Jun 16, 2016 4:07pm EDT Reuters Brazilian Minister of Tourism Henrique Eduardo Alves talks on his mobile phone after a meeting with Brazil's then Vice President Michel Temer (not pictured) in Brasilia, Brazil, December 14, 2015. REUTERS/UESLEI MARCELINO Brazil's tourism minister, Henrique Eduardo Alves, resigned on Thursday, according to the president's office, making him the... Continue Reading →
Back at the House of Cards – Brazil’s Acting President Refutes Campaign Finance Allegations
Brazil’s Acting President Michel Temer denied allegations he sought inappropriate campaign donations for his party and pledged to remain undeterred in his efforts to pull the country out of crisis. In a plea bargain published by the Supreme Court on Wednesday, a former executive from state-run oil company Petrobras claimed that Temer in 2012 asked... Continue Reading →
Brazil Real Falls as Central Bank Report Adds to Global Sell-Off
Brazil’s real tumbled Thursday after an economic report showed the economy shrank more than forecast, magnifying the effects of a global sell-off in emerging markets. The real was the biggest dud among Latin American peers after the central bank said economic activity, often seen as a proxy for gross domestic product, declined 4.99 percent in... Continue Reading →
Petrobras plans re bid unfinished works at Comperj by the end of 2016
16/06 / 2016 ABEGAS Petrobras intends to return to the market this year to re bid certain unfinished works of the Petrochemical Complex of Rio de Janeiro State (Comperj) in Itaboraí (RJ), which had their service interrupted over the past few months. The company's expectation is to re bid the construction of the natural... Continue Reading →
Update related to the Class Action in the United States
Rio de Janeiro, June 15, 2016 – Petrobras informs that the United States Court of Appeals for the Second Circuit issued an order today granting Petrobras’s petition to permit an appeal from the order of the District Court in which the District Court certified classes in the securities litigation. The District Court’s order was disclosed... Continue Reading →
New well in Libra confirms extension of oil discovery
Rio de Janeiro, June 15, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that the Libra Consortium has concluded the drilling and appraisal of the seventh well in the block, located in the pre-salt layer of the Santos Basin. The new well has discovered Libra’s largest net pay to date, with 410 meters of... Continue Reading →
Brazil’s Petrobras kicks off auction process to sell Liquigás
Jun 15, 2016 7:26pm EDT Reuters The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Brazil's state-controlled oil company Petróleo Brasileiro SA has kicked off a competitive auction process to sell Liquigás Distribuidora SA, a subsidiary focused on the distribution and sale of liquefied natural... Continue Reading →
Brazil government proposes 20-year spending cap to tame public debt
Brazil's interim President Michel Temer proposed on Wednesday a constitutional amendment to limit public spending growth for up to 20 years, one of the most far-reaching fiscal reforms in decades designed to curb a runaway rise in public debt. Brazil's government, including the legislative and judiciary branches, will be obliged to limit annual spending growth... Continue Reading →
Petrobras – Clarification on News: Brookfield Consortium to acquire NTS
Rio de Janeiro, June 14, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 260/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 260/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on this date in the Primeiro Lugar (First Place) column of Exame magazine, entitled O consórcio da Brookfield (Brookfield Consortium),... Continue Reading →
Petrobras Said Close to $6 Billion Sale of Brazil Gas Pipelines
Brazil’s troubled state-run oil company Petrobras is close to selling a 81 percent stake in a natural gas pipeline network in Brazil for nearly $6 billion to a consortium led by Brookfield Asset Management Inc, said three people with direct knowledge of the matter. The Singapore sovereign-wealth fund GIC Pte, the Chinese sovereign-wealth fund China Investment... Continue Reading →
Brazil Energy Insight 