Jan. 30, 2017 With debts of R $ 1.3 billion, Enseada Paraguaçu is the first Odebrecht company to request approval of an extrajudicial recovery plan to avoid bankruptcy The Enseada Paraguaçu shipyard, whose main partner is Odebrecht, asked Friday night that the Rio de Janeiro court approve a request for extrajudicial recovery for the company.... Continue Reading →
Brazil Exempts Military From Pension Shake-Up to Ensure Support
As the Brazilian government prepares for a confrontation with the nation’s workforce over far-reaching pension reform, one profession is notably absent from the belt-tightening move: the military. Following Congress’s approval of a public spending cap late last year, the government of President Michel Temer is pushing ahead with a broad pension reform as the next stage... Continue Reading →
Ex-tycoon Batista held on return to Brazil on graft charges: report
Eike Batista, once Brazil's richest man, flew into Rio de Janeiro on Monday and was detained by federal police in connection with charges including an alleged $16 million bribe to a former governor, Globo news television reported. Batista, a brash entrepreneur who became the face of Brazil's now-fizzled commodities boom, had been sought since last... Continue Reading →
DEEP SEA SUPPLY RENEWS SUPPORT VESSEL CONTRACT FOR ONE YEAR IN BRAZIL
Jan, 2017 The AHTS Sea Tiger multipurpose vessel will have another year of contract with Petrobras. The state company has extended the deadline for the current contract with Norway's Deep Sea Supply to support its offshore platforms, starting at the end of January. The unit, built in 1998, has operated in Brazil since 2013,... Continue Reading →
Brazil Supreme Court approves Odebrecht graft plea deal testimony
Mon Jan 30, 2017 The corporate logo of Odebrecht is seen in a construction site in Caracas, Venezuela January 26, 2017. REUTERS/Carlos Garcia Rawlins The president of Brazil's Supreme Court, Carmen Lucia Rocha, has approved plea bargain statements by 77 executives of engineering conglomerate Odebrecht [ODBES.UL], who are being investigated for paying bribes in the... Continue Reading →
Greenpeace launches campaign against oil exploration off Brazil
zoom The environmentalist group, Greenpeace, has launched a new campaign in Brazil with an aim to protect the newly discovered Amazon Reef from oil exploration. In the far north of Brazil, where the Amazon River meets the sea, there is a coral reef whose discovery was announced by a group of scientists in April... Continue Reading →
Odebrecht says willing to exit Peru amid government pressure
Brazilian construction company Odebrecht [ODBES.UL] said on Friday it was willing to sell off its remaining projects and businesses in Peru as it faces a massive graft inquiry and calls from the government to leave the Andean country. Earlier this week, Peruvian President Pedro Pablo Kuczynski delivered his most heated remarks yet on the scandal,... Continue Reading →
Chevron’s First Loss in Decades Signals Oil’s Struggle
Chevron Corp. posted its first annual loss since at least 1980, signaling the difficulties faced by the world’s biggest oil companies as they struggle to emerge from the worst collapse in a generation. The company had a $497 million loss last year and failed to replace all of the crude and natural gas it pumped... Continue Reading →
Baker Hughes narrows 4Q loss
zoom Baker Hughes, soon to merge with GE, has reduced its fourth quarter loss, compared to both a year before and to a previous quarter. The company, one of the world’s largest oilfield services providers, said its net loss for the quarter was $413 million, an improvement from the previous quarter of $429 million... Continue Reading →
Deep Sea Supply’s anchor handler awarded Brazilian contract
zoomSea Tiger Deep Sea Supply, the Oslo-listed owner of offshore support vessels, has been awarded a new, time charter contract for the anchor handling tug and supply (AHTS) vessel Sea Tiger for operations offshore Brazil. Deep Sea Supply said on Thursday that the contract is for a firm period of one year and will begin... Continue Reading →
