Category: Industry

Information about Brazil’s economic sectors

Petrobras to sell Golfinho and Camarupim deepwater assets

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.

Sugar mills consider output change after sweetener surge to two-year high

Brazilian sugar mills are considering increasing their raw sweetener output at the expense of ethanol for automobile fuels after sugar futures surged to a two-year high this week, according to analysts. Raw sugar futures for March delivery in New York have climbed 9.1% since Jan. 2. Only 34% of the cane was used this season to produce the sweetener with the rest going to ethanol as demand and prices for the biofuel have increased.

Petrobras reduces price of gasoline and diesel in refineries

Petrobras has confirmed a 3% reduction in the price of diesel and gasoline for refineries from today. President of the National Federation of Trade in Fuels and Lubricants (Fecombustíveis), Paulo Miranda Soares, said the reduction was expected since the price of oil barrel returned to levels previous to the tension between Iran and the USA. He stressed, however, that consumers will have to wait two weeks until distributors manage the inventory.

EDPR bags solar PPA for 66 MW in Brazil

EDP Renovaveis SA (ELI:EDPR) has secured a power purchase agreement (PPA) for the output of the 66-MW Lagoa solar park it plans to build in the Brazilian state of Paraiba, which will start generating power in 2022. The Madrid-based company with Portuguese roots says it has now secured 5.3 GW worth of off-take deals out of around 7 GW of its global capacity planned for installation between 2019 and 2022.

Brazil 5G auction delay dents country’s tech ambitions

Brazil’s auction of coveted 5G spectrum originally scheduled for March has been postponed until the end of year, amid a dispute at Anatel, the nation’s telecoms regulator, over the rules for the auction. Although the delay may help Brasília avert a looming stand-off with the US over whether Huawei play a role, it is a setback to the country’s technological ambitions that could cost the state billions in lost tax revenues and investments.

Bolsonaro pushes plans for mining in Amazonian indigenous lands

Mining and Energy Minister Bento Albuquerque told a group of 12 European diplomats that Brazil’s government was pushing ahead with plans to allow mining on indigenous reserves. He said that “significant leadership” from native communities had asked for the opportunity to mine on their lands. President Jair Bolsonaro will send a bill to Congress later this month to regulate the activity.

Industrial output falls 1.2% in November and 1.1% in year-to-date

After three consecutive months of growing, Brazilian industrial production fell 1.2% in November, compared to October, and 1.7% compared to the previous year, according to the Brazilian Institute of Geography and Statistics (IBGE). This is the largest monthly decline since March (-1.4%) and the worst November since 2015 (-1.9%). Year to date, the industrial sector has fallen by 1.1%.

Record-high in beef exports in both volume and revenue in 2019

Brazil shipped 1.847 million tonnes of beef, up 12.4% from 2018, and revenue was up 15.5% to $7.59 billion, according to the Brazilian Beef Exporters Association (Abiec). Throughout 2019, China boosted exports and took the lead in purchases with 26.7% of total volume and $2.6 billion revenue. United Arab Emirates imported 71,397 tonnes of beef from Brazil in 2019, a figure 93% higher than 2018.