Exxon Makes Major Bet on Brazil as Petrobras Eases Its Grip

By Sabrina Valle and Kevin Crowley (Bloomberg) -- In a single year, Exxon Mobil Corp. has gone from being a tiny bit player in Brazil to the second-largest holder of oil exploration acreage, trailing only state-controlled Petroleo Brasileiro SA. The last 24 concessions the U.S. giant bought with its partners may hold 41 billion barrels, based on preliminary … [Read more...]

Maersk Container Overbookings Delay Brazilian Exports

by Marcelo Teixeira (Reuters) - Brazilian exporters are facing delays shipping goods transported in containers, including coffee and cotton, due to overbooking, the world’s largest container shipping company, A.P. Moller-Maersk,  said on Monday. In a report on its operations in Brazil, Maersk said exports fell for the second quarter in a row, citing the practice of some … [Read more...]

Coffee Exporters Struggle to Find Ships for Brazil’s Bumper Crop

By Marcelo Teixeira and Marcy Nicholson SAO PAULO/NEW YORK, Aug 23 (Reuters) - Brazilian coffee exporters are struggling to find shipping capacity to transport a bumper crop from the world's top producer, which could result in supply delays to roasters worldwide. Abundant overall supplies in consuming countries, however, will limit any near-term impact from shipping delays … [Read more...]

Brazil Charges Former Vantage Drilling CEO with Corruption

BRASILIA, July 12 (Reuters) - Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials. Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a … [Read more...]

Disgraced Brazilian Tycoon Eike Batista Sentenced to 30-Years for Corruption

By Brad Brooks SAO PAULO, July 3 (Reuters) - Eike Batista, the former mining and oil magnate who was once Brazil's richest man, was convicted and sentenced to 30 years in prison for bribing Rio de Janeiro state's disgraced ex-governor, according to a court document published on Tuesday. Batista's conviction and sentencing by federal judge Marcelo Bretas are the latest in a … [Read more...]