Rousseff Labels Petrobras CPI a Political Dispute

Rousseff Labels Petrobras CPI a Political Dispute

By Maria Lopez Conde, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian President Dilma Rouseff deemed the opposition’s efforts to establish a Parliamentary Commission of Inquiry (CPI) into alleged irregularities at state-controlled Petrobras a “political dispute” this Monday, April 7th. At a speech in Minas Gerais, Rousseff discarded the claims that she approved of the […]

Chevron Facing Revived Charges Over 2011 Brazil Oil Leak

Chevron Facing Revived Charges Over 2011 Brazil Oil Leak

By Eduardo Pagnoncelli, Contributing Reporter RIO DE JANEIRO, BRAZIL – Chevron Corporation confirmed on Friday that a Brazilian appeals court has reinstated criminal charges against the energy giant and eleven of its employees, originating from a 2011 offshore oil spill near Rio de Janeiro, that also led to a reported R$95 million civil settlement by […]

Opinion: The Curmudgeon on “Straining out Gnats”

Opinion: The Curmudgeon on “Straining out Gnats”

Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – The Curmudgeon quotes Matthew 23:23-24: “Woe to you, scribes and Pharisees, hypocrites! [Y]ou have overlooked … justice, mercy and good faith. Blind guides! You strain out a gnat, yet swallow a camel!” The Curmudgeon has long believed that today’s Brazilian Congress is almost entirely composed of […]

Rousseff Involved in Petrobras Case: Daily

Rousseff Involved in Petrobras Case: Daily

By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s federal government has organized a strategy to shield President Dilma Rousseff from her involvement in the 2006 approval of the allegedly fraudulent purchase of half of an American refinery by state-controlled Petrobras when she headed the oil giant. The Palácio do Planalto – the […]

Petrobras Probed Over Bribery Claims: Daily

Petrobras Probed Over Bribery Claims: Daily

By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian state-controlled oil company Petrobras is under investigation by the country’s federal police after claims that the oil giant accepted US$139 million in bribes from the Dutch company SBM Offshore during contract negotiations for floating oil platforms surfaced. Petrobras already began its own internal investigation […]

Petrobras Bond Initiative Reaps US$8.5B: Daily

Petrobras Bond Initiative Reaps US$8.5B: Daily

By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL – According to market sources Brazilian oil giants Petrobras attracted US$22 billion worth of interest and sold US$8.5 billion in a new bond offer. The new multi-billion dollar six-part bond offering is the second of its kind which previously drew US$11 billion in May last year. […]

Opinion: The Curmudgeon on the Failure of Democracy

Opinion: The Curmudgeon on the Failure of Democracy

Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – “Venezuela is not Ukraine,” quoth Brazil’s President Dilma Rousseff recently, and in a technical sense, she’s certainly right. There is no secessionist movement in the provinces which are not controlled by the government, and there is no foreign power invading Venezuelan territory. Yet there are certainly […]

Refinery Fire May Affect Diesel and Gasoline Production

Refinery Fire May Affect Diesel and Gasoline Production

By Joanna Hansford, Contributing Reporter RIO DE JANEIRO, BRAZIL – Reduc, one of the principal units of state petroleum production, in Duque da Caxias, Rio de Janeiro state, caught fire Saturday (January 4th) and has brought concerns that the output will significantly reduced. As Reduc provides ten percent of Brazil’s refining capacity, there is speculation […]

Petrobras Announces Fuel Price Hike in Brazil: Daily

Petrobras Announces Fuel Price Hike in Brazil: Daily

By Chesney Hearst, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Petrobras announced last Friday, November 29th, that the state-controlled oil company would be increasing fuel prices for the third time this year. The price hikes, which went into effect over the weekend, will represent four percent for gasoline and eight percent for diesel, and […]

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