IEA expects Brazil to be the second country outside OPEC where oil should grow most over the next five years. Extraction should surpass 2.54 MM bopd, going to 3.36 MM bopd [23.02.2016] / By The Newsroom, with information from Valor Econômico The IEA believes Brazil will be the second country outside OPEC in terms of... Continue Reading →
The Oil Crisis To Impact The Economy By US$ 13 B
According to the energy economics department at UFRJ University, in addition to cuts in investments by the oil companies, Brazil will also suffer from the drop in royalties [20.10.2015] / By João Montenegro/Brazil Energy The crisis in the oil sector will generate R$ 62 billion (US$ 13 B at current exchange rates) less in income... Continue Reading →
Opec: Pre-Salt Needs More Investments, Partnerships
According to the organization, Brazil will be the only Latin American country where oil production will rise. The cartel believes the increase in 2016 should be 80,000 boepd [14.03.2016] / By Gabriela Medeiros/Brazil Energy The FPSO Cidade de Mangaratiba (pictured) is the nation bigger oil producer Brazil's pre-salt region still needs more investments and partnerships,... Continue Reading →
IHI Leaves EAS Shipyard
The Japanese firm owned one-third of Estaleiro Atlântico Sul’s shares and is leaving Brazil [14.03.2016] By Lara de Faria/Brazil Energy Japan EAS Investimento, controlled by the Japanese IHI and JGC of Japan, has sold its stake in the Estaleiro Atlântico Sul shipyard, in the state of Pernambuco. The company owned one-third of the shipyard's shares,... Continue Reading →
Brazil Impeachment Rally Loses Steam as Economic Reality Sets In
The rally that made Brazilian assets the world’s best performers in 2016 is losing momentum as investors’ euphoria over prospects for change in government gives way to pessimism about how hard it will be to pull the country out of an economic malaise no matter who is in power. The Ibovespa equity gauge, Brazil’s currency... Continue Reading →
Argentine prosecutors cast wide net in Brazil graft probe
Argentine prosecutors are probing close to 100 companies, among them Brazilian firms, in an investigation into the suspected payment of bribes to government officials, a source with direct knowledge of the investigation said. The Argentine probe stems from Brazil's "Operation Car Wash" graft case, which has resulted in the jailing of some company executives, criminal... Continue Reading →
Brazil Congress to Revive Impeachment Following Record Protests
Legislators are gearing up to revive Brazil’s stalled impeachment process as early as this week after millions of people on Sunday demanded the ouster of President Dilma Rousseff. Lower house speaker Eduardo Cunha said he would call for the creation of a congressional committee tasked with issuing a recommendation on impeachment the day after the... Continue Reading →
Millions Join Brazil Impeachment Chorus in Threat to Rousseff
Dilma Rousseff’s future as president of Brazil was cast into further doubt as millions of protesters, wearied by scandal and recession, staged some of the largest rallies in the country’s modern history. Brazilians demonstrated peacefully for Rousseff’s ouster in cities throughout the country on Sunday, with some estimates counting more than 3 million people on... Continue Reading →
Economic activity in Brazil falls for 11th month in January
Reuters A gauge of economic activity in Brazil in January fell for the 11th straight month, official data showed on Monday, indicating the country's recession deepened at the start of the new year. The Brazilian central bank's IBC-Br economic activity index fell 0.61 percent in January from the prior month, the bank said. A Reuters... Continue Reading →
Brazil’s Rousseff benefited from Belo Monte dam graft: report
Brazil's President Dilma Rousseff speaks during a news conference at the Planalto Palace in Brasilia, Brazil March 11, 2016. REUTERS/UESLEI MARCELINO Graft money skimmed from overpriced contracts to build the Belo Monte hydroelectric dam in the Amazon funded President Dilma Rousseff's 2010 and 2014 election campaigns, a ruling Workers' Party senator has testified according to... Continue Reading →
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