Continue Reading →
Rousseff’s Workers’ Party Knocked in Brazil City Elections
The Workers’ Party of ousted President Dilma Rousseff suffered heavy losses in Brazil’s municipal elections on Sunday, bearing the brunt of voter dissatisfaction with an economic recession and a corruption scandal that have plagued Latin America’s largest nation. After ruling Brazil for 13 years, the leftist party known PT lost control of Sao Paulo, the... Continue Reading →
