Brought to you by Quest Offshore & Southern Cone Consultants
Protests Grow Against Brazilian President Dilma Rousseff Nationwide marches planned for Sunday as public anger grows over faltering economy and alleged corruption Brazilians heckle the president at a São Paulo event on Wednesday. PHOTO: SEBASTIÃO MOREIRA/EUROPEAN PRESSPHOTO AGENCY By REED JOHNSON and ROGERIO JELMAYER March 11, 2015 6:16 p.m. ET Wall Street Journal SÃO PAULO—Tens of thousands of... Continue Reading →
Former Petrobras Executive Paying Back Millions in Graft Funds Pedro Barusco already has handed over 182 million Brazilian reais to federal prosecutors By PAUL KIERNAN March 11, 2015 7:36 p.m. ET Wall Street Journal RIO DE JANEIRO—A former executive of Petróleo Brasileiro SA has begun to pay back the nearly $100 million he said he amassed through bribery... Continue Reading →
OIL RIGS The woes of the Paraguacu shipyard, where Luciano Neri was employed, illustrate Brazil’s broader difficulties. It holds contracts totaling $4.8 billion to build six deep-water oil rigs for state-controlled Petroleo Brasileiro SA’s projects. The yard is owned by Enseada Industria Naval, a consortium of Odebrecht SA, OAS SA, UTC Engenharia SA and Japan’s... Continue Reading →
Petrobras Woes Giving These Bond Speculators a Windfall by Pablo Rosendo Gonzalez 8:01 PM BRT March 11, 2015 (Bloomberg) -- Petroleo Brasileiro SA’s woes are turning into a windfall for one group of bond investors. Facing billions of dollars in writedowns and all but shut out of overseas debt markets because of a widening kickback... Continue Reading →
http://www.ft.com/cms/s/0/0fdb4796-c6f8-11e4-9e34-00144feab7de.html#ixzz3U51hn2N0 GLOBAL INSIGHT March 11, 2015 8:58 am Petrobras scandal lays bare Brazil’s political fragilities Joe Leahy in São Paulo/FT President Rousseff faces a bruising second term — if she makes it that far ©AP Going by the first two months of her second term, Brazil’s President Dilma Rousseff is in for a brutal four years until... Continue Reading →
Vale CEO Ferreira Said to Be in Talks to Head Petrobras Board By Anna Edgerton Sabrina Valle 9:20 PM BRT March 10, 2015 (Bloomberg) -- Vale SA Chief Executive Officer Murilo Ferreira is being sounded out to take over as chairman of the board of Brazil's beleaguered oil producer Petroleo Brasileiro SA, people with knowledge... Continue Reading →
The oil price Dead cat rally The price of oil has bounced. But a recovery is some way off Mar 10th 2015 | Business and finance/The Economist STRONG demand and tight supply have stoked a rise in the oil price. Last week, it reached more than $60 for Brent (the benchmark price for North Sea oil) and... Continue Reading →
Former Petrobras Executive Says He Took Bribes Pedro Barusco, a former high-level manager, said he believes the governing party took twice as much as he did Former Petrobras executive Pedro Barusco listens to a question during his testimony before Congress in Brasilia, Brazil, on Tuesday. He told congressmen that he took bribes while working at... Continue Reading →
State oil firm's scandal scrambles Brazil's offshore dreams By ADRIANA GOMEZ LICON Associated Press AP Photo/Felipe Dana RIO DE JANEIRO (AP) -- Oil was to have been Brazil's "passport to the future," but the grand dreams tied to state company Petrobras have been brought to a screeching halt not only by falling crude prices, but... Continue Reading →
http://www.ft.com/cms/s/0/92136f40-c6fd-11e4-8e1f-00144feab7de.html#ixzz3TzJMabgC March 10, 2015 9:36 am Optimists see end for Brazil currency slide Joe Leahy in São Paulo When Brazil’s central bank met in late January to consider increasing interest rates, it predicted the currency, the real, would hover at R$2.65 to the dollar for the next two years. On Monday, the currency closed at about... Continue Reading →
