LNG

Petróleo Brasileiro S.A., the Brazilian major known as Petrobras and 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, posted an almost 35 percent drop in first-quarter profits as global energy prices eased.

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.