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This Wednesday may be the last day in office for President Dilma Rousseff, as Brazil’s Senate gears up for a vote that would force her out and into an impeachment trial she appears unlikely to survive. The Senate debate is scheduled to last 10 hours and end by 10 p.m. local time, the chamber’s speaker... Continue Reading →
Brazil’s Senate on Wednesday opened its session to determine whether President Dilma Rousseff will face an impeachment trial, proceedings that will likely end with her suspended from office. Ms. Rousseff is accused of violating the nation’s budgets laws, accusations that she denies. Wednesday’s proceedings opened at 10 a.m. local time. If a simple majority of... Continue Reading →
Brazil’s real rose as the Senate gears up for a vote that would force President Dilma Rousseff out and into an impeachment trial she appears unlikely to survive, even as the central bank intervened to weaken the currency. The real strengthened 0.4 percent to 3.4639 per dollar at 9:30 a.m. in Sao Paulo as the monetary... Continue Reading →
Brazil's President Dilma Rousseff reacts as she attends a signing ceremony for new universities, at Planalto Palace in Brasilia, Brazil, May 9, 2016. REUTERS/ADRIANO MACHADO - RTX2DJ5S Minutes after taking her oath of office in 2011, President Dilma Rousseff stood before Congress and pledged to end the dirty back-room deals and kickback schemes at the... Continue Reading →
Bruno Chabas thought it would be easier to restore the image of offshore oil equipment supplier SBM Offshore NV when he became the chief executive officer in early 2012. Three months after moving into the executive suite, Chabas decided to go public with what would become Holland’s biggest corruption scandal. Schiedam-based SBM announced it had been... Continue Reading →
May 10, 2016 Reuters Brazil's attorney general asks court to annul impeachment Brazil's General Attorney Jose Eduardo Cardozo gestures as he presents President Dilma Rousseff's defence against impeachment in Brasilia, Brazil, May 5, 2016. REUTERS/ADRIANO MACHADO Brazil's Attorney General Eduardo Cardozo asked the Supreme Court to annul impeachment proceedings against President Dilma Rousseff, his office... Continue Reading →
The real and the Ibovespa benchmark equity index resumed a rally that has put Brazilian assets among this year’s world beaters as the drive to oust President Dilma Rousseff appeared to get back on track. The currency advanced 0.9 percent to 3.4858 per dollar and the stocks gauge climbed 1.4 percent to 51,679.67 at 10:32 a.m.... Continue Reading →
Antonio Delfim Netto has no patience for skepticism about Brazil’s future. In his 88 years, he’s witnessed -- and sometimes, been part of -- plenty of periods of instability. A military regime, multiple currency changes, a sovereign debt default, hyperinflation, Brazil’s so-called economic miracle, and the deep recession that followed it. Now, when everybody else... Continue Reading →
Reuters May 9, 2016 The acting speaker of Brazil's Lower House of Congress early on Tuesday revoked his decision to annul the impeachment vote against President Dilma Rousseff. Speaker Waldir Maranhao, in an official statement to the Senate, did not cite any reason for backtracking on his surprise announcement on Monday to annul last month's... Continue Reading →
DNB ASA, one of the biggest lenders to the offshore energy industry, sees the market slump lasting until 2020 as the collapse in crude prices drags down drillers and supply ship operators. The market crash would resemble a “very long U,” or even an “L,” the bank’s head of Shipping, Offshore & Logistics, Kristin Holth,... Continue Reading →
Brazil Energy Insight 