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WORLD NEWS Brazil Graft Case Sets Back Economy Corruption Scandal at Petróleo Brasileiro Is Weighing on Some Key Brazilian Business Sectors Activists protesting against Petrobras in Rio de Janeiro last month. PHOTO: AGENCE FRANCE PRESSE/GETTY IMAGES By MARLA DICKERSON and ROGERIO JELMAYER Feb. 1, 2015 12:32 p.m. ET SÃO PAULO—A corruption scandal at state-controlled Petróleo Brasileiro SA has created... Continue Reading →
Fitch Joins Moody’s in Cutting Petrobras Rating to Cusp of Junk byJulia Leite 4:45 PM BRST February 3, 2015 (Bloomberg) -- - Petroleo Brasileiro SA’s credit rating was cut to the cusp of junk by Fitch Ratings after the company at the center of Brazil’s largest-ever corruption probe wasn’t able to account for the financial... Continue Reading →
Petrobras Still Breaching Debt Rules, Aurelius Tells Bondholders byKatia Porzecanski 8:55 PM BRST February 2, 2015 (Bloomberg) -- Aurelius Capital Management LP said Petroleo Brasileiro SA remains in violation of bond terms and creditors should notify the oil producer that the infraction will constitute a default if it isn’t resolved within 60 days. Petrobras... Continue Reading →
BG Pays $71 Million for Local-Content Breaches in Brazil Facebook Twitter Instagram Youtube bySabrina Valle 12:57 PM BRST February 3, 2015 (Bloomberg) -- BG Group Plc, the U.K.’s third-largest natural-gas producer, paid 192.5 million reais ($71 million) in fines in Brazil for breaching local-content rules at an offshore project where it didn’t find commercial volumes of... Continue Reading →
Shares of Brazil’s Petrobras Jump Brazil President Dilma Rousseff , right, greets Chief Executive Officer of Brazil's state oil company Petrobras Maria das Gracas Silva Foster during a ceremony in December 2013. PHOTO: REUTERS By LUCIANA MAGALHAES And PAUL KIERNAN Feb. 3, 2015 11:16 a.m. ET SÃO PAULO—Shares of Brazilian state-controlled oil giant Petróleo Brasileiro SA shot up as much... Continue Reading →
LATIN AMERICA NEWS Petrobras CEO and 5 Other Executives Resign Chief Executive Maria das Gracas Foster Has Been Pressured for Months to Resign Amid Scandal Petrobras Chief Executive Maria das Gracas Silva Foster is seen arriving at the Brasilia international airport after meeting with President Dilma Rousseff Tuesday. The company informed Brazil’s stock market regulator... Continue Reading →
Help Wanted: Petrobras CEO With Bulletproof Integrity Facebook Twitter Instagram Youtube byAnna EdgertonFilipe Pacheco 2:27 PM BRST February 4, 2015 (Bloomberg) -- HELP WANTED: Chief executive officer to lead multinational oil company. Strong background in capital markets required. Experience with a global brand a plus. Unassailable integrity. Deep political insiders need not apply. The resignation of Maria... Continue Reading →
February 4, 2015 4:08 pm Petrobras: Timeline of a scandal John Aglionby Maria das Graças Foster, the embattled head of Petrobras, and five other executives have resigned over the corruption scandal enveloping the Brazilian state-owned oil group. Here is a timeline of the corruption crisis that is ricocheting into the rest of the economy. 2003-10 ©Reuters Dilma Rousseff... Continue Reading →
February 4, 2015 6:06 pm Brazilian government scrambles to find new leader for Petrobras Samantha Pearson and Joe Leahy in São Paulo ©Bloomberg Wanted: new chief executive for the world’s most indebted oil company, currently under investigation for its role in the largest corruption scandal in Brazilian history. The resignation on Wednesday of Petrobras’ top... Continue Reading →
Petrobras All latest updates Trouble at the top Sacking the boss will not fix the problems at Brazil’s oil giant Feb 4th 2015 | SÃO PAULO | Business and finance PETROBRAS used to wow the oil world with its expertise at tapping the black stuff thousands of metres beneath the ocean floor. Now Brazil’s oil behemoth is better known... Continue Reading →
Brazil Energy Insight 