Brazil’s government aims to release a privatization model for the country’s largest state-owned electric utility, Centrais Eletricas Brasileiras SA, this month, the mining and energy minister said on Tuesday. Read more

A merger between two UK oilfield services companies, Wood Group and Amec Foster Wheeler, is set to be complete next month as the UK’s competition watchdog, the Competition and Markets Authority (CMA), has accepted the duo’s proposals to resolve competition concerns regarding the merger.  The CMA began investigating the merger of the two companies in June 2017.... Continue Reading →

Rio de Janeiro, September 6, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it received on 9/4/2017, Official Letter No. 304/2017/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 304/2017/CVM/SEP/GEA-1 “Dear Sir, We refer to Official Letter no. 290/2017/CVM/SEP/GEA-1 and the communication to the market, filed via Empresas.net System, on 8/21/2017, in response to... Continue Reading →

Rio de Janeiro, September 08, 2017 - Petróleo Brasileiro S.A. – Petrobras, in continuity to the Material Fact disclosed on 7/28/2017, informs that deadline for signing the Confidentiality Agreement, in order to have access to technical, legal and financial information regarding the full sale of its exploration, development and production rights in seven sets of... Continue Reading →

Brazil's central bank has been unrelenting in its interest-rate cuts. It's too soon to ease up. With inflation tumbling, the economy still struggling and the country's political class mired in one graft accusation after another, Central Bank of Brazil Governor Ilan Goldfajn looks like the adult in the room. It's a mantle he may not... Continue Reading →

The world’s largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers’ oil and gas projects - investing in the same ventures it supplies with equipment and expertise. The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other Schlumberger units... Continue Reading →

U.S. ethanol producers will ask the Trump administration to intervene in a trade dispute with Brazil as tensions between the industry and foreign competitors continue to escalate. The Renewable Fuels Association, Growth Energy and the U.S. Grains Council -- all Washington-based lobbying organizations -- said in a statement Thursday that the government should “take immediate... Continue Reading →

Norwegian offshore shipping company Solstad Farstad has sold three of its anchor handlers to the Brazilian Navy in a deal worth approximately $24 million.  Norway’s newly-formed OSV provider has participated in a public auction in Brazil for the sale of three anchor handling tug and supply (AHTS) vessels to the Brazilian Navy, whereby the Brazilian... Continue Reading →

The former finance minister under Brazil’s Luiz Inacio Lula da Silva on Wednesday accused the ex-president of receiving bribes from contractor Odebrecht [ODBES.UL], adding to a list of corruption accusations that threaten Lula’s ability to run in 2018. Lawyers for former Finance Minister Antonio Palocci said he told prosecutors that Lula accepted Odebrecht’s purchase of... Continue Reading →

Brazil’s central bank slashed interest rates to a four-year low on Wednesday to spur an incipient economic recovery, but said the pace of monetary easing would probably be reduced next month as the bank prepared to gradually stop cutting rates. The bank’s nine-member monetary policy committee, known as Copom, cut its benchmark Selic rate BRCBMP=ECI... Continue Reading →