Brazil’s government controlled oil and gas corporation Petrobras said its seventh well in the offshore Tupi field confirmed the potential of light oil in pre- salt reserves. The 3-BRSA-821-RJS well, known as Tupi Alto, is about 275 kilometers off the coast of Rio de Janeiro state, Petrobras confirmed Thursday in a regulatory filing.
Brazil and Argentina made significant advances in outstanding bilateral trade issues following a joint meeting Thursday between top policy makers, Brazilian Finance Minister Guido Mantega told reporters.
Brazil said on Thursday that the sovereign debt swap process led by the Argentine government and its economy administration was successful.
Brazil’s incumbent candidate Dilma Rousseff took the lead in the country’s presidential race, according to a new poll. Rousseff, President Lula da Silva’s former cabinet chief, is supported by 40% of those surveyed, according to an Ibope poll for the National Industrial Confederation, or CNI, that was published Wednesday in Brasilia.
While the Brazilian economy is moving ahead at “Chinese rates” the Central Bank reduced its estimate of direct foreign investment this year from 45 to 38 billion US dollars because of the European crisis.
Brazil's Central Bank welcomed China's move to boost flexibility of the Yuan exchange rate, saying the decision showed China's willingness to help the global economy.
Brazil's state-run oil company announced Monday it will invest 224 billion US dollars through 2014 and double production by 2020. About 95% of that will be invested in Brazil.
Brazilian President Lula da Silva, mining giant Vale Doce CEO Roger Agnelli and ThyssenKrupp CEO Ekkehard Schulz inaugurated on Friday Brazil's newest steel mill, Cia Siderurgica do Atlantico (CSA).
The emerging economies of Brazil, India, China and Russia (BRIC) will enjoy an agricultural boom over the next decade as production stalls in Western Europe, a report says.
Brazil and Peru signed several accords which strengthened regional integration with particular emphasis on energy. The event followed a meeting between Presidents Lula da Silva and Alan Garcia met in Manaus, state of Amazon.