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Peruvian prosecutors plan to visit Brazil this month to gather evidence of bribery on a transcontinental highway project, Peru's attorney general said in an interview, adding to regional fallout from the biggest corruption scandal in Brazil's history. The mission laid out by Peruvian Attorney General Pablo Sánchez is the most public sign yet of international... Continue Reading →
Key Latin American stock indexes and currencies at 1720 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 934.47 -0.77 -1.53 MSCI LatAm 2,426.18 -0.92 -10.23 Brazil Bovespa 51,819.92 -1 3.62 Mexico IPC 45,593.09 0.59 5.67 Chile IPSA 3918.15 0.46 1.74 Chile IGPA 19,035.25 0.41 0.87 Argentina MerVal 12,183.85 -1.56 42.02... Continue Reading →
Energy producers are abandoning the search for oil and natural gas close to shore in the U.S. Gulf of Mexico as drilling budgets shrink and exploration migrates to land-based shale fields. The number of permits for new wells in seas less than 500 feet (152 meters) deep plunged 74 percent to nine during the first... Continue Reading →
Two former executives of Camargo Correa SA received sentences exceeding 15 years from a judge handing down the first punishments to builders in Brazil’s biggest-ever corruption scandal. Judge Sergio Moro sentenced ex-President Dalton Avancini along with Eduardo Leite, the conglomerate’s former vice president, to 15 years and 10 months for corruption, money laundering and organized... Continue Reading →
Crude oil’s worst run in four months is hurting more than just commodity traders. Currencies from the Norwegian krone to Brazil’s real are tumbling as investors revise economic growth expectations for petroleum-exporting nations. Mexico’s peso slumped to its weakest since a 1993 revaluation, while the Canadian dollar fell to a six-year low. Read More
The oil guru who predicted last year’s rout said $100-a-barrel crude is likely to return within five years as faltering supply fails to meet demand. Gary Ross, the founder of consultants PIRA Energy Group, said oil markets aren’t nearly as oversupplied as many believe and spare capacity is tight since Saudi Arabia is pumping all... Continue Reading →
The Ibovespa led losses in the Americas after Finance Minister Joaquim Levy said that a credit rating downgrade by Moody’s Investors Service is more likely if Brazil doesn’t make economic adjustments. Traders also pushed down the value of shares after newspaper Folha de S. Paulo reported Saturday that lower house President Eduardo Cunha would rebel... Continue Reading →
The real slid 0.9 percent to 3.2172 per dollar at 9:58 a.m. in Sao Paulo, the weakest level on a closing basis since July 9. Swap rates, a gauge of projected changes in Brazil’s borrowing costs, fell 0.01 percentage point to 12.88 percent on the contract maturing in January 2018. Read More
Royal Dutch Shell (RDSa.L), which is all set to acquire rival BG Group Plc (BG.L), may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reported on Sunday, citing sources. A substantial cut to this year's capital investment might be outlined during the... Continue Reading →
Any attempt by the Brazilian government or Congress to relax spending-reduction goals for this year would inevitably extend the duration of the current fiscal adjustment program, Finance Minister Joaquim Levy said in a newspaper interview published on Sunday. Some members of President Dilma Rousseff's government and a few ruling coalition lawmakers want the government to... Continue Reading →
Brazil Energy Insight 