Petroleo Brasileiro SA’s worst debt position in a decade is boosting chances the Brazilian oil company will step aside and let Exxon Mobil Corp. and Royal Dutch Shell Plc buy offshore exploration licenses in Latin America’s biggest auction this year.
Larsen & Toubro Ltd., India’s biggest engineering company, is seeking partners to bid for airport and power projects in Asia and Africa after a slowdown at home cut sales growth to the least in 10 quarters.
Gary Goldberg, who will become chief executive officer of Newmont Mining Corp. March 1, said he’ll try to turn around the second-biggest gold producer’s underperforming assets before he considers selling them.
Iamgold Corp., a producer of gold in Suriname and Burkina Faso, dropped the most in two months after forecasting higher operating costs for 2013 as it mines lower- grade ore and starts up its Westwood project.
Tullow Oil Plc, the U.K. explorer focusing on Africa and Latin America, more than doubled write- offs in 2012 on unsuccessful wells in Guyana, Suriname and Ghana. The company will drill 40 wells this year.
Bank of Israel Governor Stanley Fischer celebrated the reconstruction of a South American synagogue transported to Jerusalem, giving tours in December to admiring donors. Yesterday it was Fischer who received plaudits for rebuilding, in this case the central bank and the economy it oversees.
Greenheart Group Ltd., a unit of tree-plantation operator Sino-Forest Corp., applied to resume trading in Hong Kong today after giving more details about its operations in Suriname and its ties to the parent.