Norwegian exploration and production company Aker BP more than doubled its second quarter 2017 production and revenues, compared to last year’s quarterly result, due to inclusion of BP Norge’s activities. To remind, Aker BP was formed in September 2016 through a merger between Det norske oljeselskap and BP Norge. In its quarterly financial report on Friday,... Continue Reading →
Brazil congressional panel votes against putting Temer on trial
A Brazilian congressional committee on Thursday voted against sending a corruption charge against President Michel Temer to the Supreme Court for the leader to be put on trial. The vote is non-binding and the full house must still vote on the charge, which would only be approved if two-thirds of legislators vote for it. Read... Continue Reading →
China’s HNA buys Odebrecht stake in Rio Airport for $19 million
The transport unit of Odebrecht SA, the Brazilian conglomerate at the heart of a global graft scandal, has concluded the sale of a stake in Rio de Janeiro international airport to China's HNA Infrastructure Co Ltd (0357.HK) for $19 million, the companies said on Thursday. The stake was the equivalent of 30 percent in the... Continue Reading →
Brazil’s Lula vows to appeal conviction, run for president
SAO PAULO (Reuters) - Former Brazilian President Luiz Inacio Lula da Silva vowed on Thursday to appeal his conviction on corruption charges and run for president next year, calling the case against him a politicized effort to influence the 2018 election. "They haven't taken me out of the game," Lula told supporters at the headquarters... Continue Reading →
Wall Street Cheers as Brazil Judge Cripples Lula’s Comeback
Traders couldn’t be happier with the latest casualty in Brazil’s largest-ever corruption probe -- former President Luiz Inacio Lula da Silva. That’s because the chances for the populist leader to stage a comeback in next year’s presidential race are drastically reduced after the lead judge in the so-called Carwash investigation sentenced him to nine and a... Continue Reading →
Aker Solutions profit sinks amid market slowdown
Norwegian oil services company Aker Solutions saw a decrease in its second quarter 2017 profit and revenues amid market slowdown. For the second quarter of 2017, Aker Solutions on Wednesday posted a profit of NOK 33 million ($4 million), which dropped from a profit of NOK 131 million ($15.9 million) in the corresponding quarter of last year.... Continue Reading →
Brazil’s Temer Has the Votes to Crush Corruption Charges
Brazil President Michel Temer has the support to defeat a congressional motion that would put him on trial for alleged corruption, according to a tally of voter intentions compiled by Bloomberg. The request to try Temer is expected to be up for both a lower house committee and a floor vote as early as this... Continue Reading →
Brazil’s Lula Sentenced to Prison on Corruption Charges
Brazil’s former President Luiz Inacio Lula da Silva was convicted of graft and money-laundering for his part in the country’s sweeping corruption scandal, potentially removing him from the political scene just as his prospects of returning to the presidency were gaining momentum. Sergio Moro, the lead judge in the multi-billion dollar corruption probe known as... Continue Reading →
Mexico Oil Privatization Pays Off With Billion-Barrel Find
Mexico’s decision to allow private companies to explore for oil and gas started to pay off after the discovery of at least a billion barrels in a new offshore field. A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CV and Talos Energy LLC made the discovery in the shallow waters of... Continue Reading →
Brazil’s Senate approves labor overhaul by strong margin
BRASILIA (Reuters) - Brazil's Senate on Tuesday approved the country's first major overhaul of labor rules in seven decades in a crucial victory for beleaguered President Michel Temer as he seeks to pull the economy out of its worst ever recession. The bill, which modernizes some labor laws dating back to the 1940s, was passed... Continue Reading →
