May 26 Maria Silvia Bastos has resigned as head of BNDES due to personal reasons, the Brazilian development bank said in a statement on Friday. BNDES director Ricardo Ramos will take over her position on an interim basis, the statement said. BNDES has been ensnared in recent months in a mounting political scandal over investments... Continue Reading →

Allies of beleaguered Brazilian President Michel Temer are waiting for a crucial electoral court ruling in early June rather than withdrawing support now, but they are already preparing a grand bargain to pick an interim successor, party leaders said this week. At dinner parties in plush Brasilia residences and in backroom meetings in Congress, Temer's... Continue Reading →

OPEC extended oil production cuts for nine more months after last year’s landmark agreement failed to eliminate the global oversupply or achieve a sustained price recovery. Members meeting in Vienna agreed to prolong their accord through March, said delegates familiar with the decision, asking not to be identified before an announcement is made. OPEC is not... Continue Reading →

Key members of Brazil's coalition government are struggling to find a consensus candidate to replace President Michel Temer should he be forced from office by a massive corruption probe that has ensnared scores of politicians and business leaders. Temer, a center-right politician, has refused to resign despite allegations he gave his blessing to a bribery... Continue Reading →

In April, the company reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until July 31, 2017, reflecting significant progress on the terms of such restructuring made with the bank group, Seadrill said in its first quarter 2017 report on Wednesday. The company also said it is now in... Continue Reading →

Several thousand anti-government protesters clashed violently with police in the Brazilian capital on Wednesday, smashed windows of several ministry buildings and set tires on fire near Congress, sending black billowing smoke into the air. The march was called by leftist parties, unions and other groups demanding the resignation of scandal-hit President Michel Temer and that... Continue Reading →

Engineering conglomerate Odebrecht SA [ODBES.UL] expects aviation regulator Anac to approve the sale of its stake in Brazil's second busiest international airport to HNA Airport Holding Group Co Ltd [HNAIDD.UL] within 90 days, newspaper Valor Econômico reported on Wednesday. Cabinet minister Wellington Moreira Franco said last month the Chinese company, part of HNA Group Co... Continue Reading →

  05/22/2017   Press Release / Rodrigo Feria Even in a period of low sales and slowed growth, some companies in the maritime market continue with plans to expand the fleet. An example of this is the Brazilian offshore company CBO Group, which resumed its partnership with Sotreq, a 75-year-old company in the market and one... Continue Reading →

23/05/2017 The uncertainties brought by the political crisis have left the oil and gas and electric power industries apprehensive about the resumption of investments in the country and the agendas that were in progress. Among the oil companies, the perception is that the auctioning schedule announced by the current Ministry of Mines and Energy (MME)... Continue Reading →