Brazil and Argentina production estimates are going up, but hailstorms ruined soybean and corn crops in Argentina’s Santa Fe Province. However, La Niña is forecast to be relatively mild this year, according to NOAA forecasters.
Oil major Shell is planning to continue investing heavily in Brazil as part of a bid to double its global deep water production by the early 2020s. Shell plans to invest US$10 billion over the next five years, Wael Sawan, the company’s executive vice president for deep water, said in an interview this week.
Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.
The Brazilian pepople's cult of the female rear came back to life once again in the 2016 edition of the Miss Bumbum beauty contest, in which candidates from the 27 states disputed the title to the best behind, raising again controversy around the issue of object woman.
Protesters Friday blocked some of Sao Paulo's main avenues to object to the the bill to freeze public spending for 20 years. Others set roadblocks with tires at the Vía Dutra, which links Sao Paulo with Rio de Janeiro, and Via Anchieta, the main road between the city and the coast.
Petrobras will begin selling off huge “pre-salt” oil fields to raise cash for the desperate Brazilian national oil company, according to new legislation passed by Congress. Politicians in the lower house had fought against the bill, but lawmakers succeeded in pushing the bill through during a late-night session, and the vote stood at 251-22 by the end of the night.
Brazil's attorney general on Friday offered a joking retort to former President Lula da Silva's remark that the corruption allegations he faces are due to a diabolical pact among different institutions, saying he is not a religious person. What I can say is that I'm not religious, Rodrigo Janot joked to reporters when asked about Lula's comments. Janot, who gave a press conference to review anti-corruption investigations this year, added that Lula was free to express his opinion.
Brazilian ex-President Dilma Rousseff's (PT) defense team attached to the case against her slate at the Superior Electoral Court, TSE, documents revealing that R$ 1 million (US$ 320.000) which construction company Andrade Guitierrez donated to her re-election campaing in 2014 went through the account of who was then Vice Presidential candidate Michel Temer (PMDB).
Executives of Brazilian state oil company Petrobras and Bolivian counterpart YPFB signed this week a contract for a US$1.2 billion natural-gas exploration venture in southern Bolivia. Bolivian President Evo Morales and Brazil's minister of mines and energy, Fernando Coelho Filho, traveled to Bolivia's eastern city of Santa Cruz for the signing ceremony.
The Government of the Falkland Islands and the British Embassies in Uruguay, Brazil and Chile invited university students to participate in this regional competition to win the chance to visit the Falklands for a week, all expenses paid.