Chilean regulator approves Codelco and SQM joint venture
Codelco announced in a Thursday statement that Chile's competition regulator had approved the deal between Codelco and SQM, the state-run copper company, to create a joint venture for the expansion of lithium production on the Atacama Salt Flats. In a statement, the FNE regulator in China has yet to approve the deal. This approval is expected to be incorporated into the decisions made by the European Union…
Xi said that China's climate action will not be slowed down despite the global political changes.
According to the official Xinhua News Agency, President Xi Jinping stated on Wednesday that China's efforts to combat climate change would not be slowed down despite political developments around the world. Xinhua reports that Xi spoke at a video conference organized by the United Nations, Brazil and other countries to discuss climate changes and "just energy transformation".
Raoni, the indigenous leader of Brazil, says he opposes drilling for oil in Amazonia
Raoni Metuktire of the Kayapo tribe, an indigenous leader, said that Brazil should not explore for oil reserves in the Amazon because it could have a dangerous impact on the local communities. Raoni made his comments at Acampamento Terro Livre as the debate intensifies over Petrobras's bid to drill off the coast of Amapa in the Foz do Amazonas Basin, a sensitive area of the Amazonian State.
Consultancy: Low sugar stocks in Brazil encourage mills to increase early production
Sugar stocks in Brazil’s center-south were 70% lower than the average historical level in the first quarter. This led mills to allocate more cane early in the season, resulting in a higher sugar production. Stocks dropped after a record 2024 export and a lower 2024/25 crop (April/March), said Mauricio Muuci, a consultant at Safras & Mercado.
Brazil prepares a new oil auction amid trade war threats to budget, sources claim
Four people with knowledge of the situation said that Brazil is planning to auction off stakes in offshore oil fields this year as a way to increase revenue. The plan has gained momentum amid declining oil prices and increasing global trade uncertainty. Two sources who spoke under condition of anonymity said that the auction would involve smaller and uncontracted portions of the Tupi, Mero, and Atapu pre-salt fields.
Bolivians tighten their belts after a new reality of inflation bites
Angelica Zapata, a Bolivian homemaker in La Paz's highland, is learning to accept a new reality of inflation. Prices are rising at their fastest rate in nearly two decades due to the shortages in fuel and dollars. Landlocked gas and grain producers are facing their most severe economic crisis since the global financial crises. Foreign currency reserves have been dwindling due to stalled exports and energy production…
Petrobras has completed the animal care center needed for offshore license
Petrobras, Brazil's state-run oil firm, has finished the work required to get an environmental permit in order to drill offshore. The company announced this on Saturday. The Animal Care Center in Oiapoque in Amapa State is designed to help animals in case of an oil spill. Ibama, the Brazilian environmental agency, made this demand in response to Petrobras’ proposal to drill offshore near Foz do Amazonas.
Africa's top climate negotiator insists on 'no backwards' in commitments
According to the chair of Africa's group of negotiators, given the threat of global warming and progress made so far, there is no other choice than to continue with climate commitments, despite the United States withdrawing from a key international agreement. The Trump administration withdrew for the second year in a row from the historic…
Brazil's Eike Batista eyes new $500 mln Gulf investment in 'supercane' project
Eike Batista was once Brazil's richest businessman. He said that a Gulf investor would soon announce a $500-million investment in his project to use modified sugarcane for the production of sustainable fuels. Batista said that the project had already received $500 million in funding from Sao Paolo's private development bank Brazilinvest…
Shell cancels onshore and solar wind projects in Brazil
Shell has announced that it will discontinue its solar and wind energy generation projects in Brazil as part of "portfolio adjustments", the company stated on Thursday. The move is made in an unfavorable climate for renewable energy investments in Brazil. Projects have been unable to be implemented because of a lack of demand, slow growth in supply, and regulatory issues.
Brazil's sugar crushing fell by 18% during the first half of March.
Unica, a Brazilian industry group, said that the amount of sugar cane crushed in the center-south region in Brazil during the first six months of March was down almost 18% compared to the same period last year. Unica reported that the sugar production in the area during the same time period fell by 19%, to 52,000 tonnes, while the ethanol production increased by around 20%, at 442 millions liters.
The deadline for Petrobras' deal with the vessel puts pressure on Foz do Amazonas
According to a government document, Petrobras must receive an environmental permit to drill in the Foz do Amazonas sensitive region before the end of April. Otherwise it will not have enough time to complete the contract for a drilling vessel in October. The document, made public on Tuesday, sets a deadline for Petrobras. It has been waiting for the Brazilian environmental agency Ibama…
Russian central bank expects low oil prices to continue for a while
The Russian central bank warned Kremlin policymakers that the United States and OPEC could flood the oil markets and cause a similar price collapse to what occurred in the 1980s, which led to the fall of the Soviet Union. The warning was issued weeks before Russian President Vladimir Putin and U.S. president Donald Trump began negotiations to end the conflict in Ukraine.
Brazil's Minister says that the US tariff talks will continue, and he links ethanol to sugar
The Brazilian Finance Minister Fernando Haddad stated on Thursday that his government anticipates long tariff negotiations with the United States. He also suggested that they will include trade discussions regarding sugar and ethanol. "They will not make Brazil an exception, as they are at war with the world." He told GloboNews TV that this would not happen.
Brazil Ministry says that tests have confirmed the increase of ethanol in gasoline to 30%.
In Brazil, the gasoline contains 27% anhydrous alcohol. The demand for ethanol would be increased in Brazil if the proportion was raised to 30%, also known as E30. "With E30, we will be independent of gasoline imports for the first time since 2010," said Minister of Mines and Energy Alexandre Silveira during a presentation highlighting the test results.
Petrobras animal center at Oiapoque will be ready for inspection by April
Documents seen by on Monday showed that the environmental agency Ibama should be able to inspect the veterinary center operated by Petrobras Brazil in the Amazon region in April. The center is designed to help animals in case of an oil spill. Petrobras has not yet met the demands of Ibama to build an animal care center near the Amapa state town of Oiapoque.
Chinese Companies Shy Away From Russian Oil
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said.Russian oil supplies to top buyers India and China fell sharply following the January 10 sanctions…
Citi estimates that Brazil corn ethanol will almost double in production by 2032.
Citi Investment Bank said that Brazil's corn ethanol production will almost double by 2032 to 16 billion liters, citing the rapid growth of the industry. Citi estimates that Brazil will produce 6.3 billion liters (or ethanol) of corn in 2023-2024. The bank expects this to increase to 9.5 billion during the current crop season. The note stated that Brazil had 22 corn ethanol plants in operation as of last year.
Report: Brazil may reduce ethanol import taxes as a nod to Trump
The newspaper O Globo, citing reliable sources, reported that the Brazilian government was considering reducing import taxes on ethanol as a means to reduce inflation and appease U.S. president Donald Trump. The report stated that Brazil hopes to try to convince the U.S. Government to make an exemption for the Latin American country in the recently announced 25% tariffs on aluminum and steel imported.
Staff of Brazil's Ibama recommend against Petrobras drilling Amazon region
Two sources with knowledge of the matter said that the technical staff at Brazil's environment agency Ibama recommended to the body that it deny Petrobras permission to drill in the environmentally sensitive Foz do Amazonas area. Rodrigo Agostinho, Ibama’s president, will make the final decision. Brazil's president Luiz Inacio Lula Da Silva has put pressure on the agency by saying earlier this month…
