Wed Oct 5, 2016 | Reuters Brazil's former President Luiz Inacio Lula da Silva reacts after voting during municipal elections in Sao Bernardo do Campo, Brazil, October 2, 2016. REUTERS/Paulo Whitaker Brazil's federal police have presented formal charges against former President Luiz Inacio Lula da Silva in a case involving contracts obtained by building and... Continue Reading →
Brazil leniency deals on hold for corruption probe: minister
Negotiations on leniency deals between the Brazilian government and 12 companies blacklisted in the Petrobras corruption scandal have been put on hold until prosecutors conclude plea bargains with executives, Brazil's anti-corruption minister told Reuters. Transparency Minister Torquato Jardim said he was keen to get the construction firms back to work on government contracts once they... Continue Reading →
Odebrecht nears $2 bln plea deal in Brazil graft case
Oct 5, Reuters - Brazilian industrial conglomerate Odebrecht is on the verge of reaching a plea deal that includes a fine of more than 7 billion reais ($2.2 billion) for its role in the country's biggest-ever political graft scandal, a newspaper reported on Wednesday. Brazilian business daily Valor Economico reported, without saying how it obtained... Continue Reading →
Brazil in Fright as Moro’s Untouchables Close In on Iconic Lula
Former Brazilian President Luiz Inacio da Silva left office in 2010 so beloved -- U.S. President Barack Obama called him "the man" -- and with approval ratings so historically high that the trappings of tributes filled 10 shipping containers. There was wine from French ex-heads of state Jacques Chirac and Nicolas Sarkozy, an oxcart from... Continue Reading →
Petrobras commences new Bid process for the Libra Pilot Project FPSO
Rio de Janeiro, October 04, 2016 - Petróleo Brasileiro S.A. – Petrobras, operator of Libra consortium, confirms that it has commenced a new bid process for the Libra Pilot Project FPSO. The company confirms the cancellation of the previous bid process, which began on August 12th, 2015, because it resulted in a proposal with an... Continue Reading →
Brazil’s Petrobras relaunches order for presalt oil exploration vessel
Oct 4 - Reuters. Brazilian state-controlled oil company Petroleo Brasileiro SA confirmed it will relaunch the process to order a Floating Production Storage Offloading vessel to explore the presalt area, the company said in a securities filing Tuesday. Petrobras said it cancelled a previous FPSO order because it resulted in prices above those practiced on... Continue Reading →
Elections over, Brazil tackles unpopular spending reforms and the rules for the exploration of Brazil’s vast offshore oil reserves
Brazilian President Michel Temer's government introduced to Congress on Tuesday a landmark constitutional amendment to cap public spending, seeking to press ahead with unpopular reforms in the wake of last weekend's municipal elections. The lower House is also expected to vote on Tuesday on a bill that changes the rules for the exploration of Brazil's... Continue Reading →
Petrobras Fuel Unit Sale Said to Lure Brazil Banking Clans
The Brazilian bankers who joined forces last decade to form Latin America’s largest lender are seeking to buy control of the country’s giant fuel distribution business from Petroleo Brasileiro SA, people with direct knowledge of the matter said. The Setubal and Vilella families’ Itausa - Investimentos Itau SA and the Moreira Salles family’s Cambuhy Investimentos... Continue Reading →
Petrobras – Clarifications on the discovery in Albacora, at the Campos Basin
10/03/2016 Rio de Janeiro, October 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby clarifies that the discovery of a pre-salt reservoir in the Albacora concession of the Campos Basin, as was reported by the newspaper O Globo on October 3, 2016, occurred in April 2011 with the drilling of the well 6-BRSA-899D-RJS (6-AB-119D). The... Continue Reading →
Brazil’s Petrobras sends documents to potential bidders of fuel unit
Mon Oct 3, 2016 | Reuters A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/Ueslei Marcelino/File Photo State-controlled oil company Petróleo Brasileiro SA (PETR4.SA) has sent documents to potential bidders presenting the sale of subsidiary Petrobras Distribuidora SA, formally launching a reworked plan to sell a... Continue Reading →
Brazil Energy Insight 