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General Electric Co. could become one of the top players in the oil services and equipment industry if it decides to bid for Baker Hughes Inc. A Justice Department lawsuit filed this week against Halliburton Co. to stop the merger of the world’s second- and third-largest oilfield service companies could soon put Baker Hughes back... Continue Reading →
President Dilma Rousseff addresses a news conference after visiting the new Embraer KC 390 military transport aircraft in Brasilia, Brazil April 5, 2016. REUTERS/ADRIANO MACHADO - RTSDP79 Brazilian President Dilma Rousseff's government rejected new accusations on Thursday that her election was illegally funded with graft money and expressed confidence it can block an attempt to... Continue Reading →
Former Brazilian President Luiz Inacio Lula da Silva speaks in support of President Dilma Rousseff, as he attends a protest against her impeachment at the Union of Metal Workers in Sao Bernardo do Campo, Brazil, April 4, 2016. REUTERS/LEONARDO BENASSATTO Brazil's top prosecutor recommended on Thursday that the Supreme Court block the appointment of former... Continue Reading →
How should presidential systems deal with political breakdown? Apr 9th 2016 | From the print edition Economist IN DAILY verbal broadsides, Brazil’s president, Dilma Rousseff, and her political allies claim that the attempt to impeach her is a “coup d’état”. It is an emotive statement that moves people beyond her governing Workers’ Party (PT) and beyond Brazil.... Continue Reading →
Grupo BTG Pactual, the Brazil investment bank whose billionaire founder Andre Esteves was arrested in November in a corruption scandal, said a four-month review found no evidence to support the allegations. A special committee of directors and outside counsel “found no basis to conclude that the allegations of misconduct and corruption against Esteves, BTG Pactual... Continue Reading →
Rio de Janeiro, April 7, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 1082/2016-SAE, which requests the following clarifications: Official Letter 1082/2016-SAE “Dear Sirs, A news item published in the April 6, 2016 edition of the newspaper Valor Econômico states that Petrobras needs oil prices to be higher than US$90 per... Continue Reading →
Switzerland’s financial regulator will investigate “suspicious” bank connections that have surfaced in leaked Panama documents and is stepping up probes into a troubled Malaysian development fund and Petroleo Brasileiro SA. “The leaked database from Panama is just the latest proof of how money flows like water through multiple jurisdictions, sometimes for legitimate purposes, sometimes not,”... Continue Reading →
It seems not even the board of Halliburton Co. thought the price of oil would remain depressed this long. The company’s five top executives missed out on at least $12.2 million in cash bonuses last year after Halliburton posted cash value added -- a metric it uses to determine bonus payouts -- that was off... Continue Reading →
Executives from Brazil's second-largest engineering company, Andrade Gutierrez, have testified that President Dilma Rousseff's 2014 reelection campaign was partly funded with kickbacks from large infrastructure projects, a newspaper reported on Thursday. The testimony, part of a plea bargain deal with 11 executives, would be the strongest link yet between the widening "Operation Car Wash" probe... Continue Reading →
President Dilma Rousseff addresses a news conference after visiting the new Embraer KC 390 military transport aircraft in Brasilia, Brazil April 5, 2016. REUTERS/ADRIANO MACHADO Brazilian President Dilma Rousseff moved closer to impeachment when a key member of a Congressional committee said on Wednesday there were grounds for the Senate to put her on trial... Continue Reading →
Brazil Energy Insight 