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Tag Archives: Brazil

Former Brazil energy minister new CEO at troubled Petrobras

Petrobras, energy minister

RIO DE JANEIRO (AP) — Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa. Parente served ...

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Indigenous group asks Brazil to stop financing mega-projects

RIO DE JANEIRO (AP) — A group representing Amazon indigenous people urged Brazil’s National Development Bank on Wednesday to stop financing projects that cause environmental damage. After meeting with bank representatives, leaders of the Ecuador-based group known as the Coordinator of Indigenous Organizations of the Amazon Basin said in a statement that they also asked the bank to adopt policies ...

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Seized spreadsheets list payments to top Brazil politicians

Seized spreadsheets list payments to top Brazil politicians

RIO DE JANEIRO (AP) — In another stunning turn in the snowballing corruption investigation that is shaking Brazil, top newspapers on Wednesday released scans of dozens of spreadsheets seized by police listing what appeared to be payments by one of the country’s biggest companies to about 200 politicians, including code names and monetary values. The newspapers O Estado de S. ...

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Brazil’s Petrobras reports $10.2 billion quarterly loss

Brazil's Petrobras reports $10.2 billion quarterly loss

RIO DE JANEIRO (AP) — Brazil’s state-run oil company, Petrobras, reported a record quarterly loss of $10.2 billion Monday due to a large reduction in the value of some assets amid lower oil prices. Petrobras has been at the center of a sprawling corruption scandal that has ensnared some of Brazil’s most powerful lawmakers and business executives. The embattled company ...

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First LNG export to leave Sabine Pass

Cheniere Energy, Sabine Pass, LNG, exports, Brazil

American liquefied natural gas will soon hit the global market. The first cargo of LNG exported from the continental United States will leave Cheniere Energy’s Sabine Pass terminal Wednesday, according to a company executive. The tanker Asia Vision LNG will ship the fuel to Brazil, where it will be received by Petroleo Brasileiro SA, according to a Bloomberg report. While ...

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Brazil oil strike cuts output 25 percent, union says

RIO DE JANEIRO/SAO PAULO – A strike that began on Sunday at Brazil’s state-run oil producer Petroleo Brasileiro SA has slowed daily oil output by around 25 percent, the country’s largest union FUP said on Tuesday. FUP’s general coordinator José Maria Rangel said in a video published online that in the first 24 hours since the union’s members joined the ...

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Cheap oil requires companies to better plan in Brazil, ANP says

RIO DE JANEIRO – Current global oil prices should lead companies operating in Brazil to better plan their field developments, Magda Chambriard, president of oil industry watchdog ANP, said on Tuesday. “The actual price of a barrel of petroleum demands more dedication to planning in the industry, which means that this is the moment to improve operationally,” she said at ...

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