(Bloomberg, 11.May.2022) — Brazilian President Jair Bolsonaro replaced his Energy Minister just days after state-run Petroleo Brasileiro SA ignored his plea to not raise fuel prices, which has become a major political issue ahead of his re-election bid in October. Bento Albuquerque, who served in the role for more than […]
Tag: Bento Albuquerque
Brazil Warns Of Energy Crisis
(Reuters, 1.Sep.2021) — Brazil’s Mines and Energy Minister Bento Albuquerque is warning that the country’s energy crisis is worse than previously thought, as a record drought hampers hydropower generation. In a televised national address on Tuesday, preempting the nightly news, Albuquerque said the crisis had deepened, with water reserves at […]
Drought May Force Brazil To Ration Power
(Reuters, 1.Sep.2021) — Brazilian Vice President Hamilton Mourao said on Wednesday a severe drought could lead to energy rationing in Brazil, contradicting other officials who have said that such a step would not be necessary. Brazil, one of the world’s agricultural superpowers, is suffering from one of its worst droughts […]
LatAm Briefs: Petrobras Swears In CEO, Aker’s Mero 1 Project Update
(Energy Analytics Institute, 19.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Petrobras hosting an inauguration or swearing in ceremony for its new CEO Joaquim Silva e Luna and Aker Solutions in Brazil celebrating the last delivery marking the end of the Mero 1 project. Petrobras Hosts […]
Brazil Eyes Oil Industry Reforms To Lure Investors
(S&P Global, 31.Dec.2020) — Brazil needs to continue making important oil industry reforms in 2021 to remain as one of the world’s top destinations for investments amid heated global competition and uncertainties about the coronavirus pandemic, according to government and industry officials. The efforts will come during a period of […]
Brazil To Discuss OPEC With Saudi Arabia In July
(S&P Global Platts, 24.Jan.2020) — Brazil will discuss potential cooperation with OPEC on the sidelines of a Group of 20 event scheduled to be held in Saudi Arabia later this year, the country’s Mines and Energy Ministry said in a statement this week. Mines and Energy Minister Bento Albuquerque will […]
Brazil Looks To Smooth Impact Of Oil Price Spikes
(Reuters, 6.Jan.2020) — Brazil’s government is working on a policy to reduce the local impact of spikes in international oil prices, officials said on Monday, reviving questions about the state oil firm’s independence in setting fuel prices. Mines and Energy Minister Bento Albuquerque told reporters the government will not create […]
Rosneft Head Sechin Attends BRICS Summit In Brazil
(Rosneft, 15.Nov.2019) — During the visit of the President of the Russian Federation Vladimir Putin to the BRICS summit in Brazil, the Chief Executive Officer of PJSC Rosneft Oil Company Igor Sechin as part of the Russian delegation took part in a number of bilateral meetings with the leaders of […]
Big Oil Stuns Brazil In Back-to-back Auction Flops
(Reuters, Marianna Parraga, Gram Slattery and Marta Nogueira, 7.Nov.2019) — Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA. The only […]
TOR Record R$70bn Bonuses
(ANP, 6.Nov.2019) — The Transfer of Rights Surplus Bidding Round, held today (November 6) by ANP, had two of the four areas on offer acquired (BĂşzios and Itapu), generating R$ 69.96 billion in signature bonus. This amount is a record and represents a value higher than the sum of all […]
What A Mammoth Oil Auction Means for Brazil
(Americas Quarterly, Naki Mendoza, 5.Nov.2019) — A pre-salt auction 20 years in the making could have broad repercussions for the economy and Jair Bolsonaro’s government. Since its first pre-salt auction in 2013, Brazil has grown accustomed to blockbuster oil deals. But the upcoming Nov. 6 auction of prime offshore acreage […]
Brazil Approves Natgas Market Overhaul
(Reuters, 24.Jun.2019) — Brazil’s energy policy council on Monday approved a plan to overhaul the domestic natural gas market, with the country’s Mines and Energy Minister Bento Albuquerque saying that the move would bring down gas prices within two to three years. Speaking alongside Albuquerque, Economy Minister Paulo Guedes offered […]
Brazil And Peru Ink Energy Cooperation Declaration
(Brazilian Government, 7.Mar.2019) — Brazil and Peru will intensify cooperation in the energy sector. The Ministers of Mines and Energy of the two countries, Bento Albuquerque (Brazil) and Francisco Atilio ĂŤsmodes (Peru), signed a Declaration of Cooperation in Energy on 5 February. The document provides mechanisms for exchanges on energy […]