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Corruption-related losses at Brazil's state-run oil firm Petroleo Brasileiro SA will likely surpass 20 billion reais ($5.3 billion), federal prosecutor Deltan Dallagnol said on Friday. Dallagnol, part of a task force overseeing Brazil's largest-ever corruption investigation, said the 6.2 billion reais in corruption-related losses the company wrote off in April was "just the tip of... Continue Reading →
As Brazilian President Dilma Rousseff moves ever closer to impeachment, traders are wondering if another end is near: the end of the yearlong market rout. While most agree it’s too soon to declare either Rousseff’s presidency or Brazil’s stock and bond collapse are over, the debate is gaining steam. Franklin Templeton Investments ChairmanMark Mobius says... Continue Reading →
Petrobras - Clarifications about News on the media: Foreign partners’ investment in Comperj 10/08/2015 Rio de Janeiro, October 08, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 397/2015/CVM/SEP/GEA-1 which requests clarifications as transcribed below: OFFICIAL LETTER 397/2015/CVM/SEP/GEA-1 “We present clarifications about the news published today on the O Globo newspaper, Economy Section,... Continue Reading →
Petrobras - Adjustments in the Business and Management Plan 2015-2019: Additional information 10/08/2015 Rio de Janeiro, October 8, 2015 – Petróleo Brasileiro S.A. – Petrobras, complementing the Material Fact disclosed to the market on October 5 regarding adjustments to the 2015-2019 Business and Management Plan (PNG 2015-2019), hereby informs the exchange rate and the Brent... Continue Reading →
Brazil’s real is on course to post its best weekly gain in more than four years as speculation the Federal Reserve will delay raising interest rates because of weakness in the U.S. economy bolstered global appetite for riskier assets. The real gained 1.2 percent to 3.7418 per dollar at 9:41 a.m. in Sao Paulo, extending its... Continue Reading →
Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived. The front-month West Texas Intermediate futures contract enjoyed a double-digit advance in recent days, breaking above $50 per barrel on Thursday for the first time since July: Read More
President Dilma Rousseff of Brazil was so close with her chief of staff that aides said if she ever fired him it would be like firing herself. Last week, that’s what she did. The removal of Aloizio Mercadante and other top ministers showed not only political desperation amid fears of her impeachment but also the... Continue Reading →
Brazilian President Dilma Rousseff lost a key legal battle when a federal audit court rejected her government's accounts from 2014 on Wednesday, paving the way for opponents to try to impeach her. Congress must still decide whether she broke Brazil's budget law, an impeachable offense. Following are the steps of a presidential impeachment under Brazil's... Continue Reading →
Brazil’s real advanced the most among major currencies, rebounding from the world’s biggest loss Wednesday, as a court ruling put President Dilma Rousseff a step closer to facing impeachment over the way the government accounted for its finances last year. The real advanced 1.5 percent to 3.8292 per dollar, its strongest level in more than... Continue Reading →
Petrobras - Participation in the ANP’s 13th Bidding Round for exploratory blocks 10/07/2015 Rio de Janeiro, October 7, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it has not presented any proposals for the blocks offered during the 13th Exploratory Block Bidding Round of the National Petroleum, Natural Gas and Biofuel Agency (ANP),... Continue Reading →
Brazil Energy Insight 