Petrobras has discovered a significant natural gas reserve in the Caribbean Sea. Its aim is to collaborate with other corporations, transforming Colombia into a gas exporter. This plan includes potential partnerships with companies like Saudi Arabia's Aramco, which is already affiliated with the Brazilian gasoline brand in Chile. Petrobras announced, "We're using our Chilean partnership to strategize our entry into Latin America's product market." This strategy forms a key part of a broader initiative to revitalize operations in Bolivia and tap into significant natural gas reserves in the Colombian Caribbean. It also aims to expand natural gas projects in Argentina and compete for marine exploration opportunities in Suriname.

Nov 27, 2023 - Reuters

Argentine President-elect Javier Milei on Sunday invited Brazil's President Lula to his Dec. 10 inauguration and praised their countries' ties, again softening his tone with a figure he had harshly criticized before. Milei said in a letter to Lula, which he reposted on social media X, that he wishes to keep sharing "complementary areas" with the neighboring country so both can achieve "growth and prosperity," citing their trade and global footprints. The letter marks yet another shift from the radical libertarian, who during his campaign dubbed Lula an "angry communist" and suggested he would balk at doing business with Brazil, Argentina's top trade partner.

Nov 27, 2023 - REVE

Brazil is expected to approve regulations this year to enhance its participation in the booming global wind energy market. It is expected to jump from 10 GW in 2022 to 46 GW in 2030, according to a report prepared by the consulting firm A&W in collaboration with the Brazilian Wind Energy Association (ABEEólica). According to the study, for every gigawatt of offshore capacity, between 11,000 and 34,000 jobs can be created throughout the production chain. A 2020 report published by the Energy Research Company (EPE) linked to the Ministry of Mines and Energy showed that Brazil’s technical potential to generate electricity through the installation of offshore wind turbines reaches 700 GW.

Nov 27, 2023 - The Economist

South America’s largest economy is a tricky destination for capital. Investors, previously wary that the re-elected president, Luiz Inácio Lula da Silva, would repeat his party’s disastrous spending spree of a decade ago, had been calmed by promises of a new fiscal framework and tax reform. But in October Lula said the government would “hardly” meet the fiscal target proposed by its efficient new finance minister, Fernando Haddad. And Brazil’s economy is winding down—GDP growth dropped to 0.9% in the second quarter, from 1.9% in the first. Those concerns will be reflected by foreign direct investment data for October, due on Monday. Between January and September Brazil received the least FDI since 2020, in a 40% drop from the same period in 2022. Economists expect the latest forecast to show $65bn for 2023—well short of the $90.5bn in 2022, a ten-year record aided by high commodity prices.

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