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The gloom surrounding the Olympic Games getting underway Friday in Rio de Janeiro is nowhere to be seen in the country’s financial markets. The problems dogging Latin America’s largest economy are on full display as athletes from over 200 countries make their way to the games. Sailors are turning up their noses at the dirty... Continue Reading →
A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California October 9, 2013. REUTERS/MIKE BLAKE Ultrapar Participações SA (UGPA3.SA), a large player in energy and infrastructure in Brazil, said on Thursday it will partner with Chevron Corp (CVX.N) to sell lubricants, additives and coolants in the Brazilian market.... Continue Reading →
Aug 4 Othon Luiz Pinheiro da Silva, the former chief executive of Brazil's nuclear power company Eletronuclear, was sentenced to serve 43 years in prison by a Rio de Janeiro judge late on Wednesday, the Valor Economico newspaper reported. Court and government officials in Rio were on local holiday Thursday in celebration of the Olympic... Continue Reading →
Brazil’s Senate impeachment committee recommended putting suspended President Dilma Rousseff on trial for illegal financial transactions, paving the way for her permanent ouster within a month. A report by Senator Antonio Anastasia accused Rousseff of taking credits without congressional authorization and through state banks, violating the Constitution. The report was approved by 14 senators in favor... Continue Reading →
Transocean Ltd.’s profit dwindled in the second quarter as the world’s largest offshore driller struggles to win contracts and keep rigs busy during an oil industry downturn. Net income fell to $77 million, or 21 cents a share, from $342 million, or 93 cents, a year earlier, the company based in Vernier, Switzterland, said Wednesday in... Continue Reading →
Brazil's suspended President Dilma Rousseff rides her bicycle near the Alvorada Palace in Brasilia, Brazil, August 3, 2016. REUTERS/ADRIANO MACHADO A Senate report found on Tuesday that Brazil's suspended President Dilma Rousseff violated the constitution by manipulating government accounts, moving her drawn-out impeachment trial closer to deciding her fate. The report is expected to be... Continue Reading →
Keppel Corp.’s Brazil problems just keep growing. The world’s largest builder of offshore oil rigs has seen investments plummet in one of its most important markets. A major client, Sete Brasil Participacoes, has entered bankruptcy protection. Then last month a former agent fanned the flames of an ongoing corruption investigation by saying in court that... Continue Reading →
Source: ANP / Press Office - imprensa@anp.gov.br 08/02/2016 Total production in pre-salt rose 8.2% in the previous month. Total production of oil and natural gas in Brazil in June totaled 3,210 million barrels of oil equivalent per day (boe / d), surpassing the previous record achieved in August 2015, when Brazil produced 3,171... Continue Reading →
Brazil's federal police said on Tuesday they had arrested two people and raided properties over alleged corruption at building firm Queiroz Galvao, widening a sweeping investigation focused on state-run oil company Petroleo Brasileiro SA. "Operation Carwash" was launched two years ago to tackle price fixing, bribery and political kickbacks at Petrobras. It has led to... Continue Reading →
Brazil’s Senate this week resumes impeachment proceedings that are expected to result in the permanent ouster of Dilma Rousseff and strengthen the hand of her vice president, Michel Temer, to revive a shrinking economy. A special congressional committee is slated to decide Thursday whether to recommend the opening of an impeachment trial against the president... Continue Reading →
