Feb 24, 2016 Reuters The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Swiss authorities have arrested a Brazilian citizen linked to a criminal investigation into suspected bribes paid to former directors at Brazil's state-run oil company Petroleo Brasileiro SA, Swiss federal prosecutors said... Continue Reading →
Brazil Credit Ratings Cut to Junk by Moody’s
Brazil’s sovereign rating was cut to junk by Moody’s Investors Service, the last of the major ratings companies to strip the country of its investment grade, as President Dilma Rousseff struggles to shore up fiscal accounts amid deepening political turmoil. The country’s benchmark stock gauge declined the most in two weeks and the currency weakened... Continue Reading →
Peru’s president linked in court papers to Brazil bribery scheme
Brazilian police have uncovered evidence that Peruvian President Ollanta Humala may have received $3 million in bribes from engineering and construction conglomerate Odebrecht, according to federal court filings in Brazil. The court papers, made public on Monday, show that documents seized from Marcelo Odebrecht, the jailed former chief executive of the Brazilian company, list $3... Continue Reading →
For Exxon and Shell, Age of Ultramajors Comes at the Wrong Time
This may not be the best time to be bigger than big. The $64 billion tie-up of Royal Dutch Shell Plc with BG Group Plc and the steady growth of Exxon Mobil Corp. are creating a new league of two: the ultramajors. Executives at smaller companies are even starting to joke that Chevron Corp., Total SA,... Continue Reading →
Brazil Real Falls as Goldman Sachs Cites Fiscal Insolvency Risk
Brazil’s real tumbled after inflation accelerated and as Goldman Sachs said the currency is poised to drop another 10 percent this year while the government struggles to contain consumer-price increases and shore up its budget. Sentiment in Brazil remains distinctively negative and the dominant view is that things will get worse before they get better, Alberto... Continue Reading →
Brazil police probe possible Odebrecht bribes to Peru president
Brazilian police are investigating potential bribes of $3 million from Latin America's largest engineering conglomerate Odebrecht to Peruvian President Ollanta Humala, court documents showed. Documents seized from Marcelo Odebrecht, the former CEO of the family-run company, cite "Program OH," which police said in the documents they interpreted as referring to the initials of the Peruvian... Continue Reading →
Petrobras Said to Buy Cheniere’s First U.S. Shale Gas Export
Petroleo Brasileiro SA, Brazil’s state-owned energy company, is scheduled to receive the first cargo of shale gas to be shipped from the U.S., according to a person familiar with the deal. The shipment of liquefied natural gas was agreed to on Monday, said the person who asked not to be identified because the information isn’t public.... Continue Reading →
Brazil’s Petrobras to stop onshore drilling rigs in 6 states -Valor
Feb 23, 2016 Reuters Brazil's state-run Petroleo Brasileiro SA plans to shut down onshore drilling rigs in at least six states because of the low price of oil, newspaper Valor Economico reported on Tuesday, citing a source with knowledge of the operations. The paper said Petrobras, as the company is known, would suspend rig operations... Continue Reading →
Statoil to Double Gulf of Mexico Crude Oil Output by End of 2018
Statoil ASA plans to double oil production from deepwater wells in the Gulf of Mexico in three years after slashing one in five workers at its U.S. business and installing new managers. The Norwegian oil giant is bucking the trend among other major explorers who are scaling back or outright canceling deepwater Gulf of Mexico... Continue Reading →
Timeline: Key moments in Brazil corruption probe
Brazilian police said on Monday they obtained an arrest warrant for the architect of President Dilma Rousseff's electoral campaigns, complicating her fight to survive an investigation into her 2014 re-election and stave off impeachment by Congress. The investigation of campaigner João Santana, known as "the maker of presidents" in Latin America, is part of Brazil's... Continue Reading →
