Brazil plans to hold two subsalt oil auctions in 2017, putting new exploration areas up for bidding in November for what should be the "most competitive" round of the year, Oil Secretary Marcio Felix said in an interview on Thursday. The auctions, an effort to lure foreign investment in a sector that for much of... Continue Reading →

Brazilian Supreme Court Justice Teori Zavascki was killed in a plane crash on Thursday, raising questions about who will take over his investigation into dozens of politicians in the country's biggest ever corruption scandal. Rescuers found three bodies in the wreckage of the small, twin-prop plane that crashed off the coast of Rio de Janeiro... Continue Reading →

  Brazil's inflation rate slowed more than expected in mid-January, falling below 6 percent for the first time in nearly three years and reinforcing market bets on steep interest rate cuts by the central bank. Consumer prices as measured by the IPCA-15 index rose 5.94 percent in the 12 months to mid-January, slowing from an... Continue Reading →

  Jan 18 Fire was reported on Wednesday at the Reduc refinery in the state of Rio de Janeiro controlled by Brazil's state-run oil firm Petrobras, with impact on production, a local oil workers union said. Flames had reached one of the three distillation units at Reduc, located in Duque de Caxias, in Rio's metropolitan... Continue Reading →

Rolls-Royce Holdings Plc won approval from a U.K. judge for its settlement with British prosecutors as the U.S. Justice Department unsealed a parallel agreement with the company in Ohio the day after the company announced it would pay $800 million in total to resolve bribery probes in both countries as well as Brazil. In London,... Continue Reading →

Brazil's largest engineering conglomerate Odebrecht SA [ODBES.UL] plans to reach settlements in all 12 countries where it has admitted to paying bribes to obtain contracts, two sources with knowledge of the matter told Reuters on Tuesday. The family-owned firm signed a $1.94 billion leniency deal with U.S., Swiss and Brazilian prosecutors in December for its... Continue Reading →

Brazil may hold a second licensing round this year for new oil exploration areas in an offshore region known as the sub-salt where massive discoveries have been made, the Energy Ministry said on Tuesday, as it looks to spur economic growth. Seeking to attract investment and avoid a third year of recession in 2017, the... Continue Reading →

Brazil's busiest pipeline of bond and equity offerings in at least six years is being fueled by increasing investor confidence in the country's ability to emerge from a harsh recession and shrug off global market turmoil, bankers said. In what the bankers say is a window for offerings that opened last week and may extend... Continue Reading →