Ohio attorney general files motion to join suit against Brazil’s Petrobras

February 9, 2015

Will Connors -WSJ, 2/9/2014

The attorney general from Ohio said Monday that his office has filed a motion on behalf of Ohio pensioners to join a lawsuit against Brazilian state-run oil firm Petrobras , alleging that the oil company at the center of a vast corruption scandal violated U.S. federal securities laws.

Petrobras is already facing more than a dozen class-action lawsuits in the U.S., including from the city of Providence, R.I., but the suit from Ohio’s pension fund appears to be the most serious legal threat yet to the company.

Ohio Attorney General Mike DeWine said in a statement that the motion has been filed on behalf of the Ohio Public Employee Retirement System, and that his office “has a responsibility to evaluate if companies and their executives are defrauding Ohio pensioners.”

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United States Subpoenas Brazil’s Petrobras

November 26, 2014

Adriana Gomez Licon – Associated Press, 11/25/2014

The United States Securities and Exchange Commission has subpoenaed documents in its investigation into corruption allegations at Petrobras, Brazil’s state-run oil giant said.

In a statement late Monday, Petrobras pledged to “cooperate with the United States public authorities with the same dedication it has been cooperating with Brazilian public authorities.” Petrobras acknowledged the documents requested were “related to an investigation into the company initiated by the SEC” and said the materials would be forwarded to the U.S. market regulator following consultations with the company’s U.S. and Brazilian attorneys. Brazil’s largest company had already hired two law firms, one local and the other based in the U.S., in order “to conduct an independent internal investigation,” the statement said.

Shares of the energy giant are traded on the New York Stock Exchange, which allows the SEC to conduct its own investigation into Brazil’s largest company, long considered a crucial motor for the country’s development.

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Biden to meet Rousseff as Brazil-U.S. ties begin to thaw

March 28, 2014

Brian Winter – Reuters, 3/28/2014

U.S. Vice President Joe Biden plans to meet withBrazil‘s leader when he attends the World Cup in June, an official with knowledge of the visit told Reuters, a sign that relations between the two countries are thawing after a fight over National Security Agency spying last year.

The meeting with President Dilma Rousseff is slated to take place in Brasilia, the capital, likely after Biden attends a still-undetermined game in the global football tournament, the official said on condition of anonymity.

A White House official declined to comment. A spokesman for Rousseff did not respond to a request for comment.

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Policy Brief: Pursuing a Productive Relationship Between the U.S. and Brazil

December 3, 2012

Paulo Sotero – Brazil Institute, November, 2012


blog do planalto

Converging economic interests are emerging as the principal driver of U.S.-Brazil relations. A reelected President Barack Obama and President Dilma Rousseff, at the half mark of her government, are confronted with daunting tasks. Both leaders need to scientifically improve the economics performance of their countries in the case of major political obstacles at home and an adverse economic outlook abroad. In both countries, sustainable growth will require investment in infrastructure, education, and innovation more than consumption. How they respond will determine the success or failure of their administrations. It will also affect the two countries’ bilateral relationship and their regional and global standing.

Continue reading the policy brief here…

Brazil sees steady ties with US after Obama re-election

November 8, 2012

Julia Carneiro – BBC, 11/08/2012

Brazilian President Dilma Rousseff was quick to react to the US election result.

Almost before Barack Obama’s victory was confirmed, she used a public event in Brasilia to send her warmest wishes to him and the US people.

And she would, she said, be calling him later to offer her congratulations.

But President Rousseff’s reaction seems to stem less from the hope of great things to come in the US-Brazil relationship than relief at the continuity in the White House.

In fact, even if Republican Mitt Romney had triumphed, analysts suggest relations between the two biggest countries in the Americas would have been little altered.

Ties grew stronger during George W Bush’s time in office and have matured under President Obama, although some tensions persist.

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Can Brazil meet US thirst for oil?

June 25, 2012

Simone Sebastian – Global Post, 6/25/2012

RIO DE JANEIRO, Brazil — Billions of barrels of oil lying beneath Brazil’s crystal waters are poised to help transform the Americas into the new Middle East.

Brazil’s national oil company, which uncovered the Western Hemisphere’s largest oil discovery in 30 years, has struggled to tap the gusher as quickly as planned.

When the wells start to flow, the man who manages the project’s finances knows where the crude is likely to go.

“The American consumer is our natural buyer,” he says.

Sitting in the Rio de Janeiro headquarters of Brazil’s national oil company, Petrobras Chief Financial Officer Almir Barbassa spoke soberly about the soaring plans that could turn Brazil into a global energy powerhouse.

Brazil believes its offshore oil will help double the nation’s reserves by the end of the decade, to 30 billion barrels.

Already, growing oil production in Brazil has fueled Petrobras’ rise. The publicly traded corporation is 51 percent owned by the national government. Forbes ranks it 10th on its list of largest public global companies, putting Petrobras in the same tier as General Electric and Royal Dutch Shell.

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Why Brazil signed a military agreement with the US

April 15, 2010

For the first time in three decades, the US and Brazil have a military agreement. Brazil is shopping for 36 new fighter jets, and the US is trying to counter growing Russian and Iranian influence in Latin America.

Sara Miller Llana and Andrew Downie-Christian Science Monitor, 04/15/10

The US and Brazil signed a military agreement Monday that both nations touted as an example of partnership and transparency in the Americas. The defense pact, the first between the two nations since 1977, opens the door to more interchange on research and development, logistics support, education and training, and the acquisition of defense products and services.

It comes as US Defense Secretary Robert Gates sets off on a tour of Latin America, including visits to Colombia, Peru, and the Caribbean – seen as part of a broader effort to strengthen ties with allies, as well as shore up support in a region that has embraced Iran and made increasing arms purchases from Russia.

But it’s perhaps Brazil, where Mr. Gates had originally planned to visit before a schedule change, which has the most to gain from the deal reached Monday. “Brazil is going to get recognition, and that is very important. Future wars are going to be as much about the management of information and intelligence as they are about armaments.

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