Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.1 comment
Brazil has decided to permanently sideline its sole aircraft carrier, the flat-top São Paulo. The Brazilian government has said the cost of updating the ship and purchasing new planes was prohibitive and will seek to replace them in the future. The decision underscores the point that aircraft carriers are a rich country's game.20 comments
Ever so dependent on the Armed Forces to keep law and order, the Brazilian government has exempted the military from a far-reaching pension reform. Following Congress's approval of a public spending cap late last year, the government of President Michel Temer is pushing ahead with a broad pension reform as the next stage of its austerity agenda.3 comments
Mexican politicians are saber rattling against the US agriculture sector, and it looks like Argentina is ready to fill the gap. In effect Mexico's agriculture minister said on Thursday he will lead a business delegation to Argentina and Brazil to explore buying yellow corn, part of a drive to lessen Mexico's U.S. dependence given uncertainty over President Donald Trump's trade policies.7 comments
Conab, the Brazilian crop supply agency lifted its forecast for the second-season corn crop by some 2.5m tons, citing good weather. Conab forecast the Brazilian safrinha crop, which is sown after soybeans are harvested, up 44% year-on-year, to 58.59m tons. This compares to the 56.10m tons Cobab forecast in January.Add your comment!
As of 13 February 2017, yellow fever virus transmission continues to expand towards the Atlantic coast of Brazil in areas not deemed to be at risk for yellow fever transmission prior to the revised risk assessment published by WHO in the Disease Outbreak News of 27 January 2017, and supported by the scientific and technical advisory group on geographical yellow fever risk mapping (GRYF).Add your comment!
A Brazilian judge reinstated the nomination of a top ally of President Michel Temer to a ministerial post, but ruled he could not receive the legal protections other high-ranking politicians enjoy.33 comments
The Brazilian real gained on Tuesday to its strongest level in more than a year and a half, following a rise in capital inflows and after the central bank resumed currency intervention following a two-week pause. The real firmed 0.45% to 3.096 real per dollar, its strongest showing since July 2015.1 comment
Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”3 comments
Brazil's Agriculture Minister Blairo Maggi said on Monday he has asked the country's Foreign Trade Chamber (Camex) for authorization to open robusta coffee imports at near zero tariff, according to the ministry.8 comments