Petrobras

(Newser) - Oil tycoon Eike Batista was Brazil's richest man and the seventh richest man in the world in 2012, with a $35 billion fortune and sports cars parked in his living room, reports the Wall Street Journal . Then came his remarkable fall: A year later, he was overwhelmed by debt...

(Newser) - Brazil has just exacted a bit of diplomatic revenge over the news that the NSA was reading the emails of President Dilma Rousseff, other Brazilians, and the state oil company Petrobras. President Dilma Rousseff has made the rare decision to scrap a state visit to Washington planned for next month,...

(Newser) - Petrobras, Brazil’s state-owned oil company, today announced that important information had gone missing, and one Brazilian site says the data concerns two large, important new gas and oil finds, the Associated Press reports. The new fields are so large, Terra reports, that they could earn Brazil a seat with...

(Newser) - A huge offshore oil field found off the coast of Rio de Janeiro has the potential to make Brazil one of the world's top oil exporters, the AP reports. The Tupi field could hold 8 billion barrels, but it's very deep and will be difficult and expensive to drill. The...