President Dilma Rousseff will leave Brazil in the hands of the man who she accuses of leading a coup attempt against her when she travels to New York on Thursday for a United Nations climate event. Her two-day trip comes after the lower house on Sunday voted by a wide margin in favor of her... Continue Reading →
Brazil’s President-in-Waiting, a Political Insider, Is Preparing
Brazilian politics has, for the past 13 years of Workers’ Party rule, been run by those evincing a street-savvy populism. Now a very different character is poised to become president, in some ways a throwback to an earlier era, an inside operator and deal maker with strong ties to the investment community. Vice President Michel... Continue Reading →
Brazil Goes Easy on Wealthy Tax Dodgers to Help Plug Budget Gap
A 70-something corporate lawyer in Sao Paulo’s financial district is ready to come clean with a secret that’s weighed on him for decades: He owns $200,000 in undisclosed cash illegally stashed abroad. He’s not alone. Well-to-do Brazilians have hidden as much as $400 billion in offshore accounts from the nation’s tax authorities -- and not... Continue Reading →
What Is the ‘Magic Number’ for the Price of Oil?
WSJ At $50 per barrel, falling Brent prices started to hurt rather than help shares and other risky assets ENLARGE There are some signs that the influence of oil on other assets may be fading. Above, the Transocean John Shaw oil platform in Cromarty, U.K. PHOTO: BLOOMBERG NEWS By JAMES MACKINTOSH April 19, 2016 12:06... Continue Reading →
Brazil Central Bank Lets Real Rally After $32 Billion Swap Sale
Brazil’s real led gains among major peers as the central bank refrained from weakening the currency after selling $32.3 billion in reverse swaps over the past month. The real rose 2.4 percent to 3.5322 per dollar on Tuesday, taking a breather from the central bank’s auctions, which are equivalent to buying dollars in the futures market.... Continue Reading →
Brazilian Gas Producer Parnaiba Seeks Acquisitions Amid Downturn
Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy. The Rio de Janeiro-based producer spent 800 million reais ($223 million) last year to expand infrastructure and drill 30 wells in what was Brazil’s biggest drilling campaign on land, Chief Executive Officer... Continue Reading →
Petrobras says unit extraction costs at Subsalt Polygon fall 7 pct
Apr 19, 2016 Reuters The cost of extracting oil from Brazil's so-called Subsalt Polygon in the Atlantic ocean fell about 7 percent last year, state-controlled oil producer Petróleo Brasileiro SA said on Tuesday. In a securities filing, Petrobras said unit extraction costs fell to $8.50 per barrel of oil last year from about $9.10 a... Continue Reading →
Petrobras, Brazil oil sector could get lift from impeachment
Brazil's corruption-battered state oil company Petrobras could be a big beneficiary if the country's opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday. Vice President Michel Temer, who would take power if Rousseff were impeached, is considered open to industry calls for changes to oil rules brought in by her Workers' Party... Continue Reading →
Brazil’s Rousseff Vows to Fight After Losing Impeachment Vote
Should she succeed the question is how will she manage the country with only 28% support from Congress?? Brazil’s President Dilma Rousseff on Monday pledged to continue fighting an impeachment process that she considers a threat to democracy and a personal affront. Visibly downcast, Rousseff struck a personal tone in her first speech since the... Continue Reading →
What comes after the vote to impeach Brazil’s president
Economist The vice-president is likely to take power. He will not find it easy to govern the country Apr 18th 2016 | BRASÍLIA AT 11.07pm on April 17th federal deputy Bruno Araújo of Pernambuco state cast the most momentous vote in his parliamentary career. The lawmaker for the centre-right opposition Party of Brazilian Social Democracy... Continue Reading →
Brazil Energy Insight 