Brazil’s CB Freezes R$47 Million in Assets from Lava Jato Scheme

Brazil’s CB Freezes R$47 Million in Assets from Lava Jato Scheme

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Central Bank of Brazil announced Thursday, November 20th, it has frozen more than R$47 million in assets from individuals and companies arrested last week in the Lava Jato (Carwash) money-laundering scheme involving Brazil’s oil giant, Petrobras. The measure had been requested by Federal Judge […]

Scandal Oveshadows Petrobras Record Production Results

Scandal Oveshadows Petrobras Record Production Results

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – What started out as a scheduled meeting by Petrobras officials to announce the company’s quarterly operational results turned into a teleconference to discuss the worst scandal ever faced by the oil giant and its impacts on the company and the market. Instead of talking about […]

Brazil Arrests Another 36 in Money-Laundering Operation

Brazil Arrests Another 36 in Money-Laundering Operation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s federal police started Friday morning (November 14th) enforcing 36 arrest warrants and 49 search and seizure orders in the cities of Paraná, São Paulo, Rio de Janeiro, Minas Gerais, Pernambuco, and Brasilia, as part of the on-going investigations into a multi-million reais money-laundering scheme […]

Opinion: A Smidgen on the Easy Life

Opinion: A Smidgen on the Easy Life

Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – Yesterday’s news is that the Lava-Jato (“Car Wash”) investigation being carried out by the Federal Police has resulted in the arrest and interrogation of dozens of executives of HUGE construction companies, all of which had HUGE contracts (billions) with Petrobras, and all of which were HUGE […]

Officials in Brazil Ask SBM For Help in Bribery Investigation

Officials in Brazil Ask SBM For Help in Bribery Investigation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s Corregedoria Geral da União – CGU, (Comptroller General’s Office), filed an inquiry against Netherland’s SBM Offshore NV for bribery allegations, but hopes the company will help the South American country in its investigation involving its oil giant, Petrobras. “Based on results of the partial […]

Petrobras Increases Prices of Gasoline, Diesel Fuel at Refineries

Petrobras Increases Prices of Gasoline, Diesel Fuel at Refineries

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras announced Thursday afternoon an increase in gasoline and diesel prices. According to the state-controlled petroleum giant prices of gasoline at refineries increased by three percent, while prices of diesel oil went up by five percent. The increases went into effect at midnight on Friday, […]

Brazil’s Stock Market Tumbles With Rousseff Re-Election

Brazil’s Stock Market Tumbles With Rousseff Re-Election

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s stock market (Bovespa) tumbled on Monday, as the financial market reacted negatively to the re-election of incumbent president Dilma Rousseff on Sunday, falling by as much as 6.18 percent during the morning trading hours and closing down by 2.77 percent, at 50,503 points. “The […]

Petrobras Executive Refuses to Testify Before Congress: Daily

Petrobras Executive Refuses to Testify Before Congress: Daily

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Former Petrobras director, Paulo Roberto Costa, sat for almost three hours in front of a Congressional Committee created to investigate corruption allegations within the state-controlled petroleum giant and said nothing. “I have nothing to declare,” said Costa over eighteen times to Senators and Chamber Representatives […]

Petrobras Kickback Scandal Shakes Up Presidential Race

Petrobras Kickback Scandal Shakes Up Presidential Race

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – With less than a month to go before Brazil’s Presidential elections, illegal kickback accusations made by a former Petrobras director, Paulo Roberto Costa, are shaking up the presidential race. Reportedly, Costa mentions more than thirty names, including politicians, congressmen, governors and state ministers, who he […]

Brazil Finance Minister Mantega Proposes 2015 Budget: Daily

Brazil Finance Minister Mantega Proposes 2015 Budget: Daily

By Chesney Hearst, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – On Thursday, August 28th, Brazilian government officials delivered the 2015 Brazilian budget draft, the Projeto de Lei Orçamentária Anual (PLOA) 2015, to Congress. Betting on economic improvements in Brazil and internationally during 2015, the proposal forecasts a three percent growth of Brazilian Gross Domestic […]

1 2 3 16