Brought to you by Quest Offshore & Southern Cone Consultants
The political scene in Brazil is getting worse by the minute. First are Lula's public complaints about Dilma, the Workers Party and the present administration. Secondly, the rebellion of party and coalition members, the open war with the president of the house and the various defeats of the administration is passing crucial but unpopular bills... Continue Reading →
Brazil's lower house of Congress on Wednesday approved a measure that would raise pension expenditures in coming years, in another surprise defeat for President Dilma Rousseff who is struggling to shore up the government's finances. Read More
Petroleo Brasileiro SA is heading into a Manhattan courtroom Thursday to ask a judge to throw out investor lawsuits triggered by the multibillion-dollar bribery scandal that’s rocking Brazil’s economy and its political elite. Less than a week after police detained the chief executives of Brazil’s two biggest builders in connection with the kickback probe, the... Continue Reading →
The head of Brazilian conglomerate Odebrecht SA wrote a note to lawyers saying “destroy rigs e-mail” while he was in jail, police said in a statement Wednesday. Read More
The cut in Petrobras's investment plan for the period 2015 to 2019 will be close to 40%, with the new budget around $ 130 billion, says real time service agency Broadcast. Last year, when the company was still chaired by Graça Foster, the investment goal was $ 220.4 billion in five years. But, given the... Continue Reading →
Petrobras - Clarification on News: Cuts in Budget 06/24/2015 Rio de Janeiro, June 24th, 2015 – Petróleo Brasileiro S.A. – Petrobras´ response to Official Letter BM&FBovespa 2.206/2015-SAE that requests clarification as follows: OFFICIAL LETTER 2.206/2015-SAE We request clarification by June 24th, 9:00 AM, regarding the news’ content broadcasted by Agência Estado – Broadcast, on June... Continue Reading →
Petroleo Brasileiro SA, the oil producer at the center of Brazil’s largest graft probe, led gains in the Ibovespa on speculation that the company will reduce investments by 40 percent. Read More
Standard & Poor's on Tuesday cut the rating of Odebrecht Engenharia e Construcao, Brazil's largest engineering and construction company, after the arrest of its chief executive and four other directors last week. S&P cited "reputational risks" to cut Odebrecht's rating by one notch to BBB-minus, its lowest investment grade and in line with Brazil's sovereign... Continue Reading →
Brazil's biggest corruption investigation could spread to its largest electric utility, Eletrobras, and more than a dozen foreign companies, a lead prosecutor said on Tuesday, in a sign of further turbulence for the country's business and political establishment. Read More
For embattled oil producer Petroleo Brasileiro SA, the 35 percent surge in crude prices since March should be a godsend. In fact, it’s making life even worse for the state-controlled company. Petrobras, which imports gasoline because it doesn’t produce enough to meet demand in Latin America’s biggest economy, is unable to raise fuel prices in... Continue Reading →
Brazil Energy Insight 