Brazil's Supreme Court is expected to rule on Thursday whether terms of plea bargains struck in the nation's sweeping corruption probes can be revised by the full court, a move critics worry could sharply weaken the most potent weapon prosecutors wield in rooting out graft. The court on Wednesday began debating that topic, and two... Continue Reading →
Mexico Awards 10 of 15 Blocks in Oil Auction/WSJ
All of them located in shallow waters of the Gulf of Mexico Juan Carlos Zepeda, president of the National Hydrocarbons Commission, which is Mexico’s energy regulator and organizer of the auctions, at the auction Monday in Mexico City. PHOTO: REUTERS By Robbie Whelan June 19, 2017 MEXICO CITY—Mexico awarded 10 blocks of oil and gas... Continue Reading →
Brazilian police deliver graft investigation against Temer
Brazil's federal police on Tuesday delivered to a top court justice the bulk of their investigation into allegations that President Michel Temer took bribes in exchange for political favors doled out to the world's largest meatpacker, JBS SA. The document, made public by the top court, is a significant step in the investigation, which is... Continue Reading →
Changes to the Executive Board of Petrobras Distribuidora (BR)
Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Board of Directors of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR) approved yesterday the extension of the term of office of President Ivan de Sá Pereira Júnior and Officers of Operations and Logistics, Marcelo Fernandes Bragança, and Consumer Market, Antonio... Continue Reading →
Petrobras Announces Early Redemption Prices for Notes Due 2018
Rio de Janeiro, June 20, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to holders in connection with its redemption of the outstanding 2.750% Global Notes due 2018 (“2.750% Notes”), 5.875% Global Notes due 2018 (“5.875% Notes”) and 4.875% Global... Continue Reading →
Senate setback for Brazil’s Temer rattles reform agenda, markets
A Brazilian Senate committee on Tuesday rejected President Michel Temer's labor reform bill, in an unexpected blow to his administration that does not kill the pro-market proposal but shows weakening support for his agenda. Even after being rejected in the social affairs committee by 10 to 9 votes, the proposal moves to the constitutional and... Continue Reading →
United States Supreme Court Denies Petition for Review by Lawyer Behind Fraudulent Chevron Ecuador Lawsuit
SAN RAMON, Calf.--(BUSINESS WIRE)--The United States Supreme Court has denied a certiorari petition seeking review of a decision by the U.S. Court of Appeals for the Second Circuit affirming extensive district court findings that a $9.5 billion Ecuadorian judgment against Chevron Corporation was the product of fraud and racketeering activity, and unenforceable in the United... Continue Reading →
Sale of Azulão Field in Amazonas Basin: Start of the binding phase
Rio de Janeiro, June 19, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 5/15/2017, informs the start of the binding phase regarding the transfer of Petrobras’ stake in the Azulão Field, in the Amazon Basin. At this stage of the project, the invitation letters are issued to potential buyers... Continue Reading →
Petrobras approves settlement with investors to end individual securities action in the United States
Rio de Janeiro, June 19, 2017 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, an agreement to settle an individual securities action brought before the U.S. federal District Court for the Eastern District of Pennsylvania by a number of funds affiliated with The Vanguard Group,... Continue Reading →
Brazil’s central bank sees conditions to cut rates further – Goldfajn
Conditions remain favorable for interest rates to continue falling in Brazil and the main risk for that scenario is uncertainty over proposed economic reforms, central bank chief Ilan Goldfajn said on Monday at an event in São Paulo, according to prepared remarks published online by the bank. The central bank has cut interest rates by... Continue Reading →
Brazil Energy Insight 