Dec 14 Brazil's Braskem SA , the largest petrochemical producer in Latin America, signed a leniency deal on Wednesday with Brazilian prosecutors leading a sweeping corruption probe into political kickbacks at state-run oil company Petrobras, the company said in a securities filing. The company agreed to pay 3.1 billion reais ($920 million) in fines... Continue Reading →

The meeting of the National Council for Energy Policy (CNPE), the federal government's policy and energy guidelines body, will have in its agenda the unitization rules for oil fields and the three auctions of oil and gas areas planned for 2017, said the Minister of Mines and Energy, Fernando Coelho Filho. The CNPE will discuss... Continue Reading →

A pension reform proposed by President Michel Temer that would add more than a decade to Brazilians' working lives will be debated in Congress after an overnight vote that laid bare divisions among lawmakers over the plan. Pension reform is the next move by Temer to bring a widening budget deficit under control after he... Continue Reading →

Odebrecht SA's former chief executive Marcelo Bahia Odebrecht has told prosecutors that Brazilian President Michel Temer asked for a 10 million-real ($3 million) political contribution from the company, Folha de S. Paulo reported on Wednesday. The newspaper report did not say whether the alleged donation, which it said was requested by Temer and his Chief... Continue Reading →

Brazil's President Michel Temer called U.S. President-elect Donald Trump on Tuesday, agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade... Continue Reading →

  The end of the year was accompanied by good news for the naval sector. The Merchant Marine Fund approved the priority order of R $ 1 billion for the construction of six PSV’s (Platform Support Vessels)  with Bram Offshore. The MMF board also approved R $ 27.17 million for Navigation Alliance, which will build... Continue Reading →

The man poised to replace Rex Tillerson as the leader of America’s most influential energy giant helped transform Exxon Mobil Corp.’s refining business from a poor cousin of oil production to the primary profit generator. Darren Woods, the company’s refining boss since 2012, may be named the next chief executive officer after Tillerson was picked as secretary... Continue Reading →

Brazilian senators on Tuesday passed the main text of a 20-year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. The Senate approved the spending ceiling by a 53-16 margin, though leftist opponents of the austerity measure sought to... Continue Reading →

Brazilian prosecutors and legal advisers of OAS SA are resuming talks for a plea bargain deal linked to the engineering group's participation in a massive corruption scandal, a person briefed on the matter said Tuesday. The talks that could lead to formal negotiations for a plea deal for OAS and several company executives may take... Continue Reading →