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The lower house of Brazil's Congress voted on Tuesday to appoint a committee stacked with opponents of President Dilma Rousseff to study whether to impeach her for breaking budget rules, a blow to the leftist leader battling for political survival. In a secret ballot, lawmakers voted 272-199 for a list of committee members drawn up... Continue Reading →
LONDON/RIO DE JANEIRO, Dec 8 Brazil's state-run oil company Petrobras is offering up to a quarter of its 40 percent stake in the huge Libra offshore oil prospect as its seeks to reduce the largest debt in the global oil industry, two industry sources said on Tuesday. The stake could fetch up to $1.5 billion,... Continue Reading →
Brazil’s real declined the most in a week after economic data from China, the country’s biggest trading partner, sparked a slump in currencies of commodity-producing nations. The real lost 1.1 percent to 3.8084 per dollar as of 11:28 a.m. in Sao Paulo, after rising as much as 0.6 percent earlier. A gauge of 20 developing-nation currencies declined... Continue Reading →
Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned any limits on crude output, prompting speculation that a record global glut will continue. Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009. Oil... Continue Reading →
Brazilian federal prosecutors presented formal charges against billionaire financier Andre Esteves and Senator Delcídio do Amaral on Monday, accusing them of obstructing a criminal investigation into state-run oil company Petrobras, according to a source familiar with the matter. Esteves, a founder and top shareholder of investment bank BTG Pactual SA and Amaral, who is President... Continue Reading →
Mon Dec 7, 2015 Reuters Dec 7 The controlling shareholders of Brazilian port operator Prumo Logistica SA are planning to delist the company in a public offering that could be worth more than 800 million reais ($210 million), according to a securities filing on Monday. Prumo said its controlling shareholders will offer up to 1.15... Continue Reading →
Brazil’s Vice President Michel Temer in a personal letter criticized Dilma Rousseff’s disdain for him, aggravating a political crisis amid opposition efforts to remove her from office. In the letter published by all major newspapers in the country, Temer said Rousseff never trusted him and gave several examples of how she had ignored him for... Continue Reading →
Brazil’s President Dilma Rousseff on Monday stepped up efforts to protect her mandate as legislators choose members of a committee that will recommend whether to impeach her. The full lower house of Congress is scheduled to vote Monday evening whether to accept the 65 members of the committee who are nominated by party leaders. The committee... Continue Reading →
Brazil's President Rousseff urged Congress on Monday to cancel its summer recess in January and deal swiftly with a request for her impeachment to nip in the bud an attempt to unseat her that she called undemocratic and legally flawed. Rousseff's opponents are seeking to impeach her for allegedly breaking budget laws as she ramped... Continue Reading →
Brazil won’t have room to cut interest rates next year as inflation remains above the upper limit of the target in spite of a deepening back-to-back recession, according to a central bank survey. Policy makers will keep the benchmark interest rate on hold at 14.25 percent next year, compared to a forecast of 14.13 percent... Continue Reading →
Brazil Energy Insight 