Former Odebrecht Vicepresident Henrique Valladares, one of the main informants in the megacorruption scandal which links the Brazilian building firm with bribes involving top tier officials from governments all over Latin America, has been found lifeless in his Rio de Janeiro flat, it was reported. The cause of death is yet to be determined.
Brazilian authorities arrested a former energy minister’s son on Tuesday for allegedly receiving 50 million reais in bribes (US$ 12 million) together with his father, involving the construction of a giant dam.
Brazil's government is wrapping up a financing plan for Petrobras aimed at ensuring the scandal-hit state-controlled oil giant can obtain the funding it needs for its massive investment program.
A jailed former executive at state-controlled oil giant Petrobras Paulo Roberto Costa has reportedly implicated dozens of politicians from Brazil's leading political parties in a kickback scheme, a legal development that could shake up next month's general election.
Petrobras CEO Maria das Gracas Foster described as ‘simply exceptional’ the latest discovery of hydrocarbons off the coast of the north-eastern state of Sergipe on the Atlantic but declined to give further details of the prospect. Even when the Brazilian administration has abstained from making any announcement the Sergipe government has said “it is the largest oil discovery in the world this year”.
Canada spied on communications at Brazil's Mining and Energy Ministry, according to Canadian intelligence documents revealed Sunday by Globo television. The documents were leaked by former US intelligence contractor Edward Snowden.
Brazil’s government is planning to give a boost to state-run oil company Petróleo Brasileiro by financing its participation in the October 21 auction of Libra, the country’s largest-ever oil discovery, the O Estado de Sao Paulo newspaper reported over the weekend.
BP and Total, Europe’s biggest oil companies after Shell, won exploration rights in the Amazon basin as Brazil’s first oil auction in five years attracts a record level of bids. Total, based in Paris, gained exploration access to operate five blocks at the Foz do Amazonas basin in northern Brazil together with partners BP and Petrobras, the oil regulator said on Tuesday.
The Brazilian government has come to the rescue of the sugar-ethanol industry announcing that as of next May first the mandatory content of ethanol in gasoline will increase from 20% to 25%, taxes on the sugar-cane fuel will be eliminated and there will be soft loans to keep expansion going.
Brazil's Dilma Roussef has approved the auctioning of new oil concessions next year, subject to congressional approval of a new royalties law, authorities said. The 11th auction outside the pre-salt next May would involve 74 oil blocks, half at sea and half on land.