The Atlântico Sul Shipyard (EAS) runs the risk of having to close the doors after mid-2019, when it has finished delivering the ships to its sole client, Transpetro, the Petrobras logistics subsidiary. "This risk [of paralyzing activities from the end of 2019] is high," says Harro Burmann, president of EAS. Controlled by Queiroz Galvão and Camargo... Continue Reading →

The Brazilian Social Democratic Party, the main ally of President Michel Temer, said on Monday it would stay in his coalition for now, despite a move by younger members to break away from the scandal-plagued government. Speaking at an executive meeting of the PSDB, they said a decision to stick with Temer was based on... Continue Reading →

The acquittal of Brazilian President Michel Temer last week on charges of illegal campaign funding in the 2014 election has emboldened the center-right leader to offer no more concessions to Congress that would weaken his austerity package, a senior member of the economic team and an aide told Reuters. Brazil's top electoral court dismissed a... Continue Reading →

General Electric Co on Monday named veteran insider John Flannery as its next chief executive, taking over from Jeff Immelt who is stepping aside after 16 years as the head of the conglomerate he helped steer through the financial crisis but is now worth a third less than when he took over. Under Immelt, GE... Continue Reading →

Mexican state-owned oil company Pemex plans to accelerate the establishment of farm-out arrangements and associations in a push to increase crude oil output and bring reserves online. In words of the company, this mechanism will allow it to increase investments, enhance competitiveness and optimize how it spreads financial and technological risks. Read more

Brazil's top electoral court dismissed a case on Friday that threatened to unseat President Michel Temer for alleged illegal campaign funding in the 2014 election, when he was the running mate of impeached President Dilma Rousseff. The ruling gives Temer some breathing room but will not end a political crisis enveloping the beleaguered center-right leader.... Continue Reading →

Brazil is mulling the extension of a special customs regime for the oil industry in a move aimed at maintaining the country's appeal to major global energy firms, according to three sources with knowledge of the matter. The so-called Repetro regime, which applies to export and import of goods used in oil production and related... Continue Reading →

Brazil’s top electoral court this week has resumed ruling on allegations the winners of the 2014 election benefited from illegal campaign financing, a decision that could potentially force President Michel Temer out of office. The case began when the losing party filed a lawsuit against then President Dilma Rousseff and Vice President Temer with the... Continue Reading →

Brazil's top electoral court on Friday was poised to toss out a case alleging that President Michel Temer used illegal campaign funding in 2014, giving the beleaguered leader some breathing room even as he faces a separate corruption investigation. One justice on Brazil's seven-member Supreme Electoral Court (TSE) voted to annul the election victory of... Continue Reading →