Former Brazilian President Luiz Inacio Lula da Silva gestures as he attends a ''Democracy and social justice'' seminar in Sao Paulo, Brazil, April 25, 2016. REUTERS/PAULO WHITAKER A request by Brazil's prosecutor general for a Supreme Court investigation of ex-President Luiz Inacio Lula da Silva raises the odds against the ruling Workers Party emerging from... Continue Reading →
Brazil Top Court Justice Suspends Lower House Chief Cunha
A Brazilian Supreme Court Justice issued an injunction temporarily suspending Lower House Chief Eduardo Cunha from his duties as legislator, according to the court’s press office. The decision by Judge Teori Zavascki released on Thursday is effective immediately, but Cunha’s permanent removal needs to be ratified by the entire Court. The ruling was based on... Continue Reading →
Brazil Senate report recommends Rousseff impeachment trial
May 4, 2016 2:30pm EDT Reuters Brazil's President Dilma Rousseff reacts during a launch ceremony of Agricultural and Livestock Plan for 2016/2017, at the Planalto Palace in Brasilia, Brazil May 4, 2016. REUTERS/UESLEI MARCELINO The senator charged with studying President Rousseff's impeachment recommended on Wednesday that she be put on trial for breaking budget laws,... Continue Reading →
Maersk Oil leaves Brazil
Danish Maersk Oil will close operations in Brazil after selling its 40% participation in the Polvo field in the Campos Basin to PetroRio (ex HRT). The company sites cost cutting reasons for the sale.
Why This Year’s Oil Rally Might Be for Real
At first blush, the rally in oil to start 2016 bears some resemblance to the rally at the start of last year, which ultimately ended in tears. This time, though, analysts at Citigroup Inc. led by Seth Kleinman say the rally has legs. "The extra year of low prices has finally derailed the supply resilience that defined... Continue Reading →
Shell’s BG Risk Starts to Pay as Output Added, Costs Slashed
Royal Dutch Shell Plc’s record $54 billion acquisition of BG Group Plc is starting to pay off as the assets give it higher production and cash flow, helping it beat analysts’ earnings estimates when it reported quarterly results Wednesday. While Europe’s biggest oil company benefits from BG’s assets, it’s cutting expenses quickly enough to ensure the... Continue Reading →
Brazil’s Crusading Corruption Investigation Is Winding Down
The crusading federal judge behind Brazil’s explosive corruption investigation, facing the limits of his mandate and signs of political pushback, sees his role in the case winding down by the end of the year, a turning point in a probe that has helped push the president to the brink of impeachment. For more than two... Continue Reading →
Maersk Soars After Profit Drops Less Than Expected Amid Cuts
A.P. Moeller-Maersk A/S rose the most in 2 1/2 months after reporting a smaller decline in first-quarter profit than estimated following deeper cost cuts at its oil unit. Net income was $211 million last quarter compared with $1.54 billion a year earlier, the Copenhagen-based company said in a statement on Wednesday. That compares with a... Continue Reading →
Shell Quarterly Profit Beats Estimates on Refining Earnings
Royal Dutch Shell Plc’s first-quarter profit beat analyst estimates as better-than-expected earnings from oil refining and chemicals production countered crude prices at a 12-year low. Profit adjusted for one-time items and inventory changes fell 58 percent to $1.6 billion, exceeding the $1.18 billion average of analysts’ estimates compiled by Bloomberg. Europe’s biggest oil producer, which borrowed... Continue Reading →
Brazil’s Top Prosecutor Seeks to Investigate Rousseff, Lula
Brazil’s chief prosecutor has asked the Supreme Court to authorize an investigation into President Dilma Rousseff and her predecessor Luiz Inacio Lula da Silva, her mentor and close ally, two of the country’s main newspapers reported. Public Prosecutor Rodrigo Janot filed the request with the high court, which must authorize any formal probe into the... Continue Reading →
