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Petrobras CEO Lost Job Over a $30 Billion Disagreement By Sabrina Valle Anna Edgerton 12:00 AM BRT March 4, 2015 Maria das Gracas Foster, former Chief Executive Officer of Petroleo Brasileiro SA (Petrobras). Photographer: Yasuyoshi Chiba/AFP/Getty Images (Bloomberg) -- As the kickback and money-laundering scandal engulfing state-run oil giant Petrobras escalated in late January,... Continue Reading →
http://www.ft.com/cms/s/0/9c00b9f6-c0e8-11e4-9949-00144feab7de.html#ixzz3TKPZthko Last updated: March 3, 2015 11:10 am Petrobras fall from grace roils wider Lat Am debt markets Vivianne Rodrigues in New York and Joe Leahy in São Paulo Moody’s decision last week to strip Brazil’s oil company Petrobras of its investment grade status and send it two notches into junk territory triggered a sharp sell-off in the country’s... Continue Reading →
As Brazil Tightens Belt, Other Woes Follow President Dilma Rousseff’s austerity measures are angering supporters and exacerbating an economic slowdown Brazilian Finance Minister Joaquim Levy, left, consults with President Dilma Rousseff this past week in Brasília, the country’s capital.PHOTO: ASSOCIATED PRESS By PAULO TREVISANI And ROGERIO JELMAYER Wall Street Journal Feb. 27, 2015 6:11 p.m. ET ... Continue Reading →
Brazil In a quagmire Latin America’s erstwhile star is in its worst mess since the early 1990s Feb 28th 2015 | From the print edition The Economist Brazil’s economy is in a mess, with far bigger problems than the government will admit or investors seem to register. The torpid stagnation into which it fell in 2013 is... Continue Reading →
Downgrade of Brazil Oil Giant Stirs Wider Concern Moody’s move to lower Petrobras’s debt to junk status sparks worries for broader economy WALL STREET JOURNAL By WILL CONNORS and PAULO TREVISANI Updated Feb. 25, 2015 9:35 p.m. ET SÃO PAULO—A decision by a major credit-rating firm to downgrade to junk status the debt of Petróleo Brasileiro SA is... Continue Reading →
Brazil: 10 good reasons to think the two-month-old government will go Jonathan Wheatley Financial Times So much is going wrong in Brazil that it is hard to keep up. For years, critics have accused the government of incompetence. Now its actions are looking catastrophic – so much so that there are good reasons to think... Continue Reading →
http://www.ft.com/cms/s/0/92ab80e4-b827-11e4-b6a5-00144feab7de.html#ixzz3SDwCBCQu February 19, 2015 4:37 pm Opec has ceded to the US its power over oil price Alan Greenspan Shale breakthrough will be a more effective market stabiliser, writes Alan Greenspan Normal diplomacy probably could not have achieved the geopolitical outcomes that have been produced in the past year by America’s shale oil revolution. Oil prices... Continue Reading →
HSBC Pitches Petrobras-Tainted Oil Rig Bonds Nobody Wants By Paula Sambo 10:00 PM BRST February 12, 2015 (Bloomberg) -- In the months since Brazil’s largest bribery scandal broke, bond investors have fled companies tied to the alleged kickbacks. They’ve been far too hasty, according to HSBC Holdings Plc and Mizuho Securities USA. Odebrecht Offshore Drilling... Continue Reading →
Petrobras Link to Sete Could Cause BTG, Santander Losses By Cristiane Lucchesi Filipe Pacheco Francisco Marcelino 3:30 PM BRST February 12, 2015 (Bloomberg) -- A Brazilian executive’s guilty plea on graft charges drew little global attention last week amid the wider corruption scandal at Petrobras. It didn’t escape the notice of the nation’s top... Continue Reading →
Petrobras Said to Hit Drilling Snag at Biggest Brazil Find by Peter MillardSabrina Valle 4:11 PM BRST February 10, 2015 (Bloomberg) -- Petroleo Brasileiro SA halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team. An... Continue Reading →
Brazil Energy Insight 