Halliburton Co. eked out a surprise profit in the third quarter as the world’s second-largest oil services company gained business from oil producers that are beginning to ramp up operations following the worst crude-market crash in a generation. After calling the bottom of the oil cycle three months ago, Halliburton reported its first North American... Continue Reading →

For six years, Brazil’s central bank failed to achieve its mandate of ensuring price stability, damaging its credibility and eroding Brazilians’ purchasing power. Even as the nation’s economy nose-dived into the worst recession on record, policy makers had little choice but to stick with one of the highest interest rates among G-20 nations. But now, with central-bank... Continue Reading →

Brazil will probably reduce interest rates this week for the first time in four years, in what is set to be the beginning of a long and deep series of rate cuts expected to help the economy emerge from a two-year-long recession. Forty-six of 50 economists polled by Reuters expect the central bank to cut... Continue Reading →

Oct 17/Reuters Brazil will stop favoring companies that offer to purchase a larger amount of local goods and services when selecting winners in oil and gas rights auctions, newspaper Valor Economico reported on Monday. In previous auctions, companies that offered more in the way of local content requirements were favored over peers. The newspaper said... Continue Reading →

  Oct 14, 2016 The Arpoador shipyard delivered another SDSV type vessel, used to support activities for the shallow diving operations, to service company Oceanica ,  http://oceanicabr.com/en/ .The Oceanic Sub V is chartered by Petrobras for a period of three years. The vessel hosts 37 technicians in 13 cabins, including divers, operators and crew. The... Continue Reading →

A former Brazilian senator was sentenced on Thursday to 19 years in prison for corruption, money laundering and obstruction of justice in the investigation of kickbacks at state-run oil company Petrobras. Gim Argello was arrested in April on evidence he took 7.35 million reais ($2.28 million) in bribes to ensure executives at major infrastructure companies... Continue Reading →

Brazil’s real advanced as a rebound in oil prices overshadowed disappointing Chinese data and increased bets on a Federal Reserve interest-rate hike that bolstered the dollar. The real gained 0.2 percent to 3.1904 per dollar at 3:24 p.m. in Sao Paulo after declining as much as 0.7 percent earlier. The Bloomberg Commodity Index gained 0.7... Continue Reading →

By Rodrigo Viga Gaier | Reuters Oct 11 State development bank BNDES has temporarily frozen loan disbursements worth $4.7 billion for several major engineering firms ensnared in Brazil's biggest corruption investigation. The suspension was enacted in May but only made public on Tuesday by Ricardo Ramos, director of the bank's exports division. The move blocks... Continue Reading →

Oct 11/Reuters - The approval of a federal spending cap in a first-round vote shows Brazil is tackling its fiscal woes and is on its way to entering a sustainable growth path, Finance Minister Henrique Meirelles said on Tuesday. Meirelles said the mere expectation of a budget reform has lifted confidence, but stressed that the... Continue Reading →