Oil-services giant Halliburton Co. told employees to stay put. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected. Of all the energy sectors that may feel the pain of President Donald Trump’s order... Continue Reading →
Odebrecht shipyard Enseada Paraguaçu seeks approval for recovery Plan
Jan. 30, 2017 With debts of R $ 1.3 billion, Enseada Paraguaçu is the first Odebrecht company to request approval of an extrajudicial recovery plan to avoid bankruptcy The Enseada Paraguaçu shipyard, whose main partner is Odebrecht, asked Friday night that the Rio de Janeiro court approve a request for extrajudicial recovery for the company.... Continue Reading →
Brazil Exempts Military From Pension Shake-Up to Ensure Support
As the Brazilian government prepares for a confrontation with the nation’s workforce over far-reaching pension reform, one profession is notably absent from the belt-tightening move: the military. Following Congress’s approval of a public spending cap late last year, the government of President Michel Temer is pushing ahead with a broad pension reform as the next stage... Continue Reading →
Ex-tycoon Batista held on return to Brazil on graft charges: report
Eike Batista, once Brazil's richest man, flew into Rio de Janeiro on Monday and was detained by federal police in connection with charges including an alleged $16 million bribe to a former governor, Globo news television reported. Batista, a brash entrepreneur who became the face of Brazil's now-fizzled commodities boom, had been sought since last... Continue Reading →
Brazil Supreme Court approves Odebrecht graft plea deal testimony
Mon Jan 30, 2017 The corporate logo of Odebrecht is seen in a construction site in Caracas, Venezuela January 26, 2017. REUTERS/Carlos Garcia Rawlins The president of Brazil's Supreme Court, Carmen Lucia Rocha, has approved plea bargain statements by 77 executives of engineering conglomerate Odebrecht [ODBES.UL], who are being investigated for paying bribes in the... Continue Reading →
Greenpeace launches campaign against oil exploration off Brazil
zoom The environmentalist group, Greenpeace, has launched a new campaign in Brazil with an aim to protect the newly discovered Amazon Reef from oil exploration. In the far north of Brazil, where the Amazon River meets the sea, there is a coral reef whose discovery was announced by a group of scientists in April... Continue Reading →
Odebrecht says willing to exit Peru amid government pressure
Brazilian construction company Odebrecht [ODBES.UL] said on Friday it was willing to sell off its remaining projects and businesses in Peru as it faces a massive graft inquiry and calls from the government to leave the Andean country. Earlier this week, Peruvian President Pedro Pablo Kuczynski delivered his most heated remarks yet on the scandal,... Continue Reading →
Chevron’s First Loss in Decades Signals Oil’s Struggle
Chevron Corp. posted its first annual loss since at least 1980, signaling the difficulties faced by the world’s biggest oil companies as they struggle to emerge from the worst collapse in a generation. The company had a $497 million loss last year and failed to replace all of the crude and natural gas it pumped... Continue Reading →
Baker Hughes narrows 4Q loss
zoom Baker Hughes, soon to merge with GE, has reduced its fourth quarter loss, compared to both a year before and to a previous quarter. The company, one of the world’s largest oilfield services providers, said its net loss for the quarter was $413 million, an improvement from the previous quarter of $429 million... Continue Reading →
Fitch reaffirms Petrobras’ global ratings
Rio de Janeiro, January 26, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch has reaffirmed Petrobras’ global ratings at BB, with a negative outlook. Fitch points out in its report that the Company’s liquidity is currently supported by a robust cash position, stable cash flow generation and its ability to... Continue Reading →
Brazil Energy Insight 