Sources say that Brazil is aiming to attract foreign investment through a green development platform.
Brazil will launch a new platform on Wednesday to attract more foreign investment into sustainable development. The platform will highlight $8 billion worth of promising private sector projects, and look to triple this portfolio within a year. Four Brazilian officials who spoke anonymously about the program before a Washington launch event, held on the sidelines the meetings of the International Monetary Fund (IMF) and World Bank…
Petrobras signss agreement to supply Vale fuel with renewable content
Petrobras and Vale have agreed to sell Vale diesel containing renewable content. The two Brazilian giants announced the agreement on Friday. The agreement represents a concrete step by Vale in decarbonizing its operations. It also marks a victory for Petrobras, the state-owned oil company that is working to create a market for its sustainable fuels. Petrobras and Vale, two of Latin America’s largest companies in terms of market value, are both owned by Petrobras.
Brazil's Potencial will invest $109 Million to make the world's biggest biodiesel factory.
Grupo Potencial, a Brazilian company, announced Tuesday that it would invest 600 million reais (108.86 millions dollars) in order to increase the biodiesel production at one of their plants. This will give the facility the largest capacity of biofuel based on soy oil anywhere in the world. The Brazilian government has been working to expand the use of biofuels on local markets. The President Luiz inacio Lula da So will sign into law a bill called Fuel of the Future on Tuesday, to promote the gradual addition of biodiesel to diesel.
Brazilian Beaches Hit by Second Oil Spill
Crude oil smudges have been spotted at some Brazilian beaches in the northeast state of Ceará, the country's navy said on Monday, almost two months after the area was hit by another oil slick.That was part of a broader spill, whose origin remains a mystery, that stained hundreds of beaches on Brazil's northeast coast between September and November, threatening marine life, tourism and fishing.The navy said samples of the new spill were being sent for analysis to a marine studies institute…
Brazil Government to Pay Petrobras $9 Bln
The Brazilian government reached a landmark deal to pay state-controlled oil company Petróleo Brasileiro SA $9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said on Tuesday.Albuquerque told reporters after a meeting in Brasilia that the agreement opens the way for the government to auction off the excess oil in the transfer-of-rights area, a giant pre-salt oil reserve off the coast of Rio de Janeiro.The payment to Petrobras…
Brazil Likely to Pay Petrobras $10 Bln
The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms.The financial daily, citing a source with knowledge of the matter, said the payment was a reduction from a previous proposal of $14 billion. Valor in January had reported that the government had agreed on the higher figure…
Brazil Reaches Deal with Petrobras Over Transfer of Rights Area
The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday.Guardia declined to disclose values nor who is owed what under the terms of the agreement.
Engie to Finance Brazil Wind Farms with Forward Sales
The Brazilian unit of French gas and power group Engie SA is in negotiations to set up contracts forward-selling wind power that would allow it to build wind farms with 300 megawatts of capacity, its chief financial officer said on Friday.Engie Brasil Energia is negotiating the contracts on the so-called free market that would allow it to build new wind farms without going through Brazilian government auctions, its CFO Carlos Freitas…
Shell Brazil Evaluating Potential Purchase of Eletrobras Assets
Royal Dutch Shell's Brazil chief said on Wednesday that the company is evaluating the assets of Centrais Eletricas Brasileiras SA's that are being put up for sale as part of the state-owned utility's debt reduction and privatization plans.Andre Araujo also told reporters that the company was considering participating in an upcoming Brazilian government auction for projects in the wind energy sector.Reporting by Alexandra Alper, writing by Jake Spring
U.S. to Export Large Ethanol Volume to Brazil
The United States will export a large volume of ethanol to Brazil in 2018 despite the 20 percent import tax implemented by the Brazilian government this year, analyst Platts Kingsman said on Wednesday. Platts estimates the United States will ship around 1.7 billion liters of ethanol to Brazil in 2018, compared to a projected 1.8 billion liters this year. "Brazil will continue to be a net importer of ethanol next year, at levels similar to this year…
Brazil: 17 Firms Registered to Bid for Pre-salt Oil Exploration
A total of 17 companies have registered to take part in two rounds of bidding for licenses to explore pre-salt oil areas in Brazil, Oil and Gas Secretary Marcio Felix said on Thursday. The auctions next month include some of the most promising oil blocks in the world. Pre-salt oil, referring to reserves found beneath a deep layer of undersea salt, has been said to be of high quality and commercial value. The Brazilian government…
Petrobras Denies Brazil Govt Meddling in LPG Pricing Move
The Brazilian government is not meddling in pricing decisions by state-controlled oil producer Petróleo Brasileiro SA, which on Wednesday kept cooking gas out of a pricing system based on international parity. Chief Executive Officer Pedro Parente, speaking at a news conference, said the decision helps Petrobras comply with rules set by Brazil's most powerful energy policy body to help contain fuel costs for households.
