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Brazil


Petrobras, Eletrobras Win $1.23 Billion Contracts to Sell Power

At an energy auction in Brazil, PETR4 and ELET6 won contracts to sell almost 17,400 gigawatts-hours of electricity. The two companies will receive $1.23 billion under three-year contracts. The contracts will take effect at the start of 2015. by Vanessa Dezem, Bloomberg, December 5, 2014 Petroleo Brasileiro SA (PETR4) and Centrais Eletricas Brasileiras SA (ELET6) won…

Oil price drop hits Latin America

Oil price drop hits Latin America

While Mexico and Venezuela must open up their oil sectors to outside investment, Brazil needs technology and financing for its offshore reserves in the Atlantic Ocean. Venezuela is desperate due to the effects of the slump in oil prices and their failed attempt to convince OPEC to trim production. by Paul Welitzkin, China Daily, December 1,…

Al Gore Stresses Brazil’s Importance in Climate Change Battle

Former U.S. Vice President Al Gore has stated how important Brazil has been in fighting the global warming battle as it has had great success is reducing greenhouse gas emissions and slowing the rate of deforestation on the Amazon. Gore spoke at a Climate Reality Leadership Corps Training session in Rio de Janeiro on Wednesday…

Brazil October LNG imports up 102% on month

Brazil October LNG imports up 102% on month

During the month of October, imports of liquefied natural gas in Brazil rose 102% to 1,257,028 cubic meters. The high amount of imports are due to the severe drought the country is still facing. by J. Robinson, Platts, November 4, 2014 Brazilian imports of liquefied natural gas surged 102% during October totaling 1,257,028 cubic meters, up…

Brazil gives go-ahead to 31 solar parks in push for new energy

On Friday, Brazil granted contracts for the construction of 31 solar parks marking its entry into the solar power sector. This move was largely caused by the worst drought the country has faced in eight decades that has led to a huge energy crisis. The 20-year energy supply contracts are expected to start feeding the…

Offshore E&P activities ramping up in Latin America

Latin American nations are ramping up offshore exploration, development, and production activities. This increase is largely due to discovery of new reserves in Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Peru, and Venezuela. The economic future of these countries is dependent on their under-explored hydrocarbon region. by Robin Dupre, Offshore Magazine, October 29, 2014 Offshore exploration, development,…

Brazil’s OGPar expects Tubarao Martelo output to peak at 30,000 b/d in 2016

Brazilian oil producer OGPar expects outputs from Tubarao Martelo to peak at about 30,000 barrels per day in 2016. Over the next few years, the company will invest $200 – $500 million in two additional production wells and three additional injection wells at the field in order to increase production. by Jeff Fick, Platts, October 21,…

Brazil protects giant swathe of Amazon rainforest

Tuesday, the Brazilian government announced it put an area of the Amazon rainforest under federal protection. The environmentally rich area is larger than the U.S. state of Delaware and has been named Alto Maues. Under protection as a federal reserve means that forest clearing and similar development in the area are forbidden. by Marcelo Teixeira, Reuters,…

China faces risks in Brazil’s energy sector

Since 2009 China has invested over $10 billion for oil development in Brazil. Currently, due to price controls, local content requirements and the looming Brazilian presidential election, the investment is entering a cautious mode. by Paul Welitzkin, China Daily USA, October 12, 2014 China has put billions in Brazil’s energy sector since 2009, but a report…

Bolivia’s YPFB confirms talks with Petrobras to extend natural-gas supply deal

Petrobras is in talks with its Bolivian counterpart Yacimientos Petroliferos Fiscales Bolivianos to extend the natural-gas supply contract that is set to expire in 2019. The new contract will cover 2020 and beyond. Petrobras currently imports around 30 million cubic meters of natural gas a day from Bolivia due to the fact that Brazil is…

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Site Last Modified: December 18, 2014