Federal Police Arrest Another Petrobras Director in Brazil

Federal Police Arrest Another Petrobras Director in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Federal Police in Brazil arrested former Petrobras director for the International Area as part of its on-going Lava Jato (Carwash Operation) operation yesterday (July 3rd). Officials say Jorge Zelada transferred more than €$11 million to Europe, money that authorities believe was part of the […]

Rio Governor Pezão Ensures Comperj Refinery Will Open

Rio Governor Pezão Ensures Comperj Refinery Will Open

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The governor of Rio de Janeiro, Luiz Fernando “Pezão” (Bigfoot), said yesterday (June 30th) that the troubled refinery, Petrochemical Complex of the State of Rio de Janeiro (Comperj), will be completed. In April O Globo reported Brazil’s state-run oil company Petrobras will lose at least […]

Lava Jato Operation Arrests High-Level Executives in Brazil

Lava Jato Operation Arrests High-Level Executives in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Federal Police in Brazil issued warrant arrests for twelve suspects in the 14th phase of the mega bribery and corruption scheme known as Operação Lava Jato (Carwash Operation). Among those arrested early Friday morning were the owner and president of Odebrecht and the president […]

Lava Jato Scheme Affects Brazil’s Ship-Building Industry

Lava Jato Scheme Affects Brazil’s Ship-Building Industry

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The impacts of the billion-dollar corruption scheme involving Brazil’s oil giant Petrobras and disclosed by the country’s Federal Police in 2014 have reached to the country’s ship building industry. According to officials at the Brazilian Naval Construction and Repair Industry and Offshore Union (Sinaval), the […]

Petrobras of Brazil Announces Losses of US$17 Billion in 2014

Petrobras of Brazil Announces Losses of US$17 Billion in 2014

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The oil giant of Brazil, Petrobras, released on Wednesday night its net result for 2014, which was negative by over US$7 billion. Company officials also announced that corruption, bribes and devaluation of assets (impairment) cost the company over US$17 billion last year. According to Petrobras […]

Ruling Party Treasurer Arrested in Corruption Scandal in Brazil

Ruling Party Treasurer Arrested in Corruption Scandal in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The treasurer of Brazil’s ruling party, the PT (Workers Party) was arrested on Wednesday morning by the Federal Police. João Vaccari Neto was arrested at his home in São Paulo as part of the on-going mega-corruption scandal Operação Lava Jato (Carwash Operation). Vaccari Neto is […]

Petrobras Signs Agreement with China’s Development Bank

Petrobras Signs Agreement with China’s Development Bank

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras announced on Wednesday, April 1st, that it has obtained a financing contract with China Development Bank (CDB) for US$3.5 billion to be disbursed during 2015 and 2016. According to analysts this financing credit is likely to relieve some of the financial pressure on Brazil’s […]

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. […]

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