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 […]

Brazil’s New Planning Minister Steps Down Amidst Scandal

Brazil’s New Planning Minister Steps Down Amidst Scandal

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The new interim government in Brazil was shaken early Monday morning with the release of a recording where Planning Minister, Romero Jucá, allegedly tells a colleague that impeachment proceedings against President Dilma Rousseff are necessary so as to limit investigations on the Lava Jato (Carwash) […]

Brazil’s Interim Government Replaces Petrobras President

Brazil’s Interim Government Replaces Petrobras President

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The new interim government of Brazil announced on Thursday it is replacing the president of Petrobras. Former Energy Minister in the Cardoso Administration, Pedro Parente will replace Aldemir Bendine at the country’s state-run oil giant, the epicenter of a mega corruption scandal which has rocked […]

ANP Says Brazil Pre-Salt Production Increases Six Percent

ANP Says Brazil Pre-Salt Production Increases Six Percent

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The National Agency of Petroleum (ANP), reported yesterday, April 4th, that the production of oil and gas in the pre-salt fields recorded an increase of six percent in February, compared with the previous month. This was just days after the organization announced they are planning […]

Brazil’s Petrobras Registers Highest Net Loss in History

Brazil’s Petrobras Registers Highest Net Loss in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Oil giant of Brazil, Petrobras, announced on Monday its net loss for 2015 was R$34.8 billion, the largest in the company’s history. According to officials, the losses were due to the decline in oil prices around the world, the depreciation of the Brazilian currency and […]

Lava Jato Case in Brazil Retrieves Billions in First Two Years

Lava Jato Case in Brazil Retrieves Billions in First Two Years

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Two years after the start of the largest corruption investigations Brazil has ever witnessed, the Lava Jato (Carwash) has rendered 93 convictions and returned to the government more than R$2.9 billion worth of proceeds from bribes and money laundering. The Federal Public Ministry however requests […]

Lula Lawyers Appeal Police Search and Seizures in Brazil

Lula Lawyers Appeal Police Search and Seizures in Brazil

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Yesterday, March 8th, lawyers for the relatives of former President Luiz Inacio Lula da Silva (known as “Lula” in Brazil) appealed the court against the searches and seizures made by police last week, during the 24th stage of Operação Lava Jato (Carwash), a mega money […]

Brazil’s Senate Approves Reducing Petrobras Requirements

Brazil’s Senate Approves Reducing Petrobras Requirements

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – In addition to the on-going impeachment discussions in Congress and the Lava-Jato (Carwash) mega corruption scandal disrupting the economic and political scenario in Brasilia, this week President Rousseff’s PT party was also dealt a blow in the Senate, with the approval of a bill which […]

Brazil’s Government Defends Petrobras’ Pre-Salt Monopoly

Brazil’s Government Defends Petrobras’ Pre-Salt Monopoly

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Although media reports have hinted that President Rousseff’s government would be willing to review Petrobras’ exclusive role in exploring the country’s pre-salt oil reserves layers, Mines and Energy Minister, Eduardo Braga, emphasized on Tuesday that the government continues to defend the maintenance of the current […]

Brazilian Judge Halts Petrobras’ Gaspetro Sale to Japan’s Mitsui

Brazilian Judge Halts Petrobras’ Gaspetro Sale to Japan’s Mitsui

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A Brazilian federal judge has suspended the sale of 49 percent of Petrobras’ subsidiary, Gaspetro, to Japan’s Mitsui Brazilian subsidiary for R$1.93 billion (US$700 million). According to the law official, the operation closed at the end of December 2015 was not fully explained and transparent […]

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