Tag Archives: Brazil

Brazil wants a seat at the International Energy Agency’s table, filing a formal request this week to move from partner status to full membership. On Tuesday in Paris, Brazil’s ambassador delivered a letter from Foreign Affairs Minister Mauro Vieira and Mines and Energy Minister Alexandre Silveira to IEA chief Fatih …

BP announced on Monday a significant oil and gas discovery in Brazil’s prolific offshore Santos Basin, the supermajor’s biggest in 25 years. BP’s exploration well in the deepwater Bumerangue block found an estimated 500 meter (1,640 ft) gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent of …

Brazil’s crude oil exports to the U.S. are facing an uncertain future as Washington prepares to impose sweeping 50% tariffs on Brazilian imports starting August 1—up from the current 10%. While it remains unclear whether crude oil will be included in the list, analysts and industry groups are already warning …

Brazil has become the latest target of U.S. President Donald Trump’s ire after the Republican frontrunner threatened 50% tariffs on the South American giant for allegedly persecuting right-wing ex-president Jair Bolsonaro. In a post on Truth Social, Trump called on Brazilian President Luiz Inácio Lula da Silva to halt what …

Brazil will hold the COP30 climate summit in November, where it is expected to lead the world in supporting a green transition. In recent years, Brazil has made greater efforts to increase its renewable energy capacity and protect the Amazon rainforest from deforestation activities. However, in the lead-up to the …

Brazil is sending a message to the world that it can meet the needs of artificial intelligence (AI) with renewable energy, and the world is listening. The South American nation is flaunting its renewable energy sources and expansive energy grids to court tech companies to set up shop within its …

Brazil’s oil industry watchdog has scheduled an auction for drilling rights in an area where environmental authorities have put up serious opposition to any drilling, Bloomberg has reported, noting Brazil’s state-owned energy major Petrobras has been unable to tap the resources in that area because of that opposition. The tender, …

Last year, oil overtook soy as Brazil’s main export for the first time since 2012. According to trade data published by the government, foreign oil sales totalled almost USD 45 billion in 2024, passing soy’s USD 43 billion. The value of Brazil’s crude oil exports has more than doubled in …

Brazil’s state-owned Petrobras is in the midst of discussions with US LNG suppliers on a long-term import agreement, Reuters reported on March 14. Petrobras officials did not reveal which US suppliers the company has engaged in talks with; however, the discussions are part of the South American country’s efforts to …

Brazil looks to boost its economy with money from its $3.5-billion social fund, which collects revenues from oil and gas exploration and production, as approval ratings of President Luiz Inacio Lula da Silva have slumped to a record low. Inflation and most of all rising food prices have sapped the …