Oil is on track to become Brazil’s main export product in 2024. This will be the first time in history, according to data from the historical series that began in 1997.
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The Brazilian state-run oil firm has approved a business plan for 2025-2029, with projected investments of USD 77 billion in exploration and production, USD 20 billion in refining, transportation, and marketing, and USD 11 billion in gas and low-carbon energy.
In an interview with a TV show, the Algerian state oil firm’s CEO, Rachid Hachichi, said the company is widening its international operation in 2014.
Country produced record-high 43 billion liters of ethanol and biodiesel in 2023. Ethanol output rose by 15.5%, and biodiesel 20%.
During the FII Priority, Aloizio Mercadante, President of the Brazilian state development bank BNDES, highlighted Brazil’s green and energy potential, in a bid to attract investments from the Gulf.
Solar energy system acquired with donations from Rotary Club members in Brazil was inaugurated in a Lebanese school earlier this month. Other two education institutions in the Arab country that faces constant energy supply problems will be benefited from funds raised by the Light for the Future campaign.
Brazilian energy firm had its credit rating raised to BB by rating agency S&P, indicating a higher security for investors.
Mubadala Capital energy firm headquartered in Bahia launched at COP28 a renewable fuel project based on the oil harnessed from macaúba, a Brazilian native fruit.
The IMF expects a GDP growth rate lower than in 2022 but still at a “strong” pace. Inflation is slowing down and international reserves are “comfortable.”
Brazil’s Minister of Environment and Climate Change told UAE news agency WAM that the decisions made at COP28 are the basis for initiating investments that are aligned with nature.
In a meeting with civil society members, Lula said that the country will enter the oil cartel OPEC+, and that ending some fossil fuels is a desire but a struggle, too.
The Arab country seeks to become the top supplier of green hydrogen in North Africa. Plans include exporting to European nations and using it in fertilizer production.
The mineral used to manufacture products such as batteries for electric vehicles was extracted in Minas Gerais and sent to the Chinese company Yahua. The vice president of Brazil accompanied the sending.
Scatec received a land area for constructing a wind power plant to generate 5 gigawatts in the south of Egypt.
