Brought to you by Quest Offshore & Southern Cone Consultants
Brazil’s real advanced along with emerging-market currencies worldwide as commodity prices rallied amid improved appetite for riskier assets. The currency rose 0.7 percent to 3.3557 per dollar as of 1:54 p.m. in Sao Paulo, the highest level since July. The real has surged 18 percent in 2016, the world’s best performance. A gauge of emerging-market currencies... Continue Reading →
REUTERS/UESLEI MARCELINO/FILE PHOTO Brazil police on Thursday said they arrested former Minister Paulo Bernardo, who was indicted earlier this year, and raided Workers Party offices in the latest stage of a massive corruption probe. Bernardo was planning minister and communications minister during Workers Party administrations for about 10 years. Police searched 40 places in five... Continue Reading →
Prosecutor Hebert Mesquita believes scores of companies took part in Zelotes bribery scheme by: Samantha Pearson in Brasília/FT There is barely room to move in the office of Hebert Mesquita, a federal public prosecutor in Brasília. Bulging police files teeter precariously on top of hundreds of legal documents spread out over the cramped first-floor cubicle, each... Continue Reading →
Several graft and bribes probes into Centrais Elétricas Brasileiras SA could delay asset sale plans at Brazil's state-controlled power holding company, analysts and lawyers said on Wednesday, underscoring mounting caution among potential buyers. The course of federal and internal probes into accusations that government and company officials received bribes or help facilitate contracts and funnel... Continue Reading →
Brazil’s real followed a rally in emerging markets and commodities after the government scored another win in the Senate, increasing confidence the new administration has enough support to shore up the country’s finances following last year’s credit-rating downgrade to junk. The currency rose 0.7 percent to a two-week high of 3.3883 per dollar at 11:17... Continue Reading →
The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible. In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how... Continue Reading →
Suspended House Speaker Eduardo Cunha attends a news conference, in Brasilia, Brazil, June 21, 2016. REUTERS/ADRIANO MACHADO Brazil's suspended House speaker, Eduardo Cunha, denied any criminal wrongdoing on Tuesday and said he will not resign, even though he has already been indicted for corruption and faces the risk of imminent arrest. The Supreme Court indefinitely... Continue Reading →
Marcelo Odebrecht, the former chief executive of Latin America's largest construction company, will admit in plea bargain testimony that he personally oversaw illegal campaign donations for suspended President Dilma Rousseff in 2010 and 2014, newspaper Folha de S. Paulo said on Tuesday. The newspaper said Odebrecht will acknowledge having warned Rousseff on May 26, 2015... Continue Reading →
U.S. oil producers are drilling again. Rigs capped their first three-week gain since August, according to Baker Hughes Inc. data on June 17. Behind the build: a more than 80 percent gain in crude prices from a 12-year low in February and disruptions that saw West Texas Intermediate touch a 10-month high of $51.67 a... Continue Reading →
The last place you’d expect to find one of Credit Suisse Group AG’s highest-paid executives in 2015 is Brazil, given all the political and economic challenges facing the country. But Sergio Machado’s 48.4 million reais ($14 million) paycheck ranks above that of every member of Credit Suisse’s executive board listed in the lender’s annual report.... Continue Reading →
Brazil Energy Insight 