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2018-12-10 08:25:00

BRAZIL'S NUCLEAR POWER

BRAZIL'S NUCLEAR POWER

REUTERS - Brazil's incoming mines and energy minister, Bento Albuquerque, supports more nuclear and wind power development to diversify the country's energy matrix, while saying hydropower had reached its limit, newspaper Folha de S.Paulo reported on Friday.

Albuquerque favors restarting construction of the Angra 3 nuclear power plant, which has been halted since 2015, as well as promoting the mining of uranium in Brazil, he said in an interview with Folha.

The admiral is currently the Brazilian Navy's head of nuclear development and technology, responsible for building five submarines, including a nuclear-powered vessel scheduled to enter service in 2029.

Angra 3 would be Brazil's third nuclear plant. Earlier this year sources told Reuters that the project was struggling to find investors. Albuquerque said that up to 49 percent of the project was open to private investment.

"They say (Angra 3) needs 15 billion reais ($3.84 billion) more, and we've already spent 16 billion reais. Is it worth it? I think it's very worth it," said Albuquerque, who was chosen by President-elect Jair Bolsonaro to be minister after the Jan. 1 government transition.

Bolsonaro had suggested the country build more hydropower stations in the Amazon, raising fears of increased deforestation among environmentalists, but Albuquerque said that expanding hydro power is not viable.

"The model of large hydropower stations is no longer viable, whether for environmental concerns or for the depletion of water resources," he said in the interview.

Albuquerque said he had not yet made up his mind on the privatization of state-owned energy utility Centrais Eletricas Brasileiras SA, proposed under the current administration of President Michel Temer.

 

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Earlier:

 BRAZILIAN OIL PRODUCTION UP 5%
2018, December, 5, 09:45:00

BRAZILIAN OIL PRODUCTION UP 5%

PLATTS - Oil production averaged 2.614 million b/d in October, jumping 5.2% from 2.486 million b/d in September, Brazil's National Petroleum Agency, or ANP, said late Monday. October's output, however, was down 0.5% from 2.627 million b/d in October 2017, the ANP said.

 

 СПГ НОВАТЭК ДЛЯ БРАЗИЛИИ
2018, September, 26, 09:00:00

NOVATEK LNG FOR BRAZIL

NOVATEK - PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its wholly owned subsidiary, NOVATEK Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.

 PETROBRAS NET INCOME R$ 17 BLN
2018, August, 8, 11:35:00

PETROBRAS NET INCOME R$ 17 BLN

PETROBRAS - Petrobras reported net income of R$ 17 billion in the first half of 2018. The positive result was mainly influenced by the increase in international oil prices, associated with the depreciation of the Brazilian Real against the US dollar. In the same period, net debt fell 13% compared to December 2017, to US$ 73.66 billion.

 

 

 BRAZIL'S GDP UP 1.8%
2018, July, 16, 10:15:00

BRAZIL'S GDP UP 1.8%

IMF - Following the severe recession in 2015−16, real GDP grew by 1 percent in 2017. Growth is projected to be 1.8 and 2.5 percent in 2018 and 2019, respectively, driven by a recovery in domestic consumption and investment. Even if federal expenditure remains constant in real terms at its 2016 level, as mandated by a constitutional rule, public debt is expected to rise further and peak in 2023 at above 90 percent of GDP.

 

 BRAZIL'S ECONOMY GROWTH 2%
2018, May, 30, 13:25:00

BRAZIL'S ECONOMY GROWTH 2%

IMF - The fiscal stance is also supportive with the primary deficit projected to widen from 1.7 to 2.4 percent of GDP in 2018, as implied by the budget. GDP growth is projected to accelerate from 1 percent in 2017 to about 2 percent in 2018, driven by private consumption and investment.

 

 IMF WANT BRAZIL
2017, July, 17, 13:40:00

IMF WANT BRAZIL

Directors observed that the financial sector has remained sound despite the severe stresses. To make the system more robust, they encouraged actions to further strengthen financial safety nets through enhanced monitoring and an improved crisis management framework. Directors underscored the need for continued vigilance and close monitoring of the health of the corporate sector and its impact on the banking system.

 

 BRAZIL & VENEZUELA IN SHOCK
2016, April, 20, 17:45:00

BRAZIL & VENEZUELA IN SHOCK

South America’s two largest oil producing nations face bigger threats from political turmoil than depressed crude prices, but reforms in their national oil companies (NOC) and energy ministries may be essential for their governments to survive.

 

 

Tags: BRAZIL, NUCLEAR, POWER