LNG

Brazil is seeking more natural gas to meet rising gas-fired power needs and has held talks with Argentina and Bolivia on reversing pipeline flows to transport Argentinian supplies from the Vaca Muerta shale-gas basin.

Petróleo Brasileiro, which was the first national oil company to import LNG to chartered floating storage and regasification units (FSRUs) back in 2009 while never developing LNG production itself, reported a 76 percent surge in oil-led net profits as the government also brought in a new tax on energy companies exporting oil.