Petrobras Sees Higher Oil Exports as Presalt Fields Develop
Brazilian government-controlled Petroleo Brasileiro SA expects higher oil exports this year than initial projections, Guilherme França, executive manager of trade and marketing, said Wednesday. Petrobras expects oil exports to reach 742,000 bpd by 2021 as the company advances development of its pre-salt oil reserves, which are capable of producing lighter varieties which are demanded internationally, França said. In March, França told Reuters in an interview that the company's oil exports would reach 450,000 bpd this year.
Brazil Pre-salt AuctionRules Rile Oil Firms
The Brazilian government has approved terms for another auction of exploration rights to high potential oil prospects, in the so called pre-salt layer, but oil firms are not totally happy with the rules. Brazil's Energy Ministry said on Thursday in the official gazette that it has cleared the round, which will be exclusive for adjacent sectors of existing exploratory areas. Brazil's government wants to speed up oil exploration as a way to boost economic activity and help the country overcome its worst recession on record.
Brazil to Get Data for Revision of Large Petrobras Contract
The Brazilian government will receive next month from the country's oil watchdog ANP the calculations to base the revision of a large contract with Petrobras known as the Transfer of Rights, the Energy Minister Fernando Coelho Filho said on Monday. The contract, through which the government exchanged some oil areas in its coast for Petrobras equity, will be revised this year. Analysts expect Petrobras to receive a large credit in the revision, which could be paid in cash or oil.
Brazil to Sell Operating Licenses for Five Hydropower Plants
The Brazilian government will auction off rights to operate five existing hydroelectric dams by Sept. 30, a notice published on Wednesday in the official gazette said. The five hydropower plants have a combined capacity to generate 2.93 gigawatts. Four of those plants are operated by Companhia Energética de Minas Gerais, or Cemig, which is still fighting in courts to retain the operating licenses for the plants. The auction is part of Brazil's drive to sell licenses for infrastructure and energy projects…
China's State Grid Asks Brazil to Speed up Power Line License
State Grid Corp of China has asked the Brazilian government and regulators to speed up environmental licensing of a planned power line connecting to the Belo Monte dam in the Amazon forest, according to official documents and a source with direct knowledge of the matter. State Grid, the world's biggest utility, fears it could have to delay construction of the line, possibly forcing the third-largest hydroelectric power dam to begin operating in 2019 below full capacity.
China's State Grid Asks Brazil to Speed up Power Line License
State Grid Corp of China has asked the Brazilian government and regulators to speed up environmental licensing of a planned power line connecting to the Belo Monte dam in the Amazon forest, according to official documents and a source with direct knowledge of the matter. State Grid, the world's biggest utility, fears it could have to delay construction of the line, possibly forcing the third-largest hydroelectric power dam to begin operating in 2019 below full capacity.
Exxon In Talks To Expand Into Brazil
Exxon Mobil Corp is in talks to gain access to Brazil's deep-water oil resources, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Exxon, the world's largest publicly listed oil company, has held talks about a joint venture through which it would invest in projects with Brazilian state-controlled Petrobras , the Journal reported. The talks also included discussions about potentially buying stakes in offshore tracts that the Brazilian government plans to lease out this year, the report said.
Ferrovial in talks to acquire Isolux projects in Brazil
Spain's infrastructure company Ferrovial SA is in talks to acquire from its Spanish rival Grupo Isolux Corsan SA <IPO-ISOL.MC> three power transmission projects in Brazil, according to a Ferrovial letter seen by Reuters on Friday. Isolux is undergoing debt restructuring in Spain and has stopped development of the power transmission lines, whose licenses it obtained from the Brazilian government in licensing tenders in 2014 and 2015.
