Brazil’s Petrobras Increases Market Value by US$23.35 Billion

Brazil’s Petrobras Increases Market Value by US$23.35 Billion

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The oil giant Petrobras in Brazil has risen six positions and is now the fourth largest oil company in Latin America and the U.S. in terms of market value at US$49.29 billion, according to consultancy firm Economatica. The survey lists Exxon Mobil remaining as […]

Brazil’s Petrobras Sells Chilean Distribution Subsidiary

Brazil’s Petrobras Sells Chilean Distribution Subsidiary

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Moving forward with its divestment plan and Petrobras officials announced last week the sale of its Chilean subsidiary, PCD, to private equity firm Southern Cross Group for more than US$460 million. PCD is a fuel distribution company in Chile with 279 gas stations, eight distribution […]

Brazil’s Petrobras Allowed to Halt Oil Production in 16 Platforms

Brazil’s Petrobras Allowed to Halt Oil Production in 16 Platforms

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The ANP (National Petroleum, Natural Gas and Biofuel Agency) in Brazil has authorized oil giant, Petrobras to interrupt its oil production in sixteen platforms and fourteen concessions due to the decline of international oil prices, the devaluation of the Brazilian real and the loss of […]

Brazil’s Petrobras Registers Best June Production in History

Brazil’s Petrobras Registers Best June Production in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian oil giant, Petrobras, registered the best June on record for the production of oil and natural gas, totaling 2.9 million barrels per day, according to the state-controlled company. According to Petrobras, June’s results are over two percent greater than that registered during the […]

Brazilian Prosecutors File Suit Against House Speaker

Brazilian Prosecutors File Suit Against House Speaker

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian federal prosecutors investigating the Lava Jato (Carwash) mega-corruption scandal have asked a federal court to revoke suspended Chamber Speaker Eduardo Cunha’s political rights for ten years, in addition to demanding the return of approximately R$20 million in assets he has abroad but did […]

Brazil’s Interim President Temer Bars Political Appointees

Brazil’s Interim President Temer Bars Political Appointees

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The interim president of Brazil, Michel Temer, vows the country will not appoint any more directors or presidents of state-controlled entities until a law is passed that requires positions to be filled with technocrats and not political nominations. “We have halted any appointment to the […]

Brazil’s Petrobras May Pay Billions in U.S. Class Action Case

Brazil’s Petrobras May Pay Billions in U.S. Class Action Case

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A class action suit filed in the United States on behalf of stock investors at the New York Stock Exchange may yield ‘tens of billions of dollars’ for the plaintiffs, a bigger settlement than that awarded to Enron plaintiffs, of US$7.2 billion, say economic analysts. […]

Petrobras’ CEO Seeks to Recover Company’s Credibility

Petrobras’ CEO Seeks to Recover Company’s Credibility

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras’ new president, Pedro Parente, said on Thursday, June 2nd, during his swearing in ceremony that to improve the company’s performance, the oil giant needs to restore its credibility and recover its economic, financial and social responsibilities. The new CEO also said he supports the […]

Second Cabinet Member Resigns in Brazil Amidst Scandal

Second Cabinet Member Resigns in Brazil Amidst Scandal

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The transparency minister in Brazil, Fabiano Silveira, resigned Monday after recorded conversations showed him criticizing the mega-corruption Lava Jato (Carwash) inquiries and giving advice to those being investigated. Silveira was dubbed by many in the government as interim president Michel Temer’s anti-corruption minister. Silveira is […]

Brazil’s Senate President Caught in Dubious Conversation

Brazil’s Senate President Caught in Dubious Conversation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Days after Brazilian Planning Minister, Romero Jucá, stepped down under suspicion of trying to limit investigations on mega-corruption scandal Lava-Jato (Carwash), another recording has implicated other, high-level officials in the scheme. Recorded conversations between Sergio Machado, the ex-president of Transpetro, and Senate president Renan Calheiros […]

1 2 3 24