Petrobras will get a little over USD 9 billion to settle an oil contract dispute with the Brazilian government, a move that ends longtime negotiations and paves the way for Big Oil to access the massive oil deposits in Brazil.
The number of casualties is growing after one of Vale's dams in Brazil collapsed. Now, the mining giant is considering freezing dividend payments to shareholders and bonuses to the management of the company.
New corruption charges have now been filed against eight former executives from controversial oil major Petrobras, reports Reuters. The case concerns the awarding of contracts to three drilling vesels.
After the Hamburg Süd acquisition, Maersk Line is left without a direct connection to Northern Europe from Brazil's powerhouse and most important port for the country's billion-dollar food exports, says Brazilian shipping analyst, who describes it as a huge challenge for the company. Maersk denies that its service is weakened.
Norway's Statoil has bought 25 percent of a large Brazilian oil field from Petrobras for upwards of USD 2.9 billion. With the acquisition, the oil major almost triples its production in Brazil, says Statoil in a press release.
Global terminal operators are looking toward Brazil, which is planning to build a new port terminal. The terminal will be tendered off in 2018 and could end up in Chinese hands, predicts Alphaliner. DP World has also acquired a terminal in Santos.
Two former Brazilian presidents, Dilma Rousseff and Luiz Inácio "Lula" da Silva, have been officially charged in the bribery case concerning hundreds of millions of dollars and the country's oil company Petrobras.
Statoil has great ambitions for Brazil where the company has now bought a bigger stake in field Caraca. In the long term, Statoil wants to achieve a daily output of around 700,000 barrels per day in Brazil, reports Dagens Næringsliv.
Michel Temer is facing mounting pressure shortly after secret recordings officially drag the president into the Petrobras scandal. He could remain in office despite minimal support from the population,
Maersk Energy is considering a sale of its Brazilian oil and gas activities, CEO Claus Hemmingsen tells Reuters. He also projects that the split of the energy unit will result in individual "stand-alone" companies, as it is difficult to locate any synergies.