Brazil will start discussions on joining the Organization of the Petroleum Exporting Countries during a visit to Saudi Arabia in July, its energy minister Bento Albuquerque said on Wednesday. "I have a visit to Saudi Arabia in the middle of this year, then we can start the discussion," Albuquerque told Reuters, adding that Brazil's membership in OPEC would not happen this year. Brazil's president mooted the idea of joining OPEC in October but the idea was not welcomed by industry as producers feared that Brazil would have to comply with output cuts which OPEC and other producers have agreed to. When asked if his country would cap output in line with OPEC terms, Albuquerque said: "It is a matter of negotiations, we have to start discussions.

Jan 22, 2020 - Agencia Brasil

Brazil has shown a marked increase in foreign investment over the last year, pushing it from sixth to 4th in the rankings of the main destinations for foreign investment in the world. According to a report by the United Nations Conference on Trade and Development (UNCTAD), Brazil received US$ 75 billion in external investment last year, compared to US$ 60 billion in 2018. The U.S. topped the list, attracting a quarter-of-a-trillion dollars, while China came in second with US$ 140 billion. South America as a region attracted US$120 billion, with the lion's share of that going to Brazil. The 25% increase in external investment in Brazil in 2019 is reported to have partly stemmed from the country's privatization program, which focused on the sale of subsidiaries of state-controlled companies and government shares at private firms.

Jan 22, 2020 - IndiaToday

Brazil President Jair Messias Bolsonaro will visit India from January 24-27 on the invitation of Prime Minister Narendra Modi to be the chief guest at the 71st Republic Day Parade on January 26. During the visit, the two leaders will hold bilateral talks followed by joint press statements on Saturday. The Brazilian president is coming with a significant business contingent and the focus would be to boost trade and economic ties between the two countries. The two-sided will also focus on converting ethanol into energy and boosting the tradition oil and gas trade.

Jan 22, 2020 - Sportsfinding

Abengoa is moving towards resolution of the bankruptcy proceedings in which most of its subsidiaries in Brazil incurred. After overcoming at the end of 2019 the bankruptcy of its businesses related to the construction and operation of infrastructure (power lines, mainly), the next step concerns bioenergy. In this process, Mario Dedini Ometto and Adriano Gianetti Dedini Ometto are negotiating the purchase of the São Luiz plant in Pirassununga, in the State of São Paulo. Brazilian businessmen seek to incorporate a partner to present an offer, according to the Brazilian press. Abengoa Bioenergía has two electric cogeneration plants in Brazil, São Luiz and São João, in Boa Vista, also in the State of São Paulo, which use sugarcane bagasse, the raw material used in its own plants for the manufacture of sugar and ethanol.