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Embattled Brazilian President Dilma Rousseff installed her predecessor Luiz Inacio Lula da Silva at the heart of her government, a high-risk gambit that could rally her party’s base while rattling the country’s economic elite. The appointment announced by lower house leaders on Wednesday is designed to help shield Lula from a rolling corruption probe and harness... Continue Reading →
The Modec contract for the FPSO Cidade de Campos dos Goytacazes involves a series of packages [15.03.2016] / By Lara de Faria/Brazil Energy Frames, from the Netherlands has signed a contract with Modec to provide life saving equipment and flow control for the Petrobras FPSO Cidade de Campos dos Goytacazes MV29. The equipment will be... Continue Reading →
Brazil’s former leader Luiz Inacio Lula da Silva will become President Dilma Rousseff’s chief of staff, two government leaders in the lower house of Congress, Jose Guimaraes and Afonso Florence said. The real fell against the U.S. dollar on Wednesday for the third straight session on investor concern that Lula could successfully use his renowned... Continue Reading →
Brazil’s real led losses in Latin America as traders dumped the currency following a news report that the central bank president may step down, adding to political turmoil that has rattled markets this week. The real slumped for a third day, losing 1.4 percent to 3.8202 per dollar at 10:25 a.m. in Sao Paulo. One-week... Continue Reading →
Brazil's Supreme Court said on Tuesday it had accepted a plea agreement offered by prosecutors to Senator Delcídio do Amaral, a legislative ally of President Dilma Rousseff until he was arrested last year in a far-reaching corruption scandal. A copy of Amaral's testimony for the plea, obtained by Reuters, confirmed leaks to Brazilian media in... Continue Reading →
Brazil’s former leader Luiz Inacio Lula da Silva will decide soon whether to accept a job in the government to shield himself from a corruption probe and help fight the impeachment of President Dilma Rousseff, according to people aware of the discussions. Lula, who has been charged with money laundering, on Tuesday afternoon is set... Continue Reading →
The tanker carrying the first cargo of natural gas from U.S. shale formations was entering Brazil on Tuesday after leaving Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana on Feb. 24. The liquefied natural gas tanker Asia Vision was arriving at port in Rio de Janeiro, according to shipping data compiled by Bloomberg. Petroleo Brasileiro... Continue Reading →
The Obama administration is reversing course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program being released Tuesday eliminates the administration’s initial plan... Continue Reading →
Brazil's former president Luiz Inacio Lula da Silva will likely accept a position in President Dilma Rousseff's cabinet but plans to travel to Brasilia on Tuesday to discuss his options with her in person, a source said on Monday. Brazil's top three papers also reported late on Monday that Lula was expected to accept a... Continue Reading →
When you’re owed $7 billion and the borrower asks for more time to pay, it tends to make you nervous. That’s why oil service companies are pinning hopes on Pemex’s new Chief Executive Officer Jose Antonio Gonzalez Anaya. Anaya told Congress last week that the state-owned oil company will pay what it owes to... Continue Reading →
Brazil Energy Insight 