Brazilian state-owned company will focus its efforts in gas and oil exploration and production, said the company’s president Roberto Castello Branco.
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Out of 15 areas tracked by the Brazilian Institute of Geography and Statistics (IBGE), ten saw output go down last June.
The Industrialist Confidence Index climbed 0.5 percentage point in July, to 57.4 points, however perception of the current economic scenario remains negative.
The Madrid, Spain-based International Olive Council released its preliminary estimates for the 2019/2020 crop. The North African country is expected to produce 350,000 tons of oil.
During a seminar at the Arab Chamber, authorities said Brazil can benefit from Egypt’s free trade agreements with other parts of the world via indirect exports.
During the 2018/19 crop, three of the five top destinations of the Brazilian commodity were Arab countries. The National Supply Company is expecting a record ethanol output.
The Brazilian Institute of Geography and Statistics (IBGE) tracked 15 locations throughout Brazil, and production increased in most in August from July.
Production slid in August from July but picked up by 2% over August 2017.
Brazil’s state-run oil company produced 2.47 million barrels of oil equivalent per day worth of oil and gas in August.
