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The heads of two of Brazil’s largest construction companies were detained by police on Thursday as part of a broader probe into corruption at Petrobras, according to local media. Marcelo Odebrecht and Otavio Azevedo, heads of Construtora Norberto Odebrecht and Andrade Gutierrez construction companies, respectively, were among the 12 people judges had issued detainment and... Continue Reading →
Petroleo Brasileiro SA is accelerating a divestment program for offshore exploration blocks and intends to complete the first group of sales in the coming months in a bidding process, said three people with knowledge of the plan. Read More
Investors know times are tough in Brazil when debt-collection companies are among the best investments. It’s not hard to see why it might be a good time to invest in debt collection. Economists say Latin America’s largest economy is heading for its deepest recession in 25 years, and households are more indebted than ever before.... Continue Reading →
As the press and market tries to guess the Petrobras Divestment Plan, various rumors are being published from "sources close to the company". Read More
Clarification on News: Divestments 06/17/2015 Rio de Janeiro, June 17th, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with OFFICIAL LETTER n.º 184/2015/CVM/SEP/GEA-1, which requests clarifications as follows: OFFICIAL LETTER n.º 184/2015/CVM/SEP/GEA-1 “We refer to the article released on this date in the newspaper “O Estado de São Paulo”, entitled: “Petrobrás negotiates selling part of... Continue Reading →
Petrobras Transporte S.A. – Transpetro new CEO 06/17/2015 Rio de Janeiro, June 17th 2015 - Petróleo Brasileiro S.A. - Petrobras informs that the Board of Directors of its wholly-owned subsidiary Petrobras Transporte S.A. – Transpetro, in a meeting held today, designated Mr. Antônio Rubens Silva Silvino, current Executive Manager of Corporate Downstream in Petrobras, as... Continue Reading →
Bets against the Brazilian real are at a four-month low as President Dilma Rousseff musters political support for efforts to cut budget deficits and preserve the nation’s credit rating. Read More
Brazil’s audit tribunal summoned President Dilma Rousseff to explain signs of irregularities in the 2014 fiscal accounts that prevented the court from approving the country’s financial statements. Read More
Demand for investment-banking services slowed in Brazil on concern the nation’s credit rating would be cut, combined with the biggest corruption scandal in the country’s history, involving the state-owned oil company known as Petrobras. The slide will probably ease later this year, according to Jean-Marc Etlin, chief executive officer for Banco Itau BBA SA’s investment-banking... Continue Reading →
China’s anti-corruption investigators continued to zero in on the nation’s oil giants, calling on two of its biggest state-owned companies to review their overseas investments and accusing them of nepotism. One wonders if the recent investments in Brazil's pre salt Libra field will be investigated. Read More
Brazil Energy Insight 