Brazil

Monday, January 26th 2009 - 20:00 UTC
Brazilian-made oil semi-sub platform begins production

Brazil's government managed oil and corporation Petrobras announced that the first semi-submersible platform built entirely in Brazil, went on stream Sunday, beginning the production of well MLS-99, in the Marlim Sul field, in the Campos Basin.
Monday, January 26th 2009 - 20:00 UTC
Brazilian helicopters for the release of Colombian hostages

The Brazilian army will provide support to groups working on the planned release of six hostages (two politicians, three policemen and a soldier) by the Revolutionary Armed Forces of Colombia, or FARC, guerrilla group, Defence Minister Nelson Jobim said Sunday.
Monday, January 26th 2009 - 20:00 UTC
Obama pledges closer political and trade links with Brazil

United States President Barack Obama wants to work with Brazil on bio-fuels and global trade talks as a way to strengthen bilateral relations and address the international economic crisis, President Lula da Silva's spokesman said on Monday.
Monday, January 26th 2009 - 20:00 UTC
Petrobras/Repsol strike gas in Santos basin shallow waters

The Consortium formed by Brazil's government managed oil and gas corporation Petrobras and Spain's Repsol announced the discovery of a “thick column of natural gas” in the offshore Santos basin, southeast of Brazil.
Sunday, January 25th 2009 - 20:00 UTC
Petrobras ignores crisis and increases investments 55%

At a time when large raw materials companies around the world are cutting back budgets in the face of falling prices and demand Brazil's government managed oil and gas corporation Petrobras announced a 55% increase in its five year investment plan.
Thursday, January 22nd 2009 - 20:00 UTC
Brazil targets growth and cuts basic rate one full point

Brazil's Central bank reduced its benchmark SELIC interest rate a full point to 12.75% on Wednesday, its biggest cut since December 2003. Policy makers slashed the Selic rate by 1 percentage point to its lowest level since March 2007, when Brazil was still enjoying a boom that ended abruptly with the global economic crisis late last year.
Thursday, January 22nd 2009 - 20:00 UTC
Exxon finds evidence of oil in Brazil's pre-salt basin

Exxon Mobil Corp., Hess Corp. and Petrobras found evidence of oil at an offshore block in Brazil's Santos Basin in an area close to the largest oil discovery in three decades in the American continent.
Wednesday, January 21st 2009 - 20:00 UTC
Brazil “optimistic” expects a more multilateral policy

Brazil trusts that the new administration of President Barack Obama will implement a more multilateral foreign policy and will strengthen political dialogue between Washington and Brasilia said Brazilian ambassador in the US Antonio Patriota.
Tuesday, January 20th 2009 - 20:00 UTC
Corporate cuts cost Brazil 70.000 jobs and 27.8 billion USD

Brazil is estimated to have lost the equivalent of 27.8 billion US dollars in investments from domestic and international corporations as a direct consequence of the global recession, according to press reports from Sao Paulo.
Saturday, January 17th 2009 - 20:00 UTC
Spain's Repsol announces oil discovery offshore Brazil

Spanish oil company Repsol anounced this week the discovery of “traces” of hydrocarbons at a deepwater well being drilled off the Brazilian coast. In an official statement Repsol said the well was completed in Block BM-S-48, located in the Santos Basin off the coast of the south-eastern state of Sao Paulo.