The Arab country is set to allow foreign companies to own 100% of oil and natural gas extraction projects, following an order issued by the prime minister.
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Nine enterprises were authorized to supply energy to Boa Vista and other cities in the Brazilian state during auction this Friday (31).
Months is marked by seasonal revenues, such as income tax and oil royalties, which caused Brazilian public accounts to see a positive balance.
After hikes in Q3 and Q4 2018, Brazil’s economy shrank according to IBGE. These numbers are official.
Arab country is the main jeans supplier for the Italian market and the fourth for the French.
Petrobras now extracts almost 2 million barrels of oil equivalent a day in the region’s ultra-deep waters.
Foreign sales reached over USD 1 billion. It is the first time that mark is surpassed in 63 months.
Exports by the bloc’s members were up a meager 0.4% in Q1, while imports slid by 1.2%. The organization points out the negative effects of the USA-China trade war.
Expenditure during international trips was down 3% in April and 10% year-to-date through April, the Brazilian Central Bank reported. A strong US dollar makes it more expensive to go abroad.
Government approved new austere budget for 2019 aimed to cut the deficit to 7.5% of GDP from 11.5%.
Banks keep reducing their estimate for Brazil’s GDP. Expectation now is that the economy will grow 1.23% in 2019.
Brazil saw 129,600 posts created, the biggest number for the month since April 2013.
According to IBGE, this was the greatest change for the month of May since 2016.
USD 34 billion went into the government’s coffers during the month in Brazil, with collection driven by oil royalties.
