Entries by Gelcy Bueno

Brazil’s oil regulator to list subsalt areas for auction

Brazilian regulator ANP plans to present a list of subsalt offshore exploration areas by early February for the government to consider auctioning at the end of the year as part of what the agency’s new head called a historic opening of the nation’s oil sector. Décio Oddone, who took the job this month, said in […]

Bankruptcy filings for big Brazil firms seen hitting another record

A growing number of large Brazilian companies will seek protection from creditors in 2017, hitting a record for a third straight year due to a harsh recession and tight credit conditions, bankers and lawyers said on January 30th. New bankruptcy filings from companies with annual revenue surpassing 50 million reais ($16 million) are expected to […]

Brazil to open airlines, agricultural land to foreign buyers: sources

President Michel Temer will propose legislation to lift restrictions on foreign ownership of airlines and agricultural land in Brazil as he strives to pull the economy out of a two-year recession, government sources said on January 30th. Temer’s center-right government plans to send Congress a bill allowing 100 percent foreign ownership of airlines, though investors […]

Maersk weighs sale of Brazil oil and gas assets

A.P. Moller-Maersk (MAERSKb.CO) is considering selling its oil and gas business in Brazil as the shipping giant’s energy group narrows operations in a restructuring, its chief executive said. While the group has given itself two years to decide on the exact strategy, Maersk Energy is clearly focusing on its two major developments that are planned […]

Brazil sees opportunities if Trump pursues protectionism: minister

Brazil has an opportunity to strengthen ties with Pacific and European nations that could be targeted if U.S. President Donald Trump pursues protectionist policies, the Brazilian trade minister said on January 26th. In an interview , Trade Minister Marcos Pereira pointed to Mexico, a longtime competitor for trade and investment in Latin America, as one […]

Brazil plans flexible iron ore royalty rate of 2-4 percent: report

Brazil’s government plans to introduce a bill to set a flexible royalty rate for iron ore that would be between 2 percent and 4 percent depending on international prices for the steelmaking raw material, Broadcast reported on January 26th. The current iron ore royalty rate is 2 percent. In an interview with Broadcast, the real-time […]

Brazil plans to privatize Sao Francisco river transfer

Brazil is studying private operation of the long-delayed Sao Francisco river transfer that will bring water to four states in the drought-stricken North East of the country when it is completed this year, a government official said on January 27th. President Michel Temer will visit the project on January 30th to open the third of […]

Brazil’s inflation falls to lowest in nearly three years

Brazil’s inflation rate slowed more than expected in mid-January, falling below 6 percent for the first time in nearly three years and reinforcing market bets on steep interest rate cuts by the central bank. Consumer prices as measured by the IPCA-15 index rose 5.94 percent in the 12 months to mid-January, slowing from an increase […]