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 →

A Brazilian Senate committee has backed a bill to overhaul the country’s decades-old labor laws in a minor boost for the government of embattled President Michel Temer. The Constitution and Justice Committee voted 16 to 9 in favor of the proposal, which prioritizes direct negotiations between workers and employers. There was one abstention. The bill... Continue Reading →

Brazil's government on Thursday lowered its annual inflation target for the first time in more than a decade, cutting it from 4.5 percent to 4.25 percent in 2019 and 4.00 percent in 2020. The reduction had been widely expected by economists and investors, according to Reuters polls conducted since January. It follows a plunge in... Continue Reading →

  Nielmar de Oliveira - Agência Brasil Faced with expectations of rising fuel demand in the coming years, Brazil could consolidate  the position of net exporter of oil and net importer of derivatives, mainly diesel oil and aviation kerosene. The opinion is made by José Mauro Coelho, Director of Petroleum, Natural Gas and Biofuels Studies... Continue Reading →

June 27, 2017 Prumo announced two important deals with Siemens and BP for the sale of a stake in its wholly owned subsidiary Gás Natural Açu (GNA). In the case of the agreement signed with the German company, the agreement provides for exclusive negotiations and preliminary non-binding conditions for the acquisition of 33% of GNA's... Continue Reading →

Brazil's top federal prosecutor charged President Michel Temer with taking multimillion-dollar bribes on Monday in a stinging blow to the unpopular leader and to political stability in Latin America's largest country. Rodrigo Janot submitted the charge in a document presented to the Supreme Court, saying "he fooled Brazilian citizens" and owed the nation millions in... Continue Reading →

A Brazilian court on Monday sentenced former finance minister Antonio Palocci to 12 years in prison for corruption and money laundering in the country's massive corruption probe known as "Operation Car Wash." The ruling by Judge Sergio Moro adds pressure on Palocci, who served as finance minister under President Luiz Inácio Lula da Silva and... Continue Reading →