VENTURE CAPITAL POST

Brazilian President Dilma Rousseff, dogged by a multibillion-dollar corruption scandal at state-run oil company Petrobras, vowed on Thursday to stamp out graft at the flagship firm and place it under strict corporate governance.

A widening corruption scandal at state-run oil company Petroleo Brasileiro SA may change the country forever, Brazilian President Dilma Rousseff said on Sunday in her first public remarks since a sweeping police operation last week.

Hedge fund manager Jim Chanos, the prominent short-seller, said Tuesday he has lightened up on some of his bets against Brazil, saying most of the country's downside risk is priced in after the sharp selloff over the past two months.

Tanzania has held talks with France's Total (TOTF.PA) and Britain's BP (BP.L) over oil and gas exploration, its energy ministry said on Saturday, aiming to add to major companies active in its thriving energy sector.

The S&P 500 posted its best day since August on Friday following a stronger-than-expected September U.S. jobs report that bolstered the outlook for the U.S. economy.

U.S. stocks fell on Tuesday as Apple (AAPL.O) shares declined and as bond yields hit their highest in a month on concerns the Federal Reserve could raise interest rates sooner than some investors had expected.

With its consortium, Petrobras leads to extract the oil from the Libra pre-salt mine.

In a bid to comply with the 2010 Brazilian oil law, the government has sought ways to provide assistance for Petrobras to comply with requirements.

Sources said the Oil & Natural Gas Corp (ONGC) would be buying a 12% stake in the Brazilian oil field owned by Petroleo Brasileiro (Petrobras).

Petrobras, in a campaign to raise funds for its pre-salt mine exploration, had sold some of its stakes and pipelines in Colombia.

Pertrobras sold oil assets to raise USD2 billion to finance five-year plan.

Grupo BTG purchases Petrobras oil interests in Africa.