Brazil’s economy will emerge from its worst recession on record in the first quarter of this year, Finance Minister Henrique Meirelles said in an interview with Bloomberg News and TV. Latin America’s largest economy is estimated to have grown 0.5 percent to 0.7 percent quarter-on-quarter in the three months ending in March, Meirelles said in... Continue Reading →
Economists see Brazil as too optimistic about pension reform changes
The latest draft bill for Brazil's landmark pension reform is substantially weaker than the original proposal and will probably force the government to take additional austerity measures, economists said on Thursday. Changes made on Tuesday by the bill's sponsor after talks with party leaders and government officials are likely to reduce savings from the bill... Continue Reading →
Dominican Republic ratifies terms of Odebrecht’s $184 million plea deal
A judge in the Dominican Republic on Wednesday approved terms of a $184 million fine on Odebrecht SA [ODBES.UL], which sought a plea deal after admitting to bribing officials to win contracts in the country. Dominican Attorney General Jean Rodriguez called the ruling by Judge Danilo Quevedo "a momentous step forward in the fight against... Continue Reading →
Brazil port M&A frenzy proves not cheap for MSC, Dubai World
Dubai Ports World Co and MSC Mediterranean Shipping Co SA are seizing on Brazil's three-year-long recession and rising debt levels among local port operators to bid for marine terminals in one of the world's top commodity exporters. But their plan will not come cheap. Half of the 12 terminal and port sales negotiated in Brazil... Continue Reading →
Damaged CHC helicopter removed from rig off Brazil following crash landing
Following a “rough landing” by the helicopter owned by CHC’s Brazilian unit, BHS, a video emerged this week showing its landing on the rig’s helideck. The rig is located in the Santos Basin, in the Búzios field offshore Brazil. In an e-mailed statement to Offshore Energy Today on Tuesday, a CHC spokesperson confirmed that the Sikorsky... Continue Reading →
Siem Helix 1 Commences Operations in Brazil – Press Release
April 19, 2017 05:00 PM Eastern Daylight Time HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that the Siem Helix 1 has commenced operations offshore Brazil and is on contract for Petroleo Brasileiro S.A. The vessel will be performing well intervention services under a multi-year contract with Petrobras. We have agreed with... Continue Reading →
TechnipFMC and DOF Subsea announce the delivery of Skandi Búzios and commencement of contract with Petrobras
TechnipFMC (NYSE and Euronext: FTI) and DOF Subsea (DOF) announce that the Skandi Búzios, a pipelay support vessel (PLSV) owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petróleo Brasileiro S.A. (Petrobras), as scheduled on April 13th, 2017. Skandi Búzios is the sistership of the Skandi Açu, which... Continue Reading →
Petrobras opposes Brazil plan to boost biofuels after selloff
Brazil's state-controlled oil company Petróleo Brasileiro SA has expressed strong opposition to a government-led program to increase the use of biofuels following its recent decision to completely withdraw from the sector. In a document the energy ministry posted on its website, the company known as Petrobras said it was worried about the impact of more... Continue Reading →
China’s HNA nears deal to buy Odebrecht’s Brazil airport stake
HNA Airport Holding Group Co Ltd is close to buying out the stake that engineering conglomerate Odebrecht SA has in Brazil's second-busiest international airport, a person briefed on the matter said on Monday, partly solving an impasse with a government agency over licensing rights. The Chinese company, which is part of HNA Group Co Ltd,... Continue Reading →
Brazil waters down pension reform as protests turn violent
Brazil's President Michel Temer on Tuesday made new concessions to ease passage of an unpopular pension reform bill that has drawn angry demonstrations from labor organizations, including police unions that tried to invade Congress in protest. The watered-down proposal, which has faced pressure from skittish lawmakers, has raised doubts among investors about the full fiscal... Continue Reading →
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