The merger between Technip and FMC Technologies is set to be completed in less than a month. The two oilfiled services companies said on Wednesday that the Chancery Division of the High Court of Justice of England and Wales approved the European cross-border merger between Technip and TechnipFMC and set the date of completion... Continue Reading →

Brazilian construction conglomerate Odebrecht SA ODBES.UL is in advanced talks on selling its majority stake in a $5 billion natural gas pipeline project in Peru to Canada's Brookfield Asset Management Inc (BAMa.TO), Peru's Finance Minister Alfredo Thorne said in a televised interview. The two companies and the government of Peruvian President Pedro Pablo Kuczynski struck... Continue Reading →

Odebrecht SA, Latin America’s biggest construction company, and an affiliate agreed to pay more than $3.5 billion to resolve bribery allegations involving Brazil’s state-run oil company, the largest corruption penalty ever levied by global authorities. Odebrecht pleaded guilty in Brooklyn, New York, on Wednesday to conspiring to pay bribes in violation of the Foreign Corrupt Practices... Continue Reading →

Brazilian construction firm Odebrecht SA [ODBES.UL] and affiliated petrochemical company Braskem SA pleaded guilty in a U.S. court on Wednesday to violating American foreign bribery laws as part of a more than $3 billion deal resolving a sweeping corruption probe of Brazil's state oil company. The companies entered their pleas in federal court in Brooklyn... Continue Reading →

Brazil's President Michel Temer is increasingly likely to depend on lower interest rates and an unpopular agenda of legislative reforms to revive a moribund economy, analysts said, as a deep recession risks entering a third year. Temer's best chances to spark growth lie in quickly pushing through Congress an unpopular pension reform unveiled this month.... Continue Reading →

The Brazilian construction firm Odebrecht SA [ODBES.UL] and petrochemical company Braskem SA (BRKM5.SA) will pay 1.4 billion reais ($417.5 million) to the U.S. and Swiss governments as part of a settlement in a sweeping corruption case, a source close to the negotiations told Reuters Tuesday The deals, first reported by the Folha de S.Paulo newspaper,... Continue Reading →

Exxon Mobil Corp. plans to formally approve investing in the 1.4-billion barrel Liza oil discovery off the coast of Guyana by the end of 2017. Exxon hired SBM Offshore NV to design a floating production and storage vessel that will handle crude pumped from the field 120 miles (193 kilometers) off Guyana’s coast, the Irving,... Continue Reading →

The Brazilian central bank will add excess reserves to its toolkit to control liquidity and increase the efficiency of monetary policy, central bank chief Ilan Goldfajn said on Tuesday. In a briefing, Goldfajn announced measures to reduce credit costs for companies and consumers in the medium- to long-term as part of the government's push to... Continue Reading →

  12/20/2016 The federal government will include in the next auction, ten exploratory areas with potential for pre-salt, six in Rio de Janeiro and four in Espírito Santo. If successful, they will be under the concession regime. "They are not in the pre-salt polygon, but they are adjacent areas, but who guarantees that the pre-salt... Continue Reading →

Former Brazilian leader Luiz Inacio Lula da Silva will face a fifth corruption trial, a judge ruled on Monday, as charges pile up against the man seen as a front-runner to win the 2018 presidential election. Judge Sergio Moro, who has overseen the bulk of Brazil's biggest graft probe into a long-standing kickback scheme at... Continue Reading →