Brazil is seeking a rapprochement with the U.S. as the Western Hemisphere’s two largest economies try to realign interests after a decade of diplomatic skirmishes. Brazil president Dilma Rousseff will arrive in New York on Saturday for a five-day tour including San Francisco. It is her first official travel to Washington since she canceled a... Continue Reading →

When Sergio Moro ordered the detention of two prominent top executives last week, the Brazilian federal judge said he was acting to protect the world’s seventh-largest economy. “These companies, given the dimension of billions in net worth, have a relevant role in the Brazilian economy,” Moro said last week. “It’s even reasonable to debate leniency... Continue Reading →

A news report triggering concern that former President Luiz Inacio Lula da Silva could be arrested as part of a sweeping corruption scandal -- a fear that was later diffused -- sent investors scrambling to dump Brazilian assets. Read More

Due to the conditions in Brazil, Petrobras' subsea spend can be seen to have fallen as much as 80% since its peak in 2013

Most of the oil riches in Brazil have come to production via the FPSO.  For the first time in many years there will be ZERO FPSO's ordered for use in Brazil.  As seen in the attached chart, it will take several years for activity to increase.  This will have a great affect on the future... Continue Reading →

The 15 percent jump in the price of crude this quarter represents a $2.8 billion windfall. That’s because every time the average quarterly price of Brent -- the benchmark for most international oil sales -- increases by a dollar, Chevron scoops up an extra $325 million to $350 million in cash beyond certain expenses. Read... Continue Reading →

The political scene in Brazil is getting worse by the minute. First are Lula's public complaints about Dilma, the Workers Party and the present administration. Secondly, the rebellion of party and coalition members, the open war with the president of the house and the various defeats of the administration is passing crucial but unpopular bills... Continue Reading →

Brazil's lower house of Congress on Wednesday approved a measure that would raise pension expenditures in coming years, in another surprise defeat for President Dilma Rousseff who is struggling to shore up the government's finances. Read More

Petroleo Brasileiro SA is heading into a Manhattan courtroom Thursday to ask a judge to throw out investor lawsuits triggered by the multibillion-dollar bribery scandal that’s rocking Brazil’s economy and its political elite. Less than a week after police detained the chief executives of Brazil’s two biggest builders in connection with the kickback probe, the... Continue Reading →