The company finalized the arrangements for the sale of NTS, which operates its network of gas pipelines in Brazil’s southeast.
Author: Agência Brasil
New financing conditions for foreign sales have been approved by the Brazilian Development Bank (BNDES), mostly targeting companies in the USD 28.16-USD 93.87 million per year revenue range.
The Brazilian Institute of Geography and Statistics (IBGE) forecasts a 186.1 million ton harvest this year in Brazil, down from 209.4 million tons harvested last year.
The Brazilian government authorized the 4th tender for marginal wells, i.e. those where extraction is not profitable for operators, but could be for smaller companies. No date has been set yet.
Financial institutions polled by the Brazilian Central Bank forecast a decline of 3.20% of Brazil’s GDP this year, above last week’s estimate of 3.16%.
Speaking during a trip to China, Brazil’s Finance minister Henrique Meirelles said investments will be made in energy, transportation, roads, airports, etc.
A survey conducted by the Brazilian Institute of Geography and Statistics (IBGE) shows the sector grew from March to July. In July alone, expansion was 0.1%.
In Brazil, after going up in June, revenue numbers dropped in July. In the seven months through July, revenues are down 12% according to the National Federation of Industry (CNI).
Such was the contraction of Brazil’s Gross Domestic Product (GDP) compared with quarter one. As against Q2 2015, GDP shrank 3.8%. Year-to-date through June, it was down 4.6%, the national Statistics Institute said.
Real revenues were up 0.66% from January through July, and 4.2% year-on-year in July, the industry association said.
The Brazilian oil company and its Norwegian counterpart entered into a deal to expand a partnership for bidding in tenders for oil and gas exploration blocks, and technological development.
Financial institutions in Brazil are expecting the Central Bank to keep the per-annum rate at 14.25% at a meeting due this week.
The target number was included in an action plan that will be discussed by the leaders of the bloc in the September 4 and 5 China summit.
Estimate by financial institutions for the economy’s growth next year went from 1.1% to 1.2%, according to survey done by the Brazilian Central Bank. For this year, forecast of 3.2% decline remains.
