Oil Company News
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Updated 1 hour, 18 minutes ago
Rodolfo Landim, who in 2007 helped Eike Batista set up an oil business before falling out with the billionaire, is competing with his ex-boss to extract crude and gas from northeastern Brazil.
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The Ibovespa equity benchmark rose to a two-week high as Centrais Eletricas Brasileiras SA led gains by Brazilian electrical utilities amid speculation that recent losses may have been excessive.
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Mexico President Enrique Pena Nieto’s reform agenda that includes legislation to end the monopoly of state-owned Petroleos Mexicanos faces delays due to a shake-up in the former ruling party’s leadership.
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Most Brazilian stocks dropped as a report forecast to show that job growth stalled last month added to concern that the recovery in Latin America’s biggest economy is faltering.
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GlassPoint Solar Inc.’s completion of the first Middle Eastern solar plant that makes steam to extract crude from aging oilfields, on time and under budget, will help encourage orders in the region for the producer’s technology.
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Updated 12 minutes ago
The investigation into possible oil- price fixing gathered pace as trading houses from Glencore Xstrata Plc, the $70 billion mining firm, to Gunvor Group Ltd. were asked to provide information to European regulators.
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China’s net exports of gasoline remained near the highest level in a year amid the nation’s weakest domestic oil demand in eight months.
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Mota-Engil SGPS SA, the Portuguese construction company that said March 20 it was seeking $5 billion of contracts in Africa, is now looking at an even larger figure, its chief executive officer said.
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The most-indebted U.S. companies are rallying more than any time in almost four years compared with the rest of the stock market amid the broadest rally since at least 1995.
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U.S. stocks declined, after the Standard & Poor’s 500 Index climbed four straight weeks, as investors weighed the pace of central bank stimulus efforts amid corporate dealmaking.
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