Brazil’s government presented measures to offer credit for agriculture, infrastructure, industry and construction, as Latin America’s biggest economy struggles to regain investor confidence and stem job losses amid its worst downturn in decades. As much as 83 billion reais ($20.4 billion) will be offered at rates set by Banco do Brasil, Caixa Economica Federal and... Continue Reading →

Brazil’s swap rates plunged to a four-month low as dovish minutes from the central bank’s latest meeting led traders to cut bets on interest-rate increases. Swap rates on contracts due January 2017 fell 0.2 percentage point to 14.5 percent as of 3:37 p.m. in Sao Paulo as the central bank signaled in minutes of its latest... Continue Reading →

A Brazilian bankruptcy court upheld a restructuring plan for embattled engineering conglomerate Grupo OAS, paving the way for a slew of asset sales aimed at helping pay over 8 billion reais ($2 billion) in liabilities. In a Thursday statement, the São Paulo-based group said that bankruptcy judge Daniel Carnio Costa gave his approval to the... Continue Reading →

Mexico could inject capital into slumping state-owned Petroleos Mexicanos and allow it to increase debt more than planned if the oil producer presents a plan to ensure its long-term sustainability and profitability, Deputy Finance Minister Miguel Messmacher said. Pemex needs to show it can lower costs, make better investments and accelerate partnerships with other companies,... Continue Reading →

Royal Dutch Shell Plc won shareholder approval to buy BG Group Plc, sealing its biggest acquisition amid the worst oil-industry slump since the global financial crisis. More than 83 percent of Shell shareholders voted in favor of the transaction, the company said in a statement. Most votes were cast by proxy while other investors met... Continue Reading →

Brazil's Federal Police on Wednesday launched the latest stage of a sweeping investigation into corruption at state-controlled firms, with six arrest and 15 search warrants issued in the states of São Paulo and Santa Catarina. The warrants in the so-called "Operation Carwash" probe involve the suspected use of offshore companies and real estate transactions to... Continue Reading →

Reuters Jan 26 - Foreign direct investment into Brazil came in December at more than twice the amount estimated by analysts, as a weakening currency and declining asset prices triggered a jump in merger and acquisition activity at the end of last year. FDI, as the indicator is known, rose to $15.211 billion last month,... Continue Reading →

New research from DNV GL has revealed that cost management has become an even higher priority for senior oil and gas professionals in the year ahead, as 73% prepare their company for a sustained period of low oil prices. The top three measures prioritized to impose stricter cost control are: Tougher decisions on capex Headcount... Continue Reading →