The DOJ and SEC and Petrobras, Brazil’s state-owned energy company, reached the largest settlement in the history of U.S. enforcement of the Foreign Corrupt Practices Act
Brazil
Petrobras Reaches $1.78 Billion FCPA Resolution
By Nicholas Berg, María González Calvet, David Peet & Eve Shabto | Ropes & Gray LLPSign up and get Breaking Energy news in your inbox.
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As Houston is still the epicenter of the Foreign Corrupt Practices Act (FCPA) enforcement world, it is probably not too surprising that the Petrobras scandal has reached the Lone Star state.
Energy News Roundup: Energy Futures Survives Again, Marajuana Draining Denver’s Grid & Brazil Turns To Ethanol
By Conor O'Sullivan
Energy Future Holdings Corp. has survived its latest legal bout with bondholders demanding some $431 million worth of premiums on billions of dollars in debt. “Round one was decided in the company’s favor in March, but that ruling left open the possibility that bondholders could persuade a judge to lift the automatic stay of bankruptcy… Keep reading →
Energy News Round Up: New Bilateral Climate Agreement, Rise Of Think-Tanks & Duke Award CEO
By Conor O'Sullivan
Barack Obama and Dilma Rousseff put climate change at the top of their agenda, with the US and Brazil agreeing to obtain up to 20% of their electricity from renewable power by 2030. “Brazil also committed to restoring up to 12m hectares of forest – an area about the size of England or Pennsylvania –… Keep reading →
Brazil’s federal government appears to be dedicating serious effort – at long last – to developing the country’s solar industry. Although Brazil has a population of nearly 200 million, it only has 42 MW of cumulative installed capacity. For the sake of comparison, that level of capacity is roughly on par with the state of… Keep reading →
Energy Quote of the Day: ‘The Lower Oil Price is Bringing More Deflationary Pressure’
By Edward Dodge
Cheaper oil has not been translating into economic growth over the last six months and falling oil prices have also stoked deflationary fears. Some countries have been using the drop in oil prices as an opportunity to raise gasoline taxes, slash fuel subsidies or both. China has raised fuel consumption taxes by 50% since November,… Keep reading →
Ed. note: This is a weekly column by Elie Mystal, Managing Editor of Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. UNDER-REGULATED The Mississippi River: The Mississippi river blew up yesterday. Okay, that’s not entirely accurate. A gas pipeline exploded… Keep reading →
Energy News Roundup: Petrobras Corruption Reaches Highest Levels, Venezuelan Economy Shutters & BMW Taking On Tesla?
By Jared Anderson
There is a saying in Brazil, “he who steals a little is a thief but he who steals a lot is a baron.” Apparently, executives at Brazilian oil giant Petrobras were stealing a lot. Corruption charges are turning the company upside down as investigators unravel kickback schemes and inflated construction budgets that involved some of the country’s largest firms.… Keep reading →
Ed. note: This is a new weekly column by Elie Mystal, Managing Editor of http://www.atlredline.com Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Gaseous Emissions: The Bureau of Land Management is trying to figure out whether to tax the venting and… Keep reading →
Energy News Roundup: Economy Giving Thanks for Low Gas Prices, Cardin Drafts RFS Reform Bill & SunEdison’s $30M Brazilian Expansion
By Jared Anderson
US gasoline prices are at their lowest level since 2009 – $2.81 per gallon according to AAA – which could boost the number of holiday travelers and shoppers. “That could mean what is typically the busiest travel day of the year in the United States could get even busier — AAA estimated that 46.3 million… Keep reading →
