French supermajor, Total, is giving up operatorship of five exploration blocks offshore Brazil in an environmentally sensitive area for which it has failed to secure drilling permits numerous times. Total said that it had notified its partners last month that it is resigning from its role of operator of five exploration blocks in the Foz do Amazonas Basin, 120 kilometers (74 miles) offshore Brazil. Total has also notified Brazil’s regulator ANP of its decision to give up operatorship of the blocks, which opens a six-month period in which a new operator will be appointed.
The Philippines lifted its ban on poultry imports from Brazil after the Brazilian government presented coronavirus prevention measures, the Philippine Agriculture Department said. The Southeast Asian nation will however require poultry products from Brazil its third-largest source of chicken imports as of July to have labels stating these were handled in facilities with strict hygiene and sanitation measures, according to a memorandum issued by the Philippine agency. Shipments that won’t comply with these conditions will be confiscated.
Brazilian crude exports fell by around 30% to 5.47mn t in August compared with July, partly reflecting congestion at Chinese ports caused by severe floods in the Yangtze basin. However, crude outflows were up almost 15% compared with August 2019, according to preliminary data from Brazil’s trade ministry MDIC.
A record amount of the world’s largest tropical wetland has been lost to the fires sweeping Brazil this year, scientists said, devastating a delicate ecosystem that is one of the most biologically diverse habitats on the planet. The enormous fires have engulfed more than 10% of the Brazilian wetland, known as the Pantanal, exacting a toll scientists call “unprecedented”.
Neon Pagamentos, a Brazilian fintech services company, has raised $300 million in a Series C funding round. The investment, which has been split into two separate tranches of $150 million each, will be used by Neon to drive recruitment efforts, increase its exposure to new business clients, invest in product development and boost its technology resources.