Keppel Corp., the world’s largest builder of oil rigs, reported a 41 percent decline in first-quarter profit as weak oil prices led to delivery delays of offshore projects. Net income dropped to S$211 million ($156 million) from S$360 million a year earlier, Keppel said in a statement Monday. Sales slumped 38 percent to S$1.7 billion... Continue Reading →
Historic Vote Grips Brazil With Rousseff Fight Down to Wire
The drive to impeach Brazilian President Dilma Rousseff is going down to the wire as lawmakers and protesters descend on the lower house of Congress this Sunday for a vote that looks too close to call. Protesters supporting the impeachment of Rousseff demonstrate outside Congress on April 17. Photographer: Andressa Anholete/AFP via Getty Images Peaceful... Continue Reading →
BRIEF-Skanska says Brazil files Petrobras probe-related lawsuit against Skanska
Apr 15, 2016 Reuters Skanska AB says: * In relation to investigations related to Petrobras, Federal Government in Brazil has brought a civil lawsuit against seven companies, including Skanska Brasil, and seven individuals unrelated to Skanska * According to the lawsuit a joint venture partner of Skanska Brasil has colluded with Petrobras directors and Skanska... Continue Reading →
Brazil Lawmakers Start Impeachment Session in Split Nation
Brazil’s lower house of Congress started a marathon session that will lead to a crucial impeachment vote on Sunday, following months of intense debate that has left Latin America’s largest nation deeply divided. The Supreme Court early Friday rejected a government motion trying to stop the session, paving the way for a vote that leading... Continue Reading →
Brazil’s Long-Silent Business Class Pines for an End to Drama
As Brazilian President Dilma Rousseff’s impeachment vote draws near, the top brass at the nation’s largest companies is beginning to break its silence. Most business executives see little advantage in publicly taking sides in a political battle, and enough twists and turns remain in the impeachment process to make the outcome unpredictable. That’s kept corporate... Continue Reading →
Halliburton, Baker Hughes in Talks to Sell Assets to Carlyle Group
By DANA MATTIOLI and RYAN DEZEMBER/WSJ Updated April 14, 2016 Private-equity firm Carlyle Group LP is in serious talks to buy a package of oilfield-services businesses from Halliburton Co. and Baker Hughes Inc. that could be valued at more than $7 billion, as the energy giants seek to overcome a Justice Department challenge to their planned... Continue Reading →
Brazilians Hope an End to Political Crisis Will Improve Battered Economy
Across town from where Brazilian lawmakers are deciding the fate of the country’s president this weekend, car dealer Felipe Bandeira sits in an empty show room lamenting the worst sales season he can remember. “Everybody is waiting to see what will happen on April 17,“ said Bandeira, who saw sales drop 40 percent this year... Continue Reading →
In Brazil’s corridors of power, mood swings against Rousseff
resident Dilma Rousseff's fate in an impeachment vote in Brazil's Congress on Sunday is being decided in deals struck at lunch tables and behind the mirrored windows of luxury hotels in Brasilia, where the tide has turned decisively against her. Rousseff's survival hinges on winning over a dwindling number of undecided lawmakers who are also... Continue Reading →
Exxon Says `$25 Billion Rule’ Will Sink Deepwater Oil Drilling
The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. The Obama administration is expected to issue the sweeping new regulations Thursday, a person familiar with the decision said, as part of... Continue Reading →
Brazil’s Real Leads World Losses After $12 Billion Intervention
Brazil’s real dropped the most among major currencies as the central bank stepped up efforts to weaken the currency as Brazilian assets rallied on renewed speculation that impeachment of President Dilma Rousseff is drawing closer. The central bank announced it would auction 80,000 foreign-exchange reverse swaps Wednesday, a move that’s equivalent to buying $4 billion... Continue Reading →
Brazil Energy Insight 