Devon Energy Sells Off Brazil Assets
By Mark Beresford, Senior Contributing Reporter RIO DE JANEIRO – The largest U.S.-based independent natural gas and oil producer Devon Energy could disclose this week more details about progress in the much anticipated sale of its Brazilian assets, when it holds its year-end 2009 conference call on Wednesday February 17th. Oklahoma City-based Devon Energy put [...]
Mixing Business and Pleasure, YPHH
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – For many people new to town in the last two years, the Young Professionals Happy Hours (YPHH) have been the perfect occasion for opening doors to new social relationships and business opportunities. The first event of 2010 – a Feijoada party on Saturday afternoon at the [...]
Chevron in Big Offshore Investment
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – US oil giant Chevron said January 27th that it is committed to the development of a US$5.2 billion offshore project in the southern Campos basin, its largest investment to date in Brazil. Chevron holds a 37.5 percent interest in the Petrobras-operated Papa Terra field, which has [...]
Brazilian Airline Azul Wins US Investor
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – Brazil’s youngest airline, Azul, has new investors, the US private equity firm Texas Pacific Group, which on January 22nd confirmed that it had acquired a stake in the fast growing carrier. Azul started flying on December 15th, 2008, and was founded and is chaired by David [...]
Luxury Development in Ipanema
By Mark Beresford, Contributing Reporter A new property development on Rua Joana Angelica, just off the landmark Ipanema Beach’s Posto 9, marks the latest expansion by Rio luxury developer Concal, which for nearly forty years has dominated the top end market in the Zona Sul of the city. The Conde de Mallorca development is composed [...]
China Over U.S. in Brazilian Exports
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – Brazilian exports to the US fell by 42 percent in 2009, to US$15.7 billion, with China replacing the US as Brazil’s top export market, with US$19.9 billion of exports, or more than 13 percent of all Brazil’s exports, according to figures released by the Ministry of [...]
Landslides Kill 68 in Rio State
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – The state government of Rio de Janeiro has closed off part of the popular tourist destination of Ilha Grande, following a series of landslides that have caused at least 68 deaths in the state, blocked roads across the coastal regions of Rio and Sao Paulo, and [...]
Bunge Bets Big on Brazilian Sugar
By Mark Beresford, Contributing Reporter RIO DE JANEIRO – American agribusiness company Bunge is more than doubling its sugar cane milling capacity in Brazil, by acquiring sugar and ethanol producer Moema for US$452 million in stock. The deal gives Bunge full ownership of a Brazilian sugarcane mill and interests in five other mills. If Bunge [...]