May, 7,  2017 Two affiliates of Edison Chouest Offshore signed a five-year contract with Shell Brazil for construction, inspection, maintenance and underwater repair services. The agreement includes a varied list of projects servicing a construction and subsea installation vessel of Bram Offshore, a subsidiary of Edison Chouest. The contract also provides inspection services for C-Innovation,... Continue Reading →

05/05/2017 Prysmian in Brazil, a leading global company in cables and systems for the energy and telecommunications sectors, earned R $ 1.3 billion in the country in 2016 and obtained a net profit, before extraordinary effects, of R $ 61.7 million in year. Although sales volume fell by around 15% from one fiscal year to... Continue Reading →

A former top official of Brazilian construction giant Odebrecht SA testified that he was asked in 2014 to bribe the then-head of Mexican state oil firm Petróleos Mexicanos, according to a document filed with Brazil’s Supreme Court as part of a broader corruption investigation. In the document, a copy of which was reviewed by The Wall Street... Continue Reading →

Brazil's former President Luiz Inacio Lula da Silva had "complete knowledge" of the massive political kickback scheme that centered on contracts at state-run oil firm Petrobras, a former top executive testified on Friday. Former Petrobras (PETR4.SA) engineering and services director Renato Duque, testifying in the first of five corruption trials Lula faces, told a federal... Continue Reading →

Offshore driller Noble Corp. has reiterated its belief in long term-oil market fundamentals despite posting a loss of $302 million in the first quarter of the year on revenues of $363 million. The company said the loss would have been $42 million had it not been for a negative impact of non-cas discrete tax item... Continue Reading →

Politicians caught up in a sweeping three-year graft investigation are unlikely to return to their positions of power, former President Fernando Henrique Cardoso said in an interview. Cardoso included Brazil's former President Luiz Inacio Lula da Silva, the front-runner in early polls for next year's presidential elections despite facing five corruption trials, as among those... Continue Reading →

See attached presentation. Fernando-Borges-OTC-Houston-EUA

Brazil's economy probably emerged in April from its deepest recession ever as lower interest rates and hopes of sweeping economic reforms bolstered services and manufacturing activity, a private survey showed on Thursday. The Purchasing Managers Index (PMI) for the Brazilian services sector, compiled by research firm Markit, rose to 50.3 in April from 47.7 in... Continue Reading →

A top Brazilian prosecutor said Thursday there was still much work to be done to rid state-run oil company Petrobras of corruption, despite more than three years of investigations into a political kickback scheme involving contractors. Prosecutor Carlos Lima made the statement at a news conference detailing the arrests of three former Petrobras executives who... Continue Reading →

President Michel Temer's proposal to reform Brazil's costly social security system cleared a committee vote on Wednesday, but the measure, deeply unpopular with voters, faces an uphill battle in the full Congress. The committee voted 23-14 to approve the constitutional amendment, which would make Brazilians work longer and reduce pension benefits to plug a widening... Continue Reading →