Brazilian stocks have extended their year-to-date gain to about 20% on renewed optimism that Latin America’s largest economy will finally overhaul its heavily indebted social security system. But the rally that has pushed the market to record highs still may have some juice left. The benchmark Ibovespa index may climb 11% from current levels to about 115,000 by the end of 2019, according to the average forecast of 10 strategists surveyed by Bloomberg. Their targets range from 105,000 to 123,000, implying an increase of as much as 18%. That would mark the fourth year of double-digit gains for Brazilian stocks.

Jul 18, 2019 - Rigzone

Brazil leads the global deployment of planned and announced (P&A) floating production, storage and offloading (FPSO) vessels to 2025, according to GlobalData.A total of 20 P&A FPSOs are expected to be deployed offshore the country during the time period, GlobalData pointed out, highlighting that among these, 11 have identified development plans while the rest are early stage announced that are ongoing conceptual studies and are expected to be approved.Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) will operate 13 out of the 20 FPSOs, GlobalData noted. Angola is expected to rank second in P&A FPSO Deployment to 2025 with five P&A FPSOs and Nigeria is expected to be third with four P&A FPSOs.

Jul 18, 2019 - BNAmericas

All of the major international oil firms that operate in Brazil have demonstrated their intentions to develop renewable energy projects in the country despite ample oil and gas reserves. The acceleration of investments in renewable power generation is seen as a response from the oil industry to the emissions reduction goals defined in the Paris Agreement within the United Nations Framework Convention on Climate Change. “The attitude of the oil sector has changed. It has already noticed it will be an agent in the transformation that is taking place and that it's not possible to fight this new reality,” the president of the business council for sustainable development (CEBDS), Marina Grossi, said.

Jul 18, 2019 - Sauer Energy

Canadian Solar, one of the world’s largest solar power companies, has announced that it has been awarded a 51.1 MW solar photovoltaic (PV) project in the Sixth Federal Energy Auction (A-4) held in Brazil on June 28, 2019. Canadian Solar will develop and build the project located in the State of Minas Gerais. With the construction of the solar project scheduled to begin in early 2021, and the plant expected to reach commercial operation before January 2023. This project will use the company’s latest high-efficiency bifacial poly modules, capable of generating power from both sides of a module, and thus significantly boost the power output from a solar power system. Approximately 130,000 BiHiKu modules will be installed.