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Investors betting that Brazil’s corruption scandal will hasten President Dilma Rousseff’s downfall and usher in a stronger leader to pull Latin America’s largest economy from recession may want to think again. Brazil’s stock index rose the most among its global peers in the past week and the real touched an almost three-month high as corruption... Continue Reading →
Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53 billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the chief executive officer by putting the enlarged company in pole position to exploit a market upturn. Shell’s shares will rise about 12.2 percent in the next 12 months, the most among the... Continue Reading →
Rio de Janeiro, March 8, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the amount of US$ 1 billion, associated with the financial leasing of P-52 platform, signed with ICBC Leasing (Industrial and Commercial Bank of China Leasing) and announced to the market on October 13th,2015, was disbursed today. The transaction has a 10... Continue Reading →
Mar 8, 2016 A passenger plane flies over a Shell logo at a petrol station in west London, in this January 29, 2015 file photo. REUTERS/TOBY MELVILLE/FILES Royal Dutch Shell will start in coming days a new exploration phase in the BC-10 project off the coast of Brazil, where it has already invested more than... Continue Reading →
Brazil’s real strengthened, defying a slump in emerging-market currencies and reversing an earlier loss, after the central bank stepped in to boost the supply of dollars in the market. The currency advanced 0.3 percent to 3.7743 per dollar as of 1:49 p.m. in Sao Paulo. The central bank announced it will auction as much as... Continue Reading →
The impeachment campaign against Brazilian President Dilma Rousseff regained momentum last week after police questioned her predecessor Luiz Inacio Lula da Silva on allegations he benefited from a kickback scheme at state-run oil company Petrobras. Markets rallied on hopes that the latest development would speed up a resolution to the political stalemate that has... Continue Reading →
Marcelo Odebrecht, the former head of one of Brazil’s largest industrial conglomerates, was sentenced to 19 years and four months in jail for crimes including corruption and money laundering. Odebrecht, who ran the Odebrecht SA holding company that owns Latin America’s largest builder until he was arrested last year, was convicted of crimes including corruption,... Continue Reading →
Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA is escorted by Federal Police officers as he arrives at the Institute of Forensic Science in Curitiba, Brazil, June 20, 2015. REUTERS/RODOLFO BURHER March 8,2016 The former chief executives of major Brazilian builders Odebrecht SA [ODBES.UL] and OAS Empreendimentos SA [OAS.UL]... Continue Reading →
France’s Total SA is weeks away from drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Uruguayan waters. "There could be an elephant out there. This is what we’re chasing," Christian Tichatschke, Total’s exploration director in Uruguay, said in an interview... Continue Reading →
One person was burned when a unit that makes diesel ruptured on Saturday morning in a ground-shaking blast at the Pasadena, Texas, refinery owned by Brazil's national oil company Petrobras, the company said. Petrobras said in a statement the fire, which started around 10:15 a.m. CT, had been contained by mid-afternoon at the 100,000 barrel... Continue Reading →
