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European oil majors given a taste of Brazil may soon be ready for more. Norway’s Statoil ASA, Anglo-Dutch company Royal Dutch Shell Plc and France’s Total SA have paid billions since 2013 to gain access to Brazil’s fertile offshore oil riches. They’re now seen as having the best chance to expand when Brazil later this year... Continue Reading →
Feb 22 Brazil's central bank maintained the pace of interest rate cuts on Wednesday, resisting pressure to further step up monetary easing to pull Latin America's economy out of its worst recession on record. In a unanimous vote, the bank's 9-member monetary policy committee, known as Copom, decided to lower its benchmark Selic rate by... Continue Reading →
Brazil's central bank will likely maintain its aggressive pace of interest rate cuts on Wednesday despite some calls to further step up monetary easing to rescue an economy mired in recession. The bank's 9-member monetary policy committee, known as Copom, will likely cut its benchmark Selic rate BRCBMP=ECI by 75 basis points to 12.25 percent,... Continue Reading →
Brazil and 10 Other Countries Coordinate Odebrecht Probes Workers, student and farmers protest the scandal involving Brazilian construction company Odebrecht in front of Panama's Congress in Panama City on Thursday. Images PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By ROGERIO JELMAYER and LUCIANA MAGALHAES Feb. 17, 2017 9:34 a.m. SÃO PAULO—Prosecutors in Brazil and 10 other countries agreed... Continue Reading →
A federal judge in Brazil on Friday suspended an order that required two units of construction firm Odebrecht to make monthly payments amounting to 3 percent of their monthly revenues to a government account, according to a court document. Judge Friedmann Wendpap ruled that the two units of the Brazilian builder, at the center of... Continue Reading →
02/17/2017 | News release On some walls in the less affluent neighborhoods of the Mexican capital it is still possible to see graffiti with the slogans 'Down the Gasolinezo'. About a month ago, in early January, popular protests spread across the country against a 20% price increase in gasoline prices and left six people dead during clashes... Continue Reading →
The government is close to overcoming internal differences and hammering the new local content rules for the 14th round of oil and gas bids. A conciliation proposal has been sewn in recent days by the initiative of two authorities: the Ministry of Mines and Energy (MME) and the Ministry of Industry, Foreign Trade and... Continue Reading →
February 15, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and natural gas production in January was 2.86 million barrels of oil equivalent per day (boed), of which 2.74 million boed were produced in Brazil and 0.12 million boed abroad. The average oil production in the country was 2.23 million barrels... Continue Reading →
2/15/17 A study by the Competitiveness Department of the Federation of Industries of the State of São Paulo (Fiesp) argues that the change from the current rules of local content for exploration and production of oil and gas to a single global index would reduce production, number of jobs and tax revenues generated by the... Continue Reading →
Several economists are turning bullish on a return to growth in the Brazilian economy following months of downward revisions to forecasts as slowing inflation fuels bets on aggressive interest rate cuts. The upswing in confidence suggests Latin America's largest economy may finally be heading for a recovery from a brutal two-year recession after frustrated expectations... Continue Reading →
Brazil Energy Insight 