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 →

  President Michel Temer, fighting for survival over corruption allegations against him and his government, is planning new measures to jump start Brazil's stalled economy, improve his dismal approval ratings and stifle calls for his resignation. The stimulus measures, to be unveiled this week, include steps to relieve indebted consumers and also force credit card... Continue Reading →

The Switzerland attorney general’s office is shifting its focus to banks operating in the country as it continues to investigate Brazil’s bribery scandal, after plea deals with individual executives provided fresh insights into how the illicit funds flowed through the financial system. Attorney General Michael Lauber said in an interview that he’s reviewing how Swiss banks... Continue Reading →

Brazil's top prosecutor brought new charges against Senate President Renan Calheiros on Monday, accusing him of taking part in corruption at state oil company Petrobras a week after he was nearly removed in an earlier embezzlement case. Prosecutor General Rodrigo Janot said Calheiros had received part of a donation of 800,000 reais ($240,000) in 2010... Continue Reading →

    The P-68 platform, which is part of the replicating FPSOs, had another construction phase completed. With the completion of the hull at the Rio Grande Shipyard, it now sails towards the Jurong shipyard, in Espírito Santo, where it will go through the process integration and installation of modules. When fully completed, the platform... Continue Reading →

Oil prices surged to their highest since mid 2015 and U.S. Treasury yields hit a more than two-year peak on Monday after the world's top crude producers agreed to cut output. Coming at the start of a week when the United States is expected to raise interest rates for the only the second time since... Continue Reading →

Brazilian federal prosecutors on Friday formally accused former president Luiz Inacio Lula da Silva of having interfered in a government tender to buy new fighter jets in favor of Swedish plane maker Saab AB. Lula, who was no longer in the presidency when the suspected illegal practices happened, was accused of having used its influence... Continue Reading →