http://www.ft.com/cms/s/0/bfcec5bc-c3d1-11e4-a02e-00144feab7de.html#ixzz3TtXAqcBQ March 8, 2015 4:14 pm Swiss banks drawn into Petrobras scandal Joe Leahy in São Paulo and Madison Marriage in Geneva Documents released by a Brazilian court have outlined the alleged use of Swiss bank accounts for the payment of bribes in the Petrobras scandal. Pedro Barusco, a former Petrobras executive and key witness in what... Continue Reading →
Brazilians voice their anger as currency and economy continue their collapse
Brazilians voice their anger as currency and economy continue their collapse Jonathan Wheatley | Mar 09 12:58 FT/Beyondbrics The Brazilian real continued its collapse on Monday, passing the barrier of R$3.10 to the US dollar just three trading days after going through the R$3.00 barrier. The currency is at its weakest for more than a decade... Continue Reading →
Brazil Congressional Chiefs Named in Petrobras Investigation
Brazil Congressional Chiefs Named in Petrobras Investigation By Raymond Colitt Anna Edgerton 8:46 PM BRT March 6, 2015 Brazil’s Supreme Court on Friday gave the green light to investigate the heads of both houses of Congress while ruling out a probe into President Dilma Rousseff in the country’s largest corruption scandal. Photographer: Paulo Fridman/Bloomberg... Continue Reading →
PetroTiger Faces Fallout for Coming Clean on Bribery
March 6, 2015, 6:00 AM ET PetroTiger Faces Fallout for Coming Clean on Bribery By SARA SCHAEFER MUÑOZ and JOEL SCHECTMAN Wall Street Journal Zuma Press PetroTiger’s former chief executive Joseph Sigelman is accused of bribing a Colombian official. Directors of Colombian oil services company PetroTiger Ltd. decided to follow the advice of U.S. prosecutors... Continue Reading →
Petrobras Probe Shows Brazil’s Battle Against Graft Far From Won
Petrobras Probe Shows Brazil’s Battle Against Graft Far From Won March 6, 2015 By Raymond Colitt Anti-government protesters demonstrate during clashes with the police outside the Mineirao stadium in Belo Horizonte. Photographer: Christophe Simon/AFP via Getty Images (Bloomberg) -- When Brazil’s President Dilma Rousseff won re-election in October, she pledged to crack down on... Continue Reading →
Contributing editor’s note: Petrobras and Sete Brasil in discussions to reduce contract of 28 rigs by half
Sete Brasil and Petrobras are discussing earnestly the reduction of the 28 rigs contracted to be built by Sete Brasil. Initial negotiations indicate that the reduction will be at least 50% or 14 rigs. Sete Brasil has yet to receive the bridge loan from the Federal Development Bank, BNDES, this has caused major delays and... Continue Reading →
Brazilian Real Weakens Past 3.0 to the Dollar for First Time Since 2004
Brazilian Real Weakens Past 3.0 to the Dollar for First Time Since 2004 Concerns about the struggling economy and political problems push investors to buy dollars By JEFFREY T. LEWIS March 5, 2015 10:43 a.m. ET Wall Street Journal SÃO PAULO—The Brazilian real reached its weakest level since 2004 in midday trading Thursday as concerns... Continue Reading →
Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe
Heated Exchanges as Brazilian Lawmakers Start Petrobras Probe By Juan Pablo Spinetto 1:22 PM BRT March 5, 2015 (Bloomberg) -- Shouting and finger-pointing between lawmakers marked the opening of Congress’s latest probe of corruption allegations at Brazil’s state-controlled oil company. Lawmakers raised their voices and yelled accusations as they argued over the creation of... Continue Reading →
Petrobras New Board Member Confident on Audited Results
Petrobras New Board Member Confident on Audited Results By Sabrina Valle 12:41 PM BRT March 5, 2015 (Bloomberg) -- Petroleo Brasileiro SA is on track to quantify a graft-related writedown needed to release audited financial results and restore investor confidence, according to the most recent appointee to the offshore producer’s board. Luiz Navarro, a lawyer... Continue Reading →
Seadrill Braces for Two More Years of Rig Market Pain
Seadrill Braces for Two More Years of Rig Market Pain byMikael Holter 12:15 PM BRT March 4, 2015 Employees work on a Seadrill Ltd. semi-submersible drilling rig under construction in the dry dock at a shipyard, in Yeongam, South Korea. Photographer: SeongJoon Cho/Bloomberg (Bloomberg) -- Seadrill Ltd., the offshore oil driller controlled by billionaire... Continue Reading →
Brazil Energy Insight 