Why Petrobras’ Production Keeps Declining

Oil company recorded a new fall in May, having produced the lowest volume since April 2016

Oil company recorded a new fall in May, having produced the lowest volume since April 2016

Costly Dollar Concerns Distributors Again

The rise in the value of the American currency may lead Aneel to grant extraordinary tariff readjustments to concessionaires that buy energy from Itaipu

The rise in the value of the American currency may lead Aneel to grant extraordinary tariff readjustments to…

Russia’s Gazprom To Invest US$ 1.2 B In Bolivia

Russia's Gazprom will invest about US$ 1.2 billion in the country, which is still trying to certify its production fields

Russia's Gazprom will invest about US$ 1.2 billion in the country, which is still trying to certify its production…
From the Media

Jun 22, 2018 - Eco Business

In Brazil, the energy intensity of the economy has remained conspicuously unchanged since 1990, when the country used less than four terajoules of energy per US$1 million of GDP. The research group Climate Transparency rates Brazil’s recent developments (2009-2014) as “very poor.” In contrast, China has witnessed steady improvements in its energy intensity, with recent performance rated as “very good”. These improvements are linked to centrally planned programs designed to optimize the country’s energy efficiency that were first launched in the 1990s.

Jun 22, 2018 - Reuters

Brazil’s government is considering November 29 for a much-anticipated auction of choice oil blocks in the offshore Santos basin, although it must first resolve a long-running dispute with Petrobras SA over the cost of adjacent areas.“The auction is pre-scheduled for November 29,” the Mining and Energy Ministry said on Twitter on Wednesday night, after the lower house of Brazil’s Congress approved the first draft of a law authorizing Petrobras to sell stakes in the area.The choice reserves are part of the “transfer-of-rights” area that the government passed to Petrobras at a price that remains in dispute. Negotiations since 2014 to resolve the dispute have been contentious, as both parties have claimed to be owed billions of dollars.

Jun 22, 2018 - ICIS

A merger between LyondellBasell and Brazil-based Braskem would create a colossal polyolefins producer – the world’s largest – with leading positions throughout the Americas. On 15 June, LyondellBasell and Braskem’s controlling shareholder Odebrecht announced exclusive discussions on a potential transaction. Rumblings of merger talks initially emerged in a 30 October 2017 report in the Wall Street Journal. It would be a stunning coup for LyondellBasell to merge with Brazil’s polyolefins champion. In one fell swoop, it would take over just about the entire Brazil polyethylene (PE) and polypropylene (PP) market, and much of the Mexico PE market through Braskem’s 75% stake in Braskem Idesa.

Jun 21, 2018 - Financial Times

Policymakers at Brazil’s central bank unanimously stood their ground leaving the benchmark interest rate unchanged on Wednesday following a brutal market sell-off earlier this month. The bank held its key Selic rate at a record low of 6.5 per cent, as expected, after the central bank chief, Ilan Goldfajn, warned that monetary policy was not to be used to control foreign-exchange moves. Rapid falls in the real spurred a debate over whether Brazil would need to increase interest rates, like Argentina. Although consumer prices spiked last month to 2.86 per cent, and analysts predict they will take another leap in June after a nationwide truckers’ strike, economists argue that with inflation still at twenty-year lows and the economy running at undercapacity, higher interest rates would be unreasonable.