The money is expected to be invested in the 2024-2028 phase of the oil and gas industry’s current contracts, Brazil’s oil and biofuels regulator reported.
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This year’s GDP projections are based on the World Economic Outlook review, which also estimated 1.7% growth for Brazil.
The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
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 IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country’s economy could grow by 5%.
Lyba’s ambassador to Brasília, Osama Sawan, visited the headquarters of the Arab-Brazilian Chamber together with Libyan Iron & Steel Company chairman Mohamed Abdulmalek.
Oil prices spiked Monday (9) as global equity markets fear an escalating conflict in Israel and the Gaza Strip.
The ADIPEC Exhibition & Conference ended this Thursday (5). ApexBrasil took 13 Brazilian companies to showcase their products and services and meet potential customers from other countries.
The secretary-general of the Organization of Arab Petroleum Exporting Countries, Jamal Al-Loughani, spoke in China about the region’s expectation of boosting oil supplies to the world.
The Saudi Ministry of Energy reported the country would extend a voluntary oil production cut of 1 million barrels per day until the end of 2023. The measure taken by the world’s largest exporter of crude oil leads to higher prices.
Executives from the Kuwait Foreign Petroleum Exploration Company met this week in Brazil with industry giants such as Petrobras, Chevron, and Shell.
A report by OPEC points out a decline in the Brazilian oil output in March, but there’s a prospect for growth.
Saudi Arabia earned USD 22.8 billion from international oil sales in December. The commodity accounted for 79% of the country’s exports.
According to company PPSA, linked to the Brazilian Ministry of Mines and Energy, this is the volume the country expects to produce under the sharing regime in pre-salt areas from 2023 to 2032. Daily production is expected to increase fourfold in the coming years.