Tag: Brazil

Metinvest received certificates to supply pipes and plates to Brazil’s Petróleo Brasileiro (Petrobras). The certificates were given to Khartsyzsk Pipe for carbon welded pipes and Azovstal for carbon steel plates.

Petrobras has completed the drilling and formation test of the fourth exploratory well at Iara area, block BM-S-11, in the Santos Basin pre-salt. These results have strengthened the potential of recoverable light oil from Iara, and have confirmed the discovery of good quality oil (28° API) announced in March.

ArcelorMittal is looking forward to the 2014 FIFA World Cup in Brazil when the world will get a chance to see how the company's steel products have been used for the tournament. More than half of the steel used for the infrastructure works related to the World Cup — including a variety of buildings from stadiums, to train stations, to giant aquariums — has been supplied by ArcelorMittal Brazil.

Brazil's steel distributors association, Inda, has disclosed that its members' steel sales fell 9.4% year-on-year to 369,900t in May, decreasing by 3.4% compared to April. In the January–May period of this year, steel sales of Brazilian distributors rose by 4.

Alacero, the Latin American steel association, said that apparent finished steel use in Latin America and the Caribbean reached 21.7 million tonnes in January–April 2013, in line with same period of the previous year.

E.ON SE acquired 24.5% of MPX’s equity from Eike Batista, owner and CEO of EBX. E.ON acquired 141,544,637 shares of MPX stock for a minimum price of EUR 3.921 per share, plus up to a further EUR 0.391 per share, depending upon the final settlement price of a planned capital increase and the share price performance of MPX in the six months following the closing of the transaction.

Brazilian petrochemical company Braskem will benefit by BRL 600M (USD 284M) this year, and up to BRL 900M in 2014 as a result of the government's decision to cut taxes on purchases of chemical raw materials, chief executive officer Carlos Fadigas said.

Brazilian steelmaker Gerdau has started operations at the flat steel rolling unit in the company's subsidiary Gerdau Ouro Branco (formerly known as Açominas) located in Minas Gerais state. Porto Alegre-based Gerdau is the biggest producer of long steel in the Americas, and one of the largest suppliers of specialty