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By Editorial Board The detention of Brazil’s former president Luiz Inacio Lula da Silva marks a new stage in the corruption probe that has all but paralyzed the government for the past two years. Meanwhile, as that drags on, the economy keeps spiraling downward. One way or another, Brazil urgently needs to resolve the scandals... Continue Reading →
Rising from a shoeshine boy to become Brazil's first working class president, Luiz Inácio Lula da Silva is a hero to millions of Brazilians and the very face of change in Latin America's biggest country. His detention for questioning on Friday in a massive corruption probe may also make him a symbol for many Brazilians... Continue Reading →
Former Brazilian President Luiz Inacio Lula da Silva was briefly detained for questioning on Friday in a two-year-long probe of a vast corruption scheme involving state oil company Petroleo Brasileiro SA, or Petrobras , a political crisis that threatens his successor, President Dilma Rousseff. The following are some of the main events in the investigation:... Continue Reading →
The arrest of former Brazilian president Luiz Inacio Lula da Silva fueled a massive market rally but once the euphoria fades, investors will still face concerns about political chaos and an economy mired in a deep recession. Lula's detention for questioning in a bribery and money laundering probe and the move's dire implications for his... Continue Reading →
As soon as police raided the home of former Brazil President Luiz Inacio Lula da Silva and questioned him early Friday, red-shirted activists of his Workers’ Party took to the streets. Fist fights broke out with police as well as with those applauding the detention -- a preview of the unrest that likely awaits Brazil... Continue Reading →
Emerging-market currencies rallied to a three-month high as Brazil’s real surged on bets support is growing for the impeachment of President Dilma Rousseff and on speculation better-than-expected U.S. jobs data will underpin demand from the world’s biggest economy. The real headed for its best week since 2008 and Petroleo Brasileiro SA jumped 12 percent after the arrest... Continue Reading →
IS THIS THE SMOKING GUN AND THE SILVER BULLET??? Brazilian police detained former President Luiz Inacio Lula da Silva, the highest-profile figure targeted so far in a corruption probe that has rocked Latin America’s largest country and is drawing closer to its center of power. Brazil’s Highs and Lows Police said he was taken to... Continue Reading →
Output of oil and natural gas in Brazil fell to its lowest in 14 months in January as companies performed maintenance on offshore oil platforms, the country's petroleum regulator ANP said on Thursday. Forty-three companies in Brazil produced an average of 2.965 million barrels of oil and equivalent natural gas a day (boepd) in the... Continue Reading →
Brazilian ruling party Senator Delcido do Amaral, arrested in November on obstruction of justice charges, has agreed to a plea bargain implicating President Dilma Rousseff and ex-President Luiz Inacio Lula da Silva in the Petrobras graft scandal, local media reported on Thursday. The online version of Brazilian paper O Estado de S.Paulo said Amaral,... Continue Reading →
Rio de Janeiro, March 2, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 559/2016-SAE which requests the following clarifications: Official Letter 559/2016-SAE “Dear Sirs, A news item published in the March 2, 2016 edition of the newspaper Valor Econômico states that Petrobras lost the discussion involving R$7.3 billion in the Higher... Continue Reading →
Brazil Energy Insight 