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.
Author: Agência Brasil
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.
The index released by the industry federation stood at 46.6 points last month. The number of jobs in the sector also decreased.
The Brazilian Ministry of Finance released its revised GDP estimate for 2017 this Wednesday (17), from 1.2% to 1.6%. The country is seen resuming growth in the final quarter of this year.
Industrialists gained confidence from July to August in Brazil, according to research by the National Federation of Industry (CNI). Index hadn’t surpassed 50 points since March 2014.
