Brazil's government is preparing a deal to allow construction companies implicated in a massive corruption scandal to do business again with state-run oil company Petrobras in exchange for the payment of fines and damages, a government official briefed on the matter said on Wednesday. The official, who asked not to be named because negotiations are... Continue Reading →
Brazil judge says president’s ex-chief of staff may have been bribed
A federal judge in Brazil overseeing a sweeping corruption investigation said on Tuesday there were signs that President Dilma Rousseff's former chief of staff had received bribes. Judge Sergio Moro asked the Supreme Court to authorize an investigation into whether a graft case involving Brazil's planning ministry may have benefited Gleisi Hoffmann, now a senator... Continue Reading →
Brazil Court Delays Decision on Rousseff Campaign Funding
Brazil’s electoral court delayed a decision on whether to open hearings into allegations President Dilma Rousseff illegally financed her re-election campaign, charges that could provide grounds for her removal from office. Five of the seven judges on the court, known as the TSE, said they were in favor of opening hearings, and one voted against.... Continue Reading →
Brazil Court to Decide on Hearing Rousseff Campaign Funding Case
Brazil’s electoral court will vote late on Tuesday whether to open hearings into allegations President Dilma Rousseff illegally financed her re-election campaign, charges that could provide grounds for her removal from office. A petition with the court filed by the opposition party PSDB alleges that Rousseff and her Vice-President Michel Temer used more money than... Continue Reading →
Brazil VP drops liaison role, remains in Rousseff government: source
Brazilian Vice President Michel Temer has decided to drop his role as day-to-day political coordinator in Congress for President Dilma Rousseff but is not leaving her government, a source in the administration said on Monday. Temer is an important ally of the embattled Rousseff and his decision will further hamstring the unpopular president, who is... Continue Reading →
Brazil to cut government ministries, costs to show austerity
Brazil's government announced on Monday it will slash the number of ministries and reduce its spending, in an effort to show commitment to austerity that could be politically costly for President Dilma Rousseff. Planning Minister Nelson Barbosa said the administrative overhaul aims to make the state more efficient, but did not specify how much the... Continue Reading →
Brazil Judge Seeks Probe Into Rousseff’s 2014 Campaign Funds
A Brazilian electoral court judge has requested a probe into President Dilma Rousseff’s 2014 campaign financing on signs it may have included money siphoned from state-owned oil company Petrobras. Judge Gilmar Mendes said in his request to prosecutors and federal police that there are indications Rousseff’s Workers’ Party was indirectly financed by Petrobras, which is... Continue Reading →
UPDATE 2-Brazil’s largest party not bolting Rousseff government
Brazilian Vice President Michel Temer, a key ally of embattled President Dilma Rousseff, might end his role managing her unwieldy coalition in Congress but he is not planning to leave her government, members of his party said on Friday. "The vice president has not taken any decision on quitting the political liaison role," a spokesman... Continue Reading →
U.S. Oil Prices Hit Fresh Six-Year Low, Dropping Below $40 a Barrel
The price of oil in the U.S. tumbled below $40 a barrel Friday for the first time since 2009 amid a growing consensus that cheap oil is here to stay. Oil investors and forecasters, who predicted early in the year that prices would recover in the second half of 2015, now say a rebound is... Continue Reading →
Brazil’s Former President Collor de Mello in the Hot Seat Again
Brazil has seen politicians accused of corruption leave and re-enter politics time and again. But Thursday’s charges against lawmakers for allegedly pocketing bribes as part of a graft ring at Brazil’s state-run oil company contained the name of the most famous comeback kid of them all: former President Fernando Collor de Mello. Mr. Collor de... Continue Reading →
Brazil Energy Insight 