Former Petrobras CEO Testifies Before Brazilian Congress

Former Petrobras CEO Testifies Before Brazilian Congress

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s former Petrobras CEO, Maria das Graças Foster, told a Congressional committee on Thursday (March 26th) that she felt ashamed about the widespread corruption scandal that has engulfed one of the country’s largest companies, but reiterated that she knew nothing about the bribes-for-contracts scheme. During […]

Brazil’s Petrobras Pre-Salt Clusters Set Record Production

Brazil’s Petrobras Pre-Salt Clusters Set Record Production

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite the fallout from the on-going corruption scandal which has tarnished Brazil’s largest state-controlled company, Petrobras, the oil giant announced on Thursday, March 19th, that the output from the Santos and Campos basin pre-salt clusters reached record levels in February. According to a press release, […]

Brazil’s President Announces Anti-Corruption Measures

Brazil’s President Announces Anti-Corruption Measures

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s President Dilma Rousseff announced on Wednesday, March 18th, anti-corruption measures which she says will inhibit and punish irregularities in the public administration. According to the President these measures will go a long way to curbing widespread corruption which have tainted and weakened her administration. […]

Dow Jones Removes Brazil’s Petrobras From Sustainability Index

Dow Jones Removes Brazil’s Petrobras From Sustainability Index

By Lise Alves, Senior Contributing Editor SÃO PAULO, BRAZIL – Dow Jones has announced that Brazil’s oil giant Petrobras is no longer a part of its Dow Jones Sustainability World Index (DJSI World). The reason for the removal of the Brazilian company from the index is the widespread corruption scandal known as Operação Lava Jato […]

Thousands of Pro-Government Supporters March in Brazil

Thousands of Pro-Government Supporters March in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Thousands of pro-government backers took to the streets on Friday in Brazil to show their support for President Dilma Rousseff’s administration as well as state-owned oil giant Petrobras. Marches entitled ‘National Day of the Struggle in Defense of Workers’ Rights, of Democracy, of Petrobras and […]

Protests Against President Rousseff Announced for Sunday in Brazil

Protests Against President Rousseff Announced for Sunday in Brazil

By Lisa Flueckiger, Contributing Reporter RIO DE JANEIRO, BRAZIL – A combination of facts discovered in Operation Lava Jato (car wash) regarding a huge money laundering scandal in Brazil involving oil giant Petrobras together with a weak economy, have led the support for Brazilian President Dilma Rousseff plummet. Now, a new protest wave has been […]

Brazil’s Petrobras to Sell US$13.7 Billion in Assets

Brazil’s Petrobras to Sell US$13.7 Billion in Assets

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras, Brazil’s state-led oil giant, announced that it has approved a plan to sell assets worth US$13.7 billion in 2015 and 2016 in order to cut costs and reduce its debts. The company is currently involved in a large-scale corruption scandal and has seen its […]

Brazil’s Real Falls Due to Weakening Economy

Brazil’s Real Falls Due to Weakening Economy

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s currency, the real, fell to its weakest level against the U.S. dollar since 2005 in February this year and according to an international economic consultancy group the reason is not the current corruption scandals at oil giant Petrobras, but deteriorating economic fundamentals. According to […]

Brazil’s Petrobras Rating Downgraded to Junk Status

Brazil’s Petrobras Rating Downgraded to Junk Status

By Lisa Flueckiger, Contributing Reporter RIO DE JANEIRO, BRAZIL – International rating agency Moody’s has downgraded the rating of Brazil’s oil giant Petrobras to Ba2, two grades below investment grade status, on Tuesday February 24th. This is the second downgrading of the company in less than a month. Petrobras, currently involved in a large-scale corruption […]

Opinion: The Blame Game, a Bovine Smidgen

Opinion: The Blame Game, a Bovine Smidgen

Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – The media are having a field day with one of President Dilma’s recent remarks concerning the “bos sacrosanctus”. She recently insisted that the entire fault for the current “Petrolão” scandal can be laid at the feet of former President Fernando Henrique Cardoso. Why is FHC to […]

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