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RIO DE JANEIRO, Brazil--Four miles under the ocean's surface off Brazil's lush coast lie billions of barrels of recently discovered light crude--a treasure that could transform the...READ MORE

(BRASILIA, Brazil)Brazil's president says he is confident his country's state oil company will stay in Ecuador despite a brewing battle with that nation's government. President Luiz Inacio Lula da S...READ MORE

(QUITO, Ecuador)Ecuador's president is threatening to nationalize an Amazon oil field if Brazil's state oil company doesn't hand it over quickly. President Rafael Correa says Petroleo Brasileiro S...READ MORE

(HOUSTON)Oil and gas companies Anadarko Petroleum Corp. and Devon Energy Corp. announced Tuesday an oil discovery off Brazil in the Campos Basin. The well is in approximately 4,650 feet of ...READ MORE

(SAO PAULO, Brazil)President Luiz Inacio Lula da Silva is promising the global credit crisis won't halt big infrastructure projects in Brazil. Silva says work will continue on Amazon hydroelectric da...READ MORE

(RIO DE JANEIRO, Brazil)Brazil's state-run oil company Petrobras says it broke its monthly domestic production record in August. Petroleo Brasileiro SA says it produced 1,885,196 barrels per day last mont...READ MORE

(NEW YORK)Oil tanker owner and operator Ship Finance International Ltd. said Tuesday it agreed to acquire two drilling rigs from Seadrill Ltd. for $1.7 billion.READ MORE