Brazil’s former leader Luiz Inacio Lula da Silva will become President Dilma Rousseff’s chief of staff, two government leaders in the lower house of Congress, Jose Guimaraes and Afonso Florence said. The real fell against the U.S. dollar on Wednesday for the third straight session on investor concern that Lula could successfully use his renowned... Continue Reading →
Brazil Real Tumbles on Report of Possible Central Bank Shake-Up
Brazil’s real led losses in Latin America as traders dumped the currency following a news report that the central bank president may step down, adding to political turmoil that has rattled markets this week. The real slumped for a third day, losing 1.4 percent to 3.8202 per dollar at 10:25 a.m. in Sao Paulo. One-week... Continue Reading →
Amaral’s plea deal points finger at Brazil’s Rousseff, Lula
Brazil's Supreme Court said on Tuesday it had accepted a plea agreement offered by prosecutors to Senator Delcídio do Amaral, a legislative ally of President Dilma Rousseff until he was arrested last year in a far-reaching corruption scandal. A copy of Amaral's testimony for the plea, obtained by Reuters, confirmed leaks to Brazilian media in... Continue Reading →
Still can’t believe it – Lula Said to Decide Soon Whether to Take Brazil Cabinet Job
Brazil’s former leader Luiz Inacio Lula da Silva will decide soon whether to accept a job in the government to shield himself from a corruption probe and help fight the impeachment of President Dilma Rousseff, according to people aware of the discussions. Lula, who has been charged with money laundering, on Tuesday afternoon is set... Continue Reading →
Tanker Carrying First U.S. Shale Gas Export Entering Brazil Port
The tanker carrying the first cargo of natural gas from U.S. shale formations was entering Brazil on Tuesday after leaving Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana on Feb. 24. The liquefied natural gas tanker Asia Vision was arriving at port in Rio de Janeiro, according to shipping data compiled by Bloomberg. Petroleo Brasileiro... Continue Reading →
Obama Bars Atlantic Offshore Oil Drilling in Policy Reversal
The Obama administration is reversing course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program being released Tuesday eliminates the administration’s initial plan... Continue Reading →
BTG’s Petrobras Africa Purchase Cited by Senator in Plea Bargain
Grupo BTG Pactual allegedly underpaid for oil assets in Africa it bought from Petroleo Brasileiro SA in 2013, a Brazilian senator said in a plea-bargain deal published by the Supreme Court on Tuesday. The Sao Paulo-based bank paid $1.5 billion for a 50 percent stake in Petrobras’s Africa division. That was less than the $2.7 billion... Continue Reading →
You Gotta be Kidding me – Brazil’s Lula likely to take cabinet position
Brazil's former president Luiz Inacio Lula da Silva will likely accept a position in President Dilma Rousseff's cabinet but plans to travel to Brasilia on Tuesday to discuss his options with her in person, a source said on Monday. Brazil's top three papers also reported late on Monday that Lula was expected to accept a... Continue Reading →
New Pemex CEO Raises Hopes of Contractors for $7 Billion Payment
When you’re owed $7 billion and the borrower asks for more time to pay, it tends to make you nervous. That’s why oil service companies are pinning hopes on Pemex’s new Chief Executive Officer Jose Antonio Gonzalez Anaya. Anaya told Congress last week that the state-owned oil company will pay what it owes to... Continue Reading →
Brazil Oil Output To Grow 830,000 bopd By 2021
IEA expects Brazil to be the second country outside OPEC where oil should grow most over the next five years. Extraction should surpass 2.54 MM bopd, going to 3.36 MM bopd [23.02.2016] / By The Newsroom, with information from Valor Econômico The IEA believes Brazil will be the second country outside OPEC in terms of... Continue Reading →
Brazil Energy Insight 