Smart cities are an example of an investment that combines technology and sustainability in Arab countries, said Arab Brazilian Chamber secretary-general Tamer Mansour during the PetroTic seminar. The event took place online on Thursday (27).
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Brazilian oil company performed well, driven by higher oil prices and lower operating expenses. Gross debt decreased and asset sales generated USD 210 million.
A barrel is going for roughly USD 70, benefiting oil producing and exporting countries. However, Brazil, another producer, is still struggling under the impact of a strong dollar.
Despite low oil prices, Brazil’s state-run company managed to recover from nine months of deficit.
Brazil’s National Agency of Petroleum reported the cancellation the 17th bid round due to coronavirus.
Partnership with the Energy Research Office aims at connecting opportunities in the energy industry to potential investors and businesspeople.
Brazil produced 1.2 billion barrels of oil equivalent in 2019. Rio de Janeiro was the state that accounted for the largest share.
Brazilian president said that, although prices are high, they tend to remain stable, despite the US strike in Iraq last Friday.
Brazilian president said that the bombing in Baghdad, Iraq that killed Iranian military leader, will impact prices in Brazil but ruled out tabulation.
Oil production in the country went past the 3-million-barrel mark for the first time at 3.09 million barrels per day in November.
The Saudi Arabian state-run oil company’s initial public offering outdid that of China’s Alibaba. At an estimated market value of USD 1.7 trillion, Aramco is worth more than Apple.
Output climbed 9.3% for oil and gas, and 3% for oil and gas products quarter-on-quarter.
The organization estimates that the volume will grow by 1.14 million barrels per day from 2019 level.
Chevron bought the refinery for USD 526 million.
