The Arab Chamber’s President, Rubens Hannun, and Advisor to the Presidency for Strategic Affairs, Tamer Mansour, visited the country and met with authorities and business owners to strengthen trade ties with Brazil.
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Foreign sales of basic goods rose 2.7% in September, while sales of other items dropped 7%, according to Fundação Getulio Vargas (FGV).
The company’s president said at a conference that there are plans to increase current oil and gas output from 4.8 million bpd to 6.5 million bpd in the next eight years.
The aim of these investments throughout the next few years is to maintain and even expand the country’s spare oil production capacity.
Qatar’s state-owned company acquired the block of Titã, in the Santos basin, in the 5th Production Sharing Round in the Pre-Salt, in a consortium with ExxonMobil. The auction was held this Friday.
Brazilian foreign sales are concentrated mainly on basic goods, but measures are being taken for finished products to increase their share.
Brazil’s state-run oil company produced 2.47 million barrels of oil equivalent per day worth of oil and gas in August.
The National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved four measures to encourage onshore and shallow-water operations.
The climb was registered in July over June, with 1.82 million barrels of oil equivalent per day.
August saw 111.6 million barrels of oil shipped from the Arab country, up 12% from a year ago, the Ministry of Petroleum reported.
The Fund believe that the country’s economy will pick up in 2018 and 2019 after a downturn in 2017.
The estimate for 2027 was shown by Décio Oddone, director general of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Currently, the country produces 2.6 million barrels per day.
Brazil’s oil regulator published, this Friday (10), the rules for the 5th Oil and Gas Bidding Round under the Production Sharing Regime.
The Brazilian state-run oil company posted BRL 10.7 billion in net profit in quarter two this year, up 45% from a year ago.
