While the Odebrecht Group is trying to avoid a way out of the liquidity crisis it faces, especially in its main construction arm, the oil and gas subsidiary works on an out-of-court settlement to settle the accounts with bondholders. The agreement is expected to be signed in two weeks. Negotiations with these creditors has been... Continue Reading →

Brazil's annual inflation rate in April likely eased to its lowest level in nearly 10 years, which could help prod the central bank to make another steep interest rate cut this month, a Reuters poll showed on Monday. The IPCA benchmark consumer price index was seen rising 4.10 percent in the 12 months through the... Continue Reading →

Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector. Building on the success of recent airport and power line auctions , President Michel Temer's government is hoping to add... Continue Reading →

May, 7,  2017 Two affiliates of Edison Chouest Offshore signed a five-year contract with Shell Brazil for construction, inspection, maintenance and underwater repair services. The agreement includes a varied list of projects servicing a construction and subsea installation vessel of Bram Offshore, a subsidiary of Edison Chouest. The contract also provides inspection services for C-Innovation,... Continue Reading →

05/05/2017 Prysmian in Brazil, a leading global company in cables and systems for the energy and telecommunications sectors, earned R $ 1.3 billion in the country in 2016 and obtained a net profit, before extraordinary effects, of R $ 61.7 million in year. Although sales volume fell by around 15% from one fiscal year to... Continue Reading →

A former top official of Brazilian construction giant Odebrecht SA testified that he was asked in 2014 to bribe the then-head of Mexican state oil firm Petróleos Mexicanos, according to a document filed with Brazil’s Supreme Court as part of a broader corruption investigation. In the document, a copy of which was reviewed by The Wall Street... Continue Reading →

Brazil's former President Luiz Inacio Lula da Silva had "complete knowledge" of the massive political kickback scheme that centered on contracts at state-run oil firm Petrobras, a former top executive testified on Friday. Former Petrobras (PETR4.SA) engineering and services director Renato Duque, testifying in the first of five corruption trials Lula faces, told a federal... Continue Reading →

Offshore driller Noble Corp. has reiterated its belief in long term-oil market fundamentals despite posting a loss of $302 million in the first quarter of the year on revenues of $363 million. The company said the loss would have been $42 million had it not been for a negative impact of non-cas discrete tax item... Continue Reading →