Mar 28, 2016 People leave the headquarters building of Petroleo Brasileiro S.A. (PETROBRAS) in Rio de Janeiro, Brazil, March 21, 2016. REUTERS/SERGIO MORAES Brazil's state-run oil producer Petroleo Brasileiro SA will hold a shareholder meeting on April 28 to vote on proposed changes to the company's board, the company said in a statement on Monday.... Continue Reading →
Brazil’s PMDB plans policies for new government if Rousseff is ousted: report
Brazil's President Dilma Rousseff arrives to a meeting with jurists at Planalto Palace in Brasilia, Brazil, March 22, 2016. REUTERS/ADRIANO MACHADO The Brazilian Democratic Movement Party (PMDB) is already working on policies including sweeping welfare cuts should their coalition partner President Dilma Rousseff be impeached and it formed the new government, a newspaper said on... Continue Reading →
Petrobras Bondholders See Rare Bright Spot in Brazil’s Currency
Petroleo Brasileiro SA is becoming less of a default risk in the eyes of bondholders, despite the oil producer’s mounting losses in the wake of an unprecedented bribery scandal. That’s because the Brazilian real’s 8.1 percent surge this year against the dollar -- the second-biggest gain in the world -- is bolstering the state-controlled company’s... Continue Reading →
Brazil power regulator to approve generator debt plan
Mar 24, 2016 Reuters Brazil power regulator to approve generator debt plan Brazil's electricity regulator Aneel is expected to approve on Tuesday a plan for power generators to repay debt to state-run oil firm Petrobras and other creditors, two sources with direct knowledge of the deal said on Thursday. The plan calls for generators to... Continue Reading →
Brazil Scion’s Testimony Pledge And Donation Lists Fuel Crisis
Investigations into Latin America’s biggest building conglomerate could nearly triple the number of politicians involved in Brazil’s largest corruption probe. Lists of alleged payments from the Odebrecht SA conglomerate to more than 200 politicians were disclosed in court documents on Tuesday, before being placed under secrecy by Judge Sergio Moro, who has led the so-called... Continue Reading →
Surprised? – The World’s Best Performing Market Is Still in Serious Trouble
After a disastrous 2015, Brazilian stocks and bonds are posting the biggest gains among global peers this year. Speculation that President Dilma Rousseff could soon be ousted, ending a political stalemate that has paralyzed the country, is fueling the rally. Yet, whoever steps into Rousseff’s shoes would face daunting challenges, from closing a crippling budget... Continue Reading →
Welcome to the Jungle of Brazil’s Impeachment Process
With Brazil’s impeachment vote growing closer by the day, it’s easy to get lost in a maze of dozens of political parties -- their acronyms and leaders -- all of which will have a say in the future of President Dilma Rousseff’s mandate. For starters, there are 594 seats in Congress shared between 25 parties.... Continue Reading →
Petrobras Clarification of News Item: Time of Results Disclosure on the NYSE
03/23/2016 Rio de Janeiro, March 23, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 121/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 121/2016/CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published on this date in the Economia (Economy) section of the newspaper O Globo, entitled Petrobras tem novo prejuízo histórico... Continue Reading →
INSIGHT-Brazil graft crackdown spurs work for lawyers, corporate change
In the midst of Brazil's worst recession in decades, lawyer Thiago Jabor Pinheiro switched firms to focus full-time on one of the only booming fields in the scandal-plagued country: compliance and corporate ethics. For Pinheiro, a massive corruption investigation unfolding at state-run oil firm Petrobras offers a golden opportunity. The scandal broke just as a... Continue Reading →
Pressure on Brazil’s Rousseff may rise as jobless lose benefits
More than 2 million Brazilians are set to lose unemployment benefits by June, data obtained by Reuters show, threatening to erode support for embattled President Dilma Rousseff among her core working class supporters when she needs them most. The expiration of benefits could fuel frustration and feed a growing wave of protests against Brazil's left-leaning... Continue Reading →
Brazil Energy Insight 