Merz, Germany's Merz, promises arms cooperation while he seeks to increase Qatari energy
German Chancellor Friedrich Merz promised to take a more-restrictive approach to arms exports to Gulf States during a visit to 'Qatar' on Thursday. The trip came as Europe’s largest economy seeks to deepen economic ties and to diversify its sources of energy. Merz has launched a campaign aimed at promoting Germany as an attractive country for doing business, as the U.S.
Brazil's oil regulator authorizes Petrobras to resume Foz do Amazonas drilling
A document obtained by?showed that Brazil's oil regulator ANP had?authorized the?state-run Petrobras on Wednesday to resume drilling operations in the environmentally sensitive Foz do Amazonas area. The drilling was halted by the?ANP in early December after a synthetic liquid leaked from auxiliary lines that connected Petrobras' drill rig with a planned well located off the coast of Brazil’s?Amazonian State of?Amapa.
Oil majors buy up West African oil blocks to prepare for the next Brazil
Chevron, TotalEnergies and other oil majors are snatching up offshore blocks off the coast of West and Southern Africa. Geology, regulatory reforms and the need to replenish the reserves have prompted the search for the next Brazil. Companies are restocking oil and gas assets as fossil fuel demand is expected to remain higher than forecasted just a few short years ago.
Experts say that Brazil is on track to increase ethanol production in 2026.
Analysts and commodities traders stated on Tuesday that a healthy ethanol price, the expansion of corn-ethanol plants, and a large sugarcane harvest are all factors contributing to the increase in biofuel production in Brazil this year, the world's?second largest producer. They said?during an event at the Dubai Sugar Conference, that increased…
Grain prices in Chicago corn and soy recover after updated biofuel guidance
Analysts said that Chicago grain and soybean contracts gained ground on Tuesday, as the selloff of commodities markets subsided?and the U.S. Department of the Treasury issued updated guidance?on biofuel credit credits. As of 11 am CT (1600 GMT), the most active soybean "contract" on the Chicago Board of Trade recovered from a three session fall.
Grain futures rise as gold and commodities stabilize, while soybeans continue to climb.
Chicago soybean futures rose on Tuesday as traders struggled with teetering commodity markets and rising gold prices. Wheat and corn also traded higher. As of 0453 GMT, the most active soybean contract on Chicago?Board?of Trade was up 0.2% to $10.62-3/4 a Bushel. CBOT corn was up 0.3% and wheat rose 0.3%. The rise in grain and soybean prices is related to the recovery of gold and silver.
Brokers say that Brazil's sugar mills will focus more on ethanol because they are underhedged.
Sugarcane producers in Brazil have been very slow to hedge for the season 2026/27 that will begin in April. They are also likely to focus more on ethanol, as the current sugar prices are below the cost of production. Czarnikow is a broker and provider of supply chain services. According to a Monday report, Brazilian sugar mills hedged by taking short positions on the ICE exchange in New York.
Over the objections of the government, French Senate approves a proposal to allow oil exploration in overseas territories
The French Senate approved by a large majority a proposal on Thursday to allow oil and gas exploration within its overseas territories. This followed a heated debate which pitted the country's decade old climate commitments with growing concerns about energy sovereignty and supply security. French Guiana, a South American territory located east of Venezuela and sandwiched between Brazil and Suriname…
Russian Urals Oil Trades at Close to Widest Discounts Since 2022
Russian February Urals crude oil cargoes traded at close to the widest discounts against dated Brent in Indian ports since 2022 amid intensified pressure from Western sanctions, two sources said.Urals oil cargoes to be supplied in February traded at discounts of $10 per barrel to dated Brent for delivery in Indian ports, a $3-5 per barrel…
India's state-owned BPCL signs $780 million oil contract with Brazil's Petrobras
India's Bharat Oil Corp Ltd. will purchase?12,000,000 oil barrels from Brazil's Petrobas for $780 million in fiscal 2027. This is?twice as much as its contract with Petrobas 2026, and will be used to replace Russian oil. A government statement was released on Friday. Indian refiners have redrafted their oil import strategy, purchasing more oil from countries in the Middle East…
Brazil's January soy exports are below expectations, say traders
Some Brazilian traders claim that soybean exports for January will likely miss the?grain importers' association Anec?s forecast, released on Tuesday. Meanwhile,?Anec has said it is re-evaluating its estimate of?3.8 millions metric tons shipments this month. Anec stated that its estimate of a monthly volume far exceeding the 1.1 millions tons shipped in January 2020 was based on schedules.
Halliburton says it could move quickly to Venezuela if it meets its quarterly profit expectations
Halliburton exceeded analysts' expectations for fourth-quarter profits on Wednesday. This was due to the steady demand of its equipment and services in international markets. The company also announced that it will re-enter Venezuela once commercial and legal issues, such as payment certainty, are resolved. Houston-based Halliburton, which launched the earnings season of U.S.
Galp is focusing on upstream growth in Brazil and Namibia with its refining spin-off.
The co-chief executive of Galp, Joao diogo marques da Silva, said on Tuesday that the company will "focus" on growing its upstream oilfields business in Brazil and Namibia. It may also list some of its newly created downstream business within a few years. The company announced earlier this month that it was in discussions with Moeve, a private equity-backed firm, to combine their two businesses into two new?entities.
Maha Capital asks for US approval to purchase stake in Venezuelan oil company
Paulo Thiago Mendonca is the chairman of Maha Capital's board. He said that the United States has approved the acquisition of an indirect minority stake in a PDVSA controlled oil company. The firm has until the end of May to "exercise" an option to acquire a majority stake. Novonor is a subsidiary that owns 40% PetroUrdaneta - a small oil company in Venezuela with underdeveloped oilfields.
Heat inequality: A study measures the impact of climate change on Rio de Janeiro's favelas
Every summer, Michele Campos cries when the temperatures in Rio de Janeiro rise above 40degC. The cement in the favela Chapeu Mangueira (where she lives) is heated up and makes her life in the windowless bedroom unbearable. The 39-year old said, "Sleeping's the worst." In the favela, we feel the heat differently than people who have air conditioning.
Brava, a Brazilian company, buys Petronas stakes in offshore fields worth $450 million
The Brazilian oil company Brava 'Energia announced Friday that it had acquired the Petronas stakes in Malaysia. In two offshore fields, the company has invested $450 million. This is part of a new strategy outlined by its incoming CEO. Brava has purchased Petronas 50% stakes at the Tartaruga Verde and Module III fields in Brazil's Campos Basin.
Venezuela's Rodriguez proposes oil reform to facilitate investment
Delcy Rodriguez, Venezuela's interim president, said Thursday she would submit a proposal for reforming?the country’s hydrocarbon laws. Investors in the U.S. are pushing to?get easier access to Venezuela’s?oil sector. Rodriguez said that funds generated from the oil industry would be used to pay for workers and public services. According to the U.S.…
Nordzucker, a German sugar company, expects to lose money as the market for sugar remains weak
Nordzucker, Germany's second largest sugar refiner, warned that it could suffer an operating loss due to the low EU sugar prices, which are affecting producers across the market. The unlisted company stated that it expects a loss of operating income in the high double-digit millions for the current year. This is much worse than anticipated.
Sources say that the Brazilian police have issued warrants to businessmen involved in an investigation into Banco Master.
Two sources familiar with this matter said that the Brazilian federal police issued search and seizure warrants on Wednesday against businessmen Nelson Tanure and Daniel Vorcaro as part of a probe into an alleged fraud at Banco Master. The raids were part of the second stage of an operation that began in November and led to Vorcaro's detention on the day Banco Master was liquidated by the Brazilian central banks.
Brazil's Soy Exports will Hit Record High for January, Grain Exporting Group Says
The grains exporting group Anec predicted on Tuesday that Brazilian soybean exports would reach nearly four million tonnes in January, a new record. Anec reported that traders in Brazil will export an estimated 3,73 million tons of oilseeds this month. This is about 1.3 millions tons more than was estimated last week. Farmers have only just started harvesting the 2026 crop.