LNG

Petrobras, Brazil's state energy company planning LNG projects, had its credit rating upped to investment grade. US rating agency Standard & Poor's announced the upgrade of Petrobras's corporate rating from "BBB-minus" to "BBB". However, despite its massive hydrocarbon reserves Petrobras still trails the ratings of other energy companies planning LNG projects with Brazilian feed-gas such as BG Group of the UK. Petrobras will be starting LNG re-exports from its two import facilities.