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Brazilian President Dilma Rousseff on Friday barred government delays in repaying state-run banks, in an attempt to strengthen her defense ahead of a court ruling on such postponements that could serve as grounds for her impeachment. Rousseff published a decree to ban delays as she faces potential impeachment on accusations she broke the nation's fiscal... Continue Reading →
Brazil's beleaguered President Dilma Rousseff shrank her cabinet and reshuffled ministers on Friday to bolster alliances within her coalition government and block efforts to impeach her. Rousseff named former defense minister Jacques Wagner, a political heavyweight, as her chief of staff and put one additional cabinet post, the health ministry, under control of the PMDB,... Continue Reading →
Petrobras will cut 2015 investments to U$20 billion, down from originally U$40 billion at the start of the year and revised down to U$29 billion at mid year, according to reputable newspaper reporting this Friday. Soaring dollar and the fall in the price of the barrel of oil are forcing Petrobras directors to review, once... Continue Reading →
Brazilian bonds enjoyed a second day of higher prices Thursday, defying negative sentiment in the broader markets and turning a blind eye to the country's ugly fundamentals. Bonds were 1.5-4.0 points higher on the day in the wake of Wednesday's rally, which was sparked by news that oil company Petrobras would hike domestic fuel prices.... Continue Reading →
The group behind Brazil’s biggest-ever corruption probe has tracked the $1.5 billion bribery scheme that started with Petroleo Brasileiro SA across four continents. Now, the team of prosecutors, police and one dogged judge may be facing their biggest challenge yet: hanging on to the investigation. Defense attorneys are trying to chip away at the judge’s... Continue Reading →
A group of lawmakers called for the resignation of the speaker of Brazil's lower house of Congress Eduardo Cunha on Thursday after Switzerland provided Brazilian prosecutors with details of Swiss bank accounts in his name. Cunha, who has been charged with corruption and money laundering in Brazil's largest-ever bribery and political kickback scandal, refused to... Continue Reading →
Brazil's Oil and Gas Regulatory Agency - ANP, announced that total Brazilian oil production was up 3.3% , month to month, in August. Oil production hit all time high average of 2.547 million barrels per day, breaking the record of 2.457 million barrels per day set on Dec. 2014. Total natural gas production was also... Continue Reading →
Brazil’s real weakened the most among emerging-market currencies after lawmakers approved amendments to a retirement bill that would boost government spending, dealing a blow to efforts to shore up the country’s finances. The real dropped 0.7 percent to 3.9748 per dollar at 12:18 p.m. in Sao Paulo, ending two days of gains. The real is down... Continue Reading →
The U.S. became a net oil exporter to Mexico for the first time in more than 20 years as output from shale fields pushed the world’s biggest consumer toward energy independence. Net exports -- comprising only oil products since the U.S. bans most shipments of crude -- totaled 48,000 barrels a day in July, the... Continue Reading →
Wed Sep 30, 2015 3:06pm EDT Petrobras bonds rally on hike in fuel prices BY PAUL KILBY/Reuters NEW YORK, Sept 30 (IFR) - Bonds issued by troubled state-run Brazilian oil company Petrobras were enjoying a rare rally on Wednesday following news that it would raise local gasoline and diesel prices. Petrobras's debt prices jumped between... Continue Reading →
Brazil Energy Insight 