Here we go again..... The head of Brazil's top electoral court said on Tuesday that justices would again next month take up a case that could annul the 2014 election on charges of illegal campaign financing and even unseat President Michel Temer. Justice Gilmar Mendes, who also sits on Brazil's supreme court, said the trial... Continue Reading →

CHC Brasil, a subsidiary of CHC Helicopter (CHC), officially opened its new hangar at Benedito Lacerda Airport in Macaé. The new 1,270-square-foot facility is designed to accommodate up to three aircraft internally and will support the operation of the S-76, S-92 and AW139 aircraft for customers in the region. Present in Macaé since 1996, the... Continue Reading →

There seems to be little doubt that a recovery in the rig market will happen one day, and from the analyst reports to dinner party philosophizing, the focus seems held on the timing of this expected recovery, not the likelihood of it happening. But less attention is given to what that recovery might look like... Continue Reading →

Odebrecht Óleo & Gás SA, the offshore oil drilling firm owned by Brazil's Odebrecht SA, has obtained support from more than 60 percent of its creditors for a restructuring of about $5 billion in debt, two sources with knowledge of the matter said on Friday. The sources, who asked for anonymity because discussions are private,... Continue Reading →

Brazil is toughening requirements for ethanol importers to protect domestic producers from an incoming surge of U.S. corn ethanol, a minister said on Monday, adding that he opposed the idea of new tariffs that could trigger costly retaliation. Buyers of foreign ethanol will now have to follow a rule applied to Brazilian ethanol producers regarding... Continue Reading →

The Brazilian economy returned to positive in the first quarter after a long recession, according to Central Bank data released on Monday, which have not yet indicated a linear or strong recovery. The Central Bank's Economic Activity Index (IBC-Br), a type of indicator of Gross Domestic Product (GDP), grew by 1.12% from January to March over... Continue Reading →

PetroRio reported net income of R $ 4.019 million in the first quarter of this year, reversing a net loss of R $ 65.387 million in the same period of 2016. According to the company, the improvement in net profit was mainly due to the "Brent valuation and reduction of the lifting cost". Ebitda between... Continue Reading →

Tidewater, one of the world’s largest offshore vessel owners, has entered into a debt restructuring support agreement with certain consenting creditors. The U.S.-based vessel company has entered into the deal with lenders under its Fourth Amended and Restated Revolving Credit Agreement, dated as of June 21, 2013, and holders of Tidewater Senior Notes to put... Continue Reading →

Banks are raising the heat on Brazilian conglomerate Odebrecht SA to put its house in order after months of treating the scandal-hit company with kid gloves because of fears its collapse could hurt their balance sheets, sources said. Odebrecht has agreed to accelerate asset sales as part of a deal with creditor banks to let... Continue Reading →