Rubicão S.A., associated with Banco Master, has made headlines by purchasing a 60% interest in an oil exploration field located in Itaparica, Bahia, last year. This acquisition marks a significant intersection between Daniel Vorcaro's banking enterprise and the oil and gas sector, revealing the financial maneuvers behind the scenes. The implications of such an investment hint at broader ambitions within the energy market amidst ongoing regulatory scrutiny in Brazil.

The firm Rubicão is said to belong to a fund called Hot Plasma, which in turn is under the umbrella of Alabaster fund. Both funds are reportedly established by Reag, recognized as Banco Master’s preferred partner in managing investment funds. Notably, Rubicão's manager, Luiz Antonio Lombardi, is associated with several other companies entangled in the network of Banco Master, drawing further attention to the interconnections among these entities. The complexities of these corporate structures pose questions about transparency and governance in Brazil’s financial sector.

This revelation comes at a time when Banco Central has identified one of the funds linked to this network, namely Sebastian, as fraudulent due to its intricate ties to three other funds. The investigation into these financial dealings underscores the cautious approach investors might take within the Brazilian oil sector, particularly given the emerging regulatory challenges. Attempts to reach Lombardi for comments went unanswered, leaving many questions regarding the broader implications of this acquisition unanswered.