Brazil's government controlled oil corporation Petrobras has cut out from plans to help develop Venezuela's Mariscal Sucre offshore natural-gas field, which was to become the source of the gas to be pumped through the 20 billion US dollars projected Southern Gas Pipeline.
Brazilian Indians and officials urged U.N. Secretary General Ban Ki-moon, who this week visited the Amazon basin, to rally international support to protect the world's largest rain forest.
Brazilian government owned oil giant Petrobras has offered 900 million US dollars for Exxon's assets in Chile as part of its regional downstream expansion policy that includes Argentina, Chile, Paraguay and Uruguay.
Brazil's third-biggest airline, BRA, has suspended operations and sent home almost all its 1.100 employees after hitting financial difficulties. It comes after more than a year of crisis in the country's aviation industry and the near-collapse of Varig, the former flag-carrier that is now a subsidiary of Gol, the second-biggest operator.
Biofuels have the potential to cause both good and harm and governments must therefore be careful to balance the costs and benefits of developing them as energy sources, Secretary-General Ban Ki-moon has said in Brazil as he continues an official trip focused on climate change.
U.N. Secretary General Ban Ki-moon and Brazilian President Luiz Inacio Lula da Silva met on Monday to discuss Brazil's leading role in tackling climate change.
Brazilian President Luiz Inacio Lula de Silva said the discovery of reserves that may total as much as 8 billion barrels of oil and natural gas may lead the country to join the Organization of Petroleum Exporting Countries
Brazil's state oil company announced Thursday that it had discovered as much as eight billion barrels of light crude in an ultra-deep field off the coast of Rio de Janeiro, an amount that could transform the country into a major world oil exporter.
Brazil plans a major increase of the armed forces budget and a long term boost to the local defense industry and military technology which includes the purchase of 36 fighter jets worth 2.2 billion US dollars revealed the Brazilian press over the weekend.
Brazil has announced it plans to boost military spending by more than 50% in 2008, to around an estimated 5.4 billion US dollars and draw up a new defense plan, but told its neighbors they should not worry.