Brazil's opposition parties on Thursday filed a request in Congress to impeach President Dilma Rousseff for breaking fiscal rules by allegedly manipulating government finances to benefit her re-election last year. The request was backed by some members of Rousseff's main political ally, the fractious PMDB party, Brazil's largest, whose votes would be needed to succeed... Continue Reading →
Petrobras – Clarification on News: Petrobras without Gaspetro
Petrobras - Clarification on News: Petrobras without Gaspetro 09/16/2015 Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 359/2015/CVM/SEP/GEA-1, which requested clarifications as transcribed below: OFFICIAL LETTER 359/2015/CVM/SEP/GEA-1 “We report hereby to the news published by the Isto É Dinheiro magazine, under the title “Petrobras sem Gaspetro” (Petrobras... Continue Reading →
Brazil president may roll back proposed spending cuts, taxes
Brazil's increasingly unpopular president, Dilma Rousseff, has had to negotiate parts of her recently announced austerity measures with skeptical lawmakers, putting in doubt fiscal savings needed to balance Brazil's budget, newspaper Estado de S. Paulo said on Thursday. If the government concedes on the three items under discussion, it could reduce proposed spending cuts by... Continue Reading →
Brazil Real, Stocks Drop on Political Crisis Before Fed Decision
Brazil’s real and stocks dropped on speculation that the president’s proposal to rein in the budget deficit will fail in Congress after lawmakers began formally discussing the possibility of impeachment on the floor of the lower house. Thursday’s 1.8 percent decline for the currency was the most in emerging markets and sent a gauge of... Continue Reading →
Brazil – Impeachment Pressures Mount
Brazil’s opposition leaders this week are taking the most decisive steps so far to try and remove President Dilma Rousseff from office amid growing discontent over her handling of a tanking economy. Lawmakers this week for the first time formally discussed the procedures for impeachment on the floor of the lower house, asking the head... Continue Reading →
Petrobras – Resignation of Petrobras Distribuidora CEO
Petrobras - Resignation of Petrobras Distribuidora CEO Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras informs that the CEO of Petrobras Distribuidora (BR), Mr. José Lima de Andrade Neto, has resigned today for health reasons. The CFO of Petrobras Distribuidora, Mr. Carlos Alberto Tessarollo, who was already replacing Mr. Lima during... Continue Reading →
Odebrecht’s Alleged Money Launderer Points Brazil Probe To Banks
An investigation into Latin America’s largest construction group is steering prosecutors to a transnational money laundering scheme allegedly conducted through Swiss branches of banks including HSBC Holdings Plc, Royal Bank of Canada and Deutsche Bank AG. Bernardo Freiburghaus, 47, a Brazilian-Swiss dual citizen, is accused by a judge in Brazil of setting up a money... Continue Reading →
Petrobras – Oil and Natural Gas Production in August
Petrobras - Oil and Natural Gas Production in August 09/16/2015 Rio de Janeiro, September 16, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that its average production of oil and natural gas, in Brazil and abroad, was 2.88 million barrels of oil equivalent per day (boed) in August 2015, an increase of 3.1% compared to... Continue Reading →
Petrobras – Clarification on News: Unprecedented expense cuts
Petrobras - Clarification on News: Unprecedented expense cuts Rio de Janeiro, September 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE “We request that you provide clarification, by 9:00 a.m. on September 15, 2015, of the content of the article... Continue Reading →
Petrobras – Clarification on News: Rental of Drilling Rigs/Sete Brasil – Further Explanation
Petrobras - Clarification on News: Rental of Drilling Rigs – Further Explanation 09/15/2015 Rio de Janeiro, September 15, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 354/2015/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 354/2015/CVM/SEP/GEA-1 “We report hereby to the to the above Official Letter, we request that you verify about... Continue Reading →
Brazil Energy Insight 