China's State Grid Asks Brazil to Speed up Power Line License
State Grid Corp of China has asked the Brazilian government and regulators to speed up environmental licensing of a planned power line connecting to the Belo Monte dam in the Amazon forest, according to official documents and a source with direct knowledge of the matter.
China's State Grid Asks Brazil to Speed up Power Line License
State Grid Corp of China has asked the Brazilian government and regulators to speed up environmental licensing of a planned power line connecting to the Belo Monte dam in the Amazon forest, according to official documents and a source with direct knowledge of the matter.
Russia's VEB Sells Gazprom Back 3.6%
Russian state development bank VEB has signed an agreement with state gas company Gazprom to sell it a 3.6 percent stake of the gas firm, both said on Friday. Gazprom Chief Executive Alexei Miller said in a statement that Gazprom's…
Novatek CEO: Sanctions Hurt Yamal LNG, Upbeat on Plans
International sanctions have undermined the ability of Russia's Yamal LNG project to raise necessary funds but it will be launched as scheduled, Leonid Mikhelson, head of the plant's main shareholder, said in a televised interview on Tuesday.
Yamal LNG Financing in Final Stages
A deal to raise financing for the Novatek-led Yamal LNG project in Russia is in its final stages, Chairman of Gazprombank, Andrey Akimov, told Reuters. Gazprombank is a co-lender to Yamal LNG on the Russian side, along with Sberbank.
Arrested Brazil CEO drove profits, used politics
With nerves of steel and a relentless drive to grow, Marcelo Odebrecht took his family's Brazilian engineering conglomerate to places few companies dared to venture, like Libya and Cuba. In Brazil, he did something few businessmen…
Brazil: Petrobras Board Misled Investors
Brazil's securities industry regulator accused the former board of state-run oil producer Petrobras of setting a fuel pricing policy that misguided investors and hurt the company. The former board, which former Finance Minister Guido Mantega presided over for years…
Russia's VEB to Lend $1.2 bln to Power Plant Project in Argentina
Russian state development bank VEB would lend $1.2 billion to a hydro power station project in Argentina with the participation of Russia's state electricity holding firm InterRAO. InterRAO has won a tender to build Chihuido…
BNDES Cuts Brazil Oil-sector Investment Outlook
Brazil's state development bank BNDES said on Friday it cut its outlook for 2015-2018 oil and natural-gas sector investment by nearly 30 percent to 360 billion reais ($111 billion) from 509 billion in its previous estimate. The…
Vale CEO Ferreira to Lead Petrobras Board
Brazil's government has selected Murilo Ferreira, the chief executive officer of miner Vale SA, to head the board of state-run Petroleo Brasileiro SA, according to a filing from the oil company on Friday. The board will vote…
Petrobras Names Coutinho as New Chairman
Brazil's state-run oil company Petroleo Brasileiro SA said on Thursday Luciano Coutinho, the head of Brazil's state development bank BNDES, will be its new chairman. Coutinho will replace former finance minister Guido Mantega as chairman, the company said in a statement.
Brazil's State Banks Most Exposed to Petrobras Scandal
Brazilian state-controlled banks are most at risk over loans to oil producer Petróleo Brasileiro SA and third-party contractors in the oil services and construction industries, Moody's Investors Service said on Tuesday. An ongoing…
VEB Could Lend Novatek's Yamal LNG $1 Bln
Russian state development bank VEB could lend Novatek-led Yamal LNG project around $1 billion, Russian news agencies quoted VEB Chairman Vladimir Dmitriev as saying. He also said that VEB would co-finance Yamal-LNG with estimated…
Petrobras Funding Options Narrow as Scandal Deepens
Brazil's state-controlled oil firm Petrobras may have to hike fuel prices, cut spending or seek a capital injection from the government next year as a widening corruption probe threatens to temporarily leave it out of capital markets.
Brazil to Hold First Solar Power Auction
Brazil will take its first leap into commercial solar power generation on Friday with a rights auction of at least 500 megawatts of new solar parks, adding a new energy source as a drought reveals the danger of depending on hydropower.
Russia's Yamal LNG Project May Tap Wealth Fund in 2014
Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin…
Germany to Cut Support for Overseas Coal Plants
Germany plans to limit the financial support that the KfW state development bank can give to coal projects abroad, the environment ministry said on Thursday, falling into line with wider international efforts to limit global warming.
Another $2.9b in Loans for Brazil Power Sector
A pool of commercial lenders has agreed to extend an additional 6.6 billion reais ($2.9 billion) in emergency credit to Brazilian electricity distributors as drought causes power rates to soar, a senior finance ministry official said on Thursday.
Japan Loans Petrobras $500m to Build Ship Platforms
Brazil's state-controlled oil company Petrobras signed on Friday a $500 million loan from Japan to build eight ship platforms for the oil industry, as part of the visit of Japanese Prime Minister Shinzo Abe to Brazil. Japan will…
Japan PM Tells Brazil Time to do More Business
Japan's Prime Minister Shinzo Abe touted the success of his economic policies on a visit to Brazil on Friday and said it was time for the two nations to expand their trade and investment partnership. On the first visit to Brazil in a decade by a Japanese prime minister…
