Brazilian markets plunged in early trading as a fresh political crisis ensnared President Michel Temer and threatened to derail a reform agenda that had helped restore confidence in the embattled South American nation. Futures of the benchmark Ibovespa gauge plunged 10 percent, and futures of the real hit circuit breaker limits after sinking 6 percent.... Continue Reading →

The chairman of meatpacking giant JBS SA secretly recorded his discussion with Brazilian President Michel Temer about payments to jailed former House Speaker Eduardo Cunha in return for his silence, newspaper O Globo reported on Wednesday. The paper reported, without saying how it obtained the information, that JBS Chairman Joesley Batista and his brother, Chief... Continue Reading →

  The National Petroleum Agency (ANP) will adopt measures to stimulate the participation of investment funds in the upcoming auctions of oil areas. According to the Director General of the agency, Décio Oddone. Among the measures will be the reduction of companies' capital requirements for participation and simplification of practices for consortium formation. - We... Continue Reading →

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 →