Brazil’s President Michel Temer secured crucial support for his reform agenda after lawmakers elected government allies to head both houses of Congress. Incumbent lower house speaker Rodrigo Maia, seen as Temer’s favorite, was re-elected in a first round vote on Thursday with backing from 293 lawmakers, while Senator Eunicio Oliveira, from the ruling Brazilian Democratic Movement... Continue Reading →

The Supreme Court picked its newest member on Thursday to take over the investigations of politicians implicated in Brazil's biggest graft scandal, which is expected to shake the country's establishment and government. Court officials said Justice Edson Fachin was chosen by random electronic selection from among a group of five of the court's 10 members... Continue Reading →

U.S. East Coast refiners are on a Brazilian crude buying spree, market sources say, displacing West African cargoes as producers such as Royal Dutch Shell and Norway's Statoil sell rising output from fields off Brazil's coast. The uptick in Brazilian imports into the region comes as the only Latin America producer to increase output in... Continue Reading →

Crude prices may have stabilized, but it’s still not a great time to be Big Oil. Investors eliminated about $53 billion in market value for producers over three days as the twin titans of U.S. oil posted their worst annual financial outcomes in decades. With Royal Dutch Shell Plc, Total SA and BP Plc due to... Continue Reading →

Brazilian regulator ANP plans to present a list of subsalt offshore exploration areas by early February for the government to consider auctioning at the end of the year as part of what the agency's new head called a historic opening of the nation's oil sector. Décio Oddone, who took the job this month, said in... Continue Reading →