Brazil’s Minister of Mines and Energy, Bento Albuquerque, said in New Delhi that during his trip to Saudi Arabia next July he will begin discussing possible membership to the Organization of Petroleum Exporting Countries (OPEC). Brazil aims to become one of the top five exporters of oil in 10 years, Albuquerque said during an official visit to India where Brazilian oil exports fell 23% in 2019.
Brazil’s President Jair Bolsonaro said on Twitter he will create an “Amazon Council” led by vice president, General Hamilton Mourao, to protect and ensure the “sustainable development” of the world’s largest rainforest. Under Bolsonaro, the number of fires in the Amazon reached a 10-year high last year, prompting world leaders to denounce his environmental record.
Chinese beef importers are seeking to renegotiate prices previously agreed when they closed deals to buy dozens of shipments from Brazil. Some of them are refusing to pay for shipments that already arrived in China. Brazilian beef exports to China increased more than 50% last year helping beef prices in Brazil to reach an all-time high.
The Latin American economy is recovering and will grow 1.6% in 2020 and 2.3% in 2021, driven by Brazil and despite the worsening of Mexico’s expansion forecasts and social unrest in Chile, according to the IMF report on “Global Economic Perspectives” presented today at the Davos Economic Forum.
Brazil Economy Minister Paulo Guedes attends this week the Davos Economic Forum, with the aim of attracting non-speculative foreign capital to finance projects, mainly infrastructure, showing the country’s improvements in inflation, risk, stock market rates and interests. The biggest attraction will be the privatisation and concessions package of state-owned companies, said the Privatisation Secretary, Salim Matar.
Mercosur trade deal is incompatible with the EU’s commitment to carbon neutrality and “may undermine global efforts to avert climate change”, according to analysis conducted for the Greens/European Free Alliance group. The political agreement reached in June by the EU and Mercosur countries (Argentina, Brazil, Paraguay and Uruguay) is still in the process of technical and legal revision and subject to endorsement by national governments and the European Parliament.
President of Azul Linhas Aéreas, John Rodgerson, announced the purchase of 75 Embraer aircraft during a meeting with Brazil President, Jair Bolsonaro. With the expansion of the air fleet and the purchase of regional carrier Two Flex for R$123 million, which will add 36 new national destinations, Azul plans to reach 200 national destinations in the next three or four years.
Sao Paulo-based beef giant Minerva SA is withdrawing a planned IPO of Athena Foods in Chile amid market turmoil and economic uncertainties in Argentina. A trading debut in Chile was part of Minerva’s strategy to lower debt. Instead, the company opted to sell shares in Brazil.
Petroleo Brasileiro has put up for sale its entire stake in the Golfinho and Camarupim deepwater clusters in the Espírito Santo basin. Petrobras holds 100% interest in both concessions, with the exception of exploratory block BM-ES-23, in Golfinho, where it owns 65%. Brazil’s state-run oil company has been selling assets in order to lower its debt.
President Jair Bolsonaro decided to end Brazil’s membership to the Community of Latin American and Caribbean States (Celac).Government sources said that the decision was due, among other reasons, to the presence of dictatorships in the block, such as Cuba and Venezuela.The new position was communicated last Tuesday to the members.