A backlash in Brazil over plea and leniency deals with the billionaire family that controls meatpacker JBS SA has led prosecutors to start discussions on creating clearer rules for future agreements to ensure equal treatment, three people familiar with the matter said. The talks over a "basic set of patterns and parameters" to negotiate fines... Continue Reading →

More than 99% of the votes cast by Baker Hughes stockholders on Friday were in favor of the previously announced combination of Baker Hughes with General Electric Company’s oil and gas business (GE Oil & Gas). The combination will create Baker Hughes, a GE company, which will be traded on the New York Stock Exchange (NYSE) under the ticker symbol “BHGE”.... Continue Reading →

Brazilian diesel imports surged 60 percent to hit a record high in the year to May compared with the same period last year, even as domestic sales slid, Brazil's oil and fuels watchdog ANP said. In the first five months of the year, diesel imports hit 4.44 billion liters, ANP said on Friday, while domestic... Continue Reading →

Mexican state oil company Pemex plans to choose a partner at the end of October to finish the development and operate a $2 billion coking plant at its Tula refinery, government and Pemex sources told Reuters. Pemex is looking for partners to improve the performance of its state-owned refineries, which currently process about 915,000 bpd... Continue Reading →

The federal government is expected to extend the benefit of the differentiated customs regime for the oil and gas sector, known as Repetro, to sub-suppliers of goods and services in Brazil, meeting a demand from the domestic industry, said the director of Exploration and Production of Oil and Gas Natural, João Vicente de Carvalho. According... Continue Reading →

Brazilian labor unions staged peaceful nationwide demonstrations against scandal-hit President Michel Temer on Friday, seeking to stop his unpopular administration from pushing through Congress changes to labor and pension laws. Protests were smaller than in a nationwide strike two months ago. Subway and bus services shut down in Brasilia, and small street demonstrations blocking roads... Continue Reading →

Dresser-Rand, a Siemens Group equipment manufacturer, is betting on the resumption of the Brazilian oil and gas sector and is seeking new contracts for its Brazilian plant, after completing the delivery of one of its largest projects to Petrobras at the beginning of this year. Despite the recent easing of local content rules, which has... Continue Reading →

It's hard to catch a breath in Brazil. Just the other day President Michel Temer dodged a brick, surviving potentially job-ending charges in electoral court that he'd won his mandate with dirty campaign money. Political bulls promptly declared Temer a survivor who would not only salvage vital political and economic reforms but also tough out his beleaguered... Continue Reading →