The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Swiss authorities will return $70 million more from funds frozen during investigations into allegations of corruption at Brazilian state oil group Petrobras (PETR4.SA), Attorney General Michael Lauber's office said on Thursday. The money - on top... Continue Reading →
Brazil’s Foreign Investors See a New President as Last Best Hope
The political storm descending on Brazil right now is a boon in the eye of foreign investors who see a change in government as the best way to pull the country out of its doldrums. Stocks and the real led global gains Thursday after President Dilma Rousseff’s naming of Luiz Inacio Lula da Silva, her predecessor... Continue Reading →
Brazil’s Central Bank Says It May Partially Unwind Swaps Program
Brazil’s central bank said it sees room to partially unwind a program aimed at boosting the real, prompting the currency to pare gains. Policy makers see the international economic environment creating an opportunity to unwind part of its foreign exchange swaps program by reducing its daily rollovers, the central bank press office told reporters on... Continue Reading →
Brazil Judge Suspends Lula’s Appointment to Rousseff Cabinet
Luiz Inacio Lula da Silva on March 17. Photographer: Evaristo Sa/AFP via Getty Images A federal judge in Brazil issued an injunction to suspend the appointment of Luiz Inacio Lula da Silva as President Dilma Rousseff’s chief of staff, further deepening a political crisis that has paralyzed Latin America’s largest nation. Judge Itagiba Catta Preta... Continue Reading →
Protesters clash ahead of swearing-in of Lula in Brazil
An anti-government demonstrator (L) and a supporter of Brazil's President Dilma Rousseff clash before the appointment of former Brazilian president Luiz Inacio Lula da Silva as chief of staff, near the Planalto palace in Brasilia, Brazil, March 17, 2016. REUTERS/RICARDO MORAES Supporters of leftist leader Luiz Inacio Lula da Silva clashed briefly with opponents of... Continue Reading →
Brazil’s Petrobras set to cut staff by 15 percent
Mar 17, 2016 - Reuters Gasoline prices are displayed at a Brazilian Oil Company Petrobras gas station in Rio de Janeiro, Brazil, February 6, 2016. REUTERS/RICARDO MORAES Brazil's state-run oil producer Petroleo Brasileiro SA plans to cut 15 percent of its staff through a voluntary layoff program to be announced by mid-year, newspaper o Estado... Continue Reading →
Brazil Police Tapped Rousseff Discussing Lula Cabinet Post
The federal judge leading Brazil’s largest corruption probe released phone recordings of President Dilma Rousseff and her predecessor Luiz Inacio Lula da Silva discussing his cabinet appointment. Judge Sergio Moro published transcripts of conversations that federal police obtained by tapping Lula’s phone as part of a corruption investigation, known as Carwash. In one of the... Continue Reading →
Brazil’s Crushing Debt Loads Are Leading to a Restructuring Boom
Brazil’s economic quagmire, with an ever-growing corruption scandal on top of the longest and deepest recession in at least a century, is producing an unprecedented era of corporate debt restructuring in the country. The borrowing binge Brazilian companies went on during the country’s economic boom earlier this decade has now turned into an albatross... Continue Reading →
Return of Lula Rattles Brazil as Investors See Policy Change
Embattled Brazilian President Dilma Rousseff installed her predecessor Luiz Inacio Lula da Silva at the heart of her government, a high-risk gambit that could rally her party’s base while rattling the country’s economic elite. The appointment announced by lower house leaders on Wednesday is designed to help shield Lula from a rolling corruption probe and harness... Continue Reading →
P-61 Output Below Expectations
The platform has completed a full year of production in Papa-Terra and is producing only 2,500 b/d [15.03.2016] / By Gabriela Medeiros/Brazil Energy P-61 platform and the P-63 FPSO, in the Para-Terra field, which, in total, is producing 16,000 b/d Petrobras is having a hard time increasing the production of the Papa-Terra field, which produces... Continue Reading →
