Brazil’s real posted its longest winning streak in five weeks, swept up in a rally for emerging-market currencies that overshadowed domestic political turmoil. The Ibovespa dropped. The real advanced 1.1 percent to 3.4894 per dollar Monday in Sao Paulo, rising for the fourth consecutive day. The Ibovespa slipped 0.4 percent after swinging between gains and... Continue Reading →

Brazil's prosecutor general found evidence linking the tourism minister of interim President Michel Temer to the corruption scheme at state-run oil company Petroleo Brasileiro SA, newspaper Folha de S. Paulo reported on Monday. Prosecutor General Rodrigo Janot included intercepted phone messages in a request to the Supreme Court for a formal investigation of Tourism Minister... Continue Reading →

Devon Energy Corp., the energy producer that’s targeted $3 billion of asset sales to fund drilling and lower debt, agreed to sell fields in Texas and Oklahoma and a royalty interest in the northern Midland Basin for almost $1 billion to undisclosed buyers. The largest transaction was for reserves in East Texas for $525 million,... Continue Reading →

Odebrecht Engenharia e Construcao SA, Brazil’s biggest builder, posted revenue growth the same year the top manager of its controlling group was jailed as part of a corruption probe. The builder’s net revenue rose 23 percent to $17 billion in 2015, compared to $13.8 billion a year earlier, according to a copy of its financial results... Continue Reading →

Brazil’s Acting President Michel Temer will prioritize infrastructure concessions this year as a way to showcase an improving political environment and rule of law, before offering stakes in state companies in 2017.  Several highways and airports are almost ready to be put up for tender. Such deals are less controversial than those involving strategic assets,... Continue Reading →

Petroleos Mexicanos said rig operators including Perforadora Latina, Oro Negro and Grupo R can make their bond payments after the state oil company renegotiated contracts. Pemex, as the company is known, reviewed 53 rig leasing agreements, according to an e-mailed statement in response to questions from Bloomberg News. Over the next 12 months, Pemex will... Continue Reading →

Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and Chief Executive Officer Rex Tillerson said Thursday. The oil giant has so far invested $200 million in the world’s second largest shale gas deposit, Tillerson said after meeting with Argentine President Mauricio Macri in... Continue Reading →