Rousseff Said to Study Brazil Budget Freeze With Cabinet Sunday by Carla Simoes/Bloomberg 4:37 PM BRT May 15, 2015 Brazilian President Dilma Rousseff is scheduled to meet with cabinet members on Sunday to discuss how much spending to freeze from this year’s budget, a person close to the government’s economic team said. The gathering comes... Continue Reading →

http://www.ft.com/cms/s/0/cf03ef60-fad8-11e4-84f3-00144feab7de.html#ixzz3aEwAPdNV May 15, 2015 1:59 pm Hedge funds loom large in oil price moves David Sheppard and Neil Hume/FT A floating production vessel heads for the Sapinhoa oilfield in Brazil's Santos Basin Forget the interplay between supply and demand. When it comes to oil prices, hedge funds and speculators are exerting an uncommonly large influence, say... Continue Reading →

Are markets too bearish on Brazil’s currency? Mark Schaltuper, BMI Research | May 15 17:26 /FT Brazil’s economy – as beyondbrics readers know – is in serious trouble, and the unorthodox policies of the country’s embattled president, Dilma Rousseff, have been major contributors to the Brazilian real’s sharp depreciation. But as an analyst who has a long-held... Continue Reading →

Rousseff Takes Political Hit on Brazil Spending With Long Fuse By Raymond Colitt Arnaldo Galvao/Bloomberg 7:30 PM BRT May 14, 2015 Brazil’s Supreme Court on Friday gave the green light to investigate the heads of both houses of Congress while ruling out a probe into President Dilma Rousseff in the country’s largest corruption scandal. Photographer:... Continue Reading →

Brazil Charges First Lawmakers in Petrobras Graft Probe The former members of congress are accused of money laundering, embezzlement and other crimes Adir Assad (second left), Sonia Mariza Branco (third left, bottom), Lucelio Goes (top center) and former Petrobras executive Renato Duque (second right) are escorted by federal police as they leave the Institute of... Continue Reading →

For Big Oil, the Party’s Over in Alberta An election win by liberals strikes fear into the heart of Canada’s oil industry By Jeremy Van Loon/Bloomberg 6:23 PM BRT May 14, 2015 There’s a reason they call Alberta the Texas of the North. The province is home to Canada’s oil industry and produces more than... Continue Reading →

In Oil, Aberdeen Struggles With Price, Output Cost of production from North Sea is rising and jobs are disappearing Sean Murphy, an Aberdeen oil-rig supervisor, has been looking for work for months. PHOTO: JO HANLEY FOR THE WALL STREET JOURNAL By GEORGI KANTCHEV/WSJ May 14, 2015 1:43 p.m. ET ABERDEEN, Scotland—When he was laid off in December, Sean... Continue Reading →

Thu May 14, 2015 2:06pm EDT   Brazil president says to maintain oil rules, national content RIO DE JANEIRO/Reuters May 14 Brazilian President Dilma Rousseff said on Thursday that her government will maintain rules that mandate production-sharing contracts for the country's most promising areas and high national content requirements for the oil industry. "The local... Continue Reading →