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Ford's Brazil shutdown highlights automakers' woes with excess capacity

5 hours ago DieselGasoil Comments Off on Ford's Brazil shutdown highlights automakers' woes with excess capacity
SAO PAULO (Reuters) – Ford Motor Co’s oldest factory in Brazil, slated for closure later this year, was a giant among auto plants, occupying a sprawling 12 million square feet (111.5 hectares), bigger than many of the automaker’s U.S. facilities. The Ford logo is seen at the Ford oldest Brazil plant after company announced its Read More

TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brasil

6 hours ago DieselGasoil Comments Off on TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brasil
2/21/2019 Map: TGS Campos Basin, Brazil. HOUSTON — TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil. The survey will cover approximately 11,200 km2 within the granted permit area and will be acquired by Shearwater with the Amazon Warrior. The survey will provide contiguous 3D coverage over the highly prospective Read More

Brazil's Vale to pay $3,200 to residents to compensate for dam burst that killed 300

11 hours ago DieselGasoil Comments Off on Brazil's Vale to pay $3,200 to residents to compensate for dam burst that killed 300
A view of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho, Brazil February 13, 2019. REUTERS/Washington Alves SAO PAULO (Reuters) – Miner Vale SA said on Thursday it would pay adult residents in the Brazilian town of Brumadinho a total of 12,000 reais ($3,227.02) as compensation for the damage from Read More

Exclusive: Brazil's Odebrecht to propose bondholder losses of over 70 percent – sources

1 day ago DieselGasoil Comments Off on Exclusive: Brazil's Odebrecht to propose bondholder losses of over 70 percent – sources
The corporate logo of the Odebrecht SA construction conglomerate is pictured at its headquarters in Sao Paulo, Brazil August 3, 2018. REUTERS/Paulo Whitaker/File Photo SAO PAULO (Reuters) – Brazilian conglomerate Odebrecht SA next week will ask its bondholders to accept losses of more than 70 percent from their bonds’ face value as part of a Read More

Brazil's burgeoning crude production is OPEC’s next headache

1 day ago DieselGasoil Comments Off on Brazil's burgeoning crude production is OPEC’s next headache
By Sabrina Valle and Javier Blas on 2/20/2019 RIO DE JANEIRO and LONDON (Bloomberg) — When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market.  The mammoth facility — long Read More

Gold hits 10-month peak on growth worries; dollar slips

2 days ago DieselGasoil Comments Off on Gold hits 10-month peak on growth worries; dollar slips
NEW YORK (Reuters) – Gold prices rose to a 10-month high on Tuesday as concerns over a global economic slowdown spurred a safe-haven bid and were also supported by a weaker U.S. dollar, which fell on optimism for a breakthrough in U.S.-China trade talks. FILE PHOTO: Gold bullion is displayed at Hatton Garden Metals precious Read More

Ford exiting heavy truck business in South America

2 days ago DieselGasoil Comments Off on Ford exiting heavy truck business in South America
FILE PHOTO: The Ford logo is pictured on the company’s stand during the 88th Geneva International Motor Show in Geneva, Switzerland, March 7, 2018. REUTERS/Denis Balibouse DETROIT (Reuters) – Ford Motor Co on Tuesday said it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year Read More

BHP calls for international body to oversee tailings dams

3 days ago DieselGasoil Comments Off on BHP calls for international body to oversee tailings dams
FILE PHOTO: BHP Billiton’s chief executive officer Andrew Mackenzie poses at the company’s offices in Melbourne, Australia, February 15, 2018. REUTERS/Sonali Paul MELBOURNE (Reuters) – BHP Group called for the creation of an independent international body to oversee the construction, integrity and operations of tailings dams, which hold mining waste, after the second collapse of Read More

Citi to double Brazil commercial bank unit's assets by 2020

3 days ago DieselGasoil Comments Off on Citi to double Brazil commercial bank unit's assets by 2020
FILE PHOTO: The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo SAO PAULO (Reuters) – Citigroup Inc plans to double its Brazilian commercial banking unit’s assets by 2020, thanks to growth in loans to mid-sized companies, department head Antonio Rubens Read More

Vogue Brazil director quits after she’s accused of channeling colonial stereotypes at birthday bash

6 days ago DieselGasoil Comments Off on Vogue Brazil director quits after she’s accused of channeling colonial stereotypes at birthday bash
Vogue Brazil Style Director Donata Meirelles is the latest victim of racism-fueled scandals that have been battering fashion industry, after a photo of her on a ‘throne’ encircled by black women sparked outcry. The images taken at her lavish birthday celebration on February 8 caused widespread outrage among Brazil’s black community and ultimately cost Meirelles Read More