Creditors of Odebrecht SA have agreed to not tap proceeds from the sale of a water and sanitation utility for early repayment of loans, giving the embattled Brazilian engineering conglomerate more time to restructure 76 billion reais ($24 billion) of obligations. In a Tuesday statement, Odebrecht [ODBES.UL] said lenders allowed it to keep the 2.5... Continue Reading →

The Brazilian government is evaluating setting biofuel mandates to fuel distributors with the aim of increasing consumption of renewable fuels and cutting carbon emissions, the country’s biofuels director Miguel de Oliveira said on Tuesday. Ethanol and biodiesel mills would issue certificates of emissions reductions (CERs) that would be transferred to fuel distributors when they buy... Continue Reading →

A bill that backers say will modernize Brazil's labor laws and ease employment rules for companies was approved by a lower house committee on Tuesday and was headed for a floor vote in the full chamber on Wednesday. The committee approved the proposal 27-10, a victory for President Michel Temer, who is trying to pass... Continue Reading →

Electric cars are coming fast -- and that’s not just the opinion of carmakers anymore. Total SA, one of the world’s biggest oil producers, is now saying EVs may constitute almost a third of new-car sales by the end of the next decade. The surge in battery powered vehicles will cause demand for oil-based fuels... Continue Reading →

April 25, 2017 By Daniel Fraiha (daniel@petronoticias.com.br) The discussion about the waiver request for the Libra FPSO was intense at the public hearing promoted by the ANP and the industrial sector has been waiting with great expectation for the result to be released by the agency. Several companies and institutions, concerned about the future of... Continue Reading →

The Spanish and Brazilian governments have teamed up to lay an undersea cable in the Atlantic Ocean to offer fast online and cloud services to citizens of both countries by 2019, underscoring efforts to rout communications outside North America. The EllaLink subsea cable will connect to data centers in Madrid and São Paulo, as well... Continue Reading →

Argentina’s Vaca Muerta, one of the largest shale formations outside of North America, offers tons of promise for the country’s energy future. Just don’t hold your breath waiting for it. Energy Minister Juan Jose Aranguren, billionaire investor Paolo Rocca and bullish Morgan Stanley economists all predict lightning fast growth in the region, comparing it to the Eagle Ford... Continue Reading →

Halliburton Co reported a smaller quarterly loss from a year earlier, when the oilfield service provider recorded $2.77 billion in charges. Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a year earlier. The year-ago quarter... Continue Reading →

  The Brazilian government may increase the corruption fine that engineering conglomerate Odebrecht agreed to pay in a multi-billion dollar leniency deal signed last year, newspaper Folha de S.Paulo reported on Sunday. Odebrecht, once Latin America's biggest builder, struck a deal with Brazil, the United States and Switzerland in December designed to allow the company... Continue Reading →

Schlumberger, the world’s largest oilfield services provider, increased its revenues by almost 6 pct during the first quarter of 2017 while its profit fell, compared to the year-before period.  In the quarterly report on Friday, the company posted a $6.89 billion in revenues for the first quarter 2017, an increase compared to $6.52 billion in the... Continue Reading →