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Brazilians voice their anger as currency and economy continue their collapse Jonathan Wheatley | Mar 09 12:58 FT/Beyondbrics The Brazilian real continued its collapse on Monday, passing the barrier of R$3.10 to the US dollar just three trading days after going through the R$3.00 barrier. The currency is at its weakest for more than a decade... Continue Reading →
Brazil Congressional Chiefs Named in Petrobras Investigation By Raymond Colitt Anna Edgerton 8:46 PM BRT March 6, 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: Paulo Fridman/Bloomberg... Continue Reading →
March 6, 2015, 6:00 AM ET PetroTiger Faces Fallout for Coming Clean on Bribery By SARA SCHAEFER MUÑOZ and JOEL SCHECTMAN Wall Street Journal Zuma Press PetroTiger’s former chief executive Joseph Sigelman is accused of bribing a Colombian official. Directors of Colombian oil services company PetroTiger Ltd. decided to follow the advice of U.S. prosecutors... Continue Reading →
Petrobras Probe Shows Brazil’s Battle Against Graft Far From Won March 6, 2015 By Raymond Colitt Anti-government protesters demonstrate during clashes with the police outside the Mineirao stadium in Belo Horizonte. Photographer: Christophe Simon/AFP via Getty Images (Bloomberg) -- When Brazil’s President Dilma Rousseff won re-election in October, she pledged to crack down on... Continue Reading →
Sete Brasil and Petrobras are discussing earnestly the reduction of the 28 rigs contracted to be built by Sete Brasil. Initial negotiations indicate that the reduction will be at least 50% or 14 rigs. Sete Brasil has yet to receive the bridge loan from the Federal Development Bank, BNDES, this has caused major delays and... Continue Reading →
Brazilian Real Weakens Past 3.0 to the Dollar for First Time Since 2004 Concerns about the struggling economy and political problems push investors to buy dollars By JEFFREY T. LEWIS March 5, 2015 10:43 a.m. ET Wall Street Journal SÃO PAULO—The Brazilian real reached its weakest level since 2004 in midday trading Thursday as concerns... Continue Reading →
Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe By Juan Pablo Spinetto 1:22 PM BRT March 5, 2015 (Bloomberg) -- Shouting and finger-pointing between lawmakers marked the opening of Congress’s latest probe of corruption allegations at Brazil’s state-controlled oil company. Lawmakers raised their voices and yelled accusations as they argued over the creation of... Continue Reading →
5 March 2015 Last updated at 08:56 GMT BBC News Brazil raises interest rates to 12.75% to curb inflation Brazil's central bank has lifted interest rates to a six-year high of 12.75% to restrain inflation. Inflation in Brazil, Latin America's largest economy, was at a 12-year high in February of 7.4%. The government's target is 6.5%. Brazil's... Continue Reading →
Brazil’s Real Leads Global Drops as Rousseff Rebuffed on Taxes By Filipe Pacheco 10:07 AM BRT March 4, 2015 (Bloomberg) -- Brazil’s real led global currency declines as President Dilma Rousseff was rebuffed in the Senate over the unwinding of tax breaks, adding to concern that she will struggle to shore up the budget. The... Continue Reading →
http://www.ft.com/cms/s/0/5753f704-c233-11e4-ad89-00144feab7de.html#ixzz3TPXRbZXg PETROBRAS SCANDAL SET TO SNARE POLITICIANS March 4, 2015 9:51 am ©Getty Joe Leahy in São Paulo In Brazil’s modernist Congress building this week, the talk among lawmakers has focused on one subject only — who is on “Janot’s list”. Rodrigo Janot, attorney-general, on Tuesday night sought Supreme Court approval to investigate 28 cases... Continue Reading →
Brazil Energy Insight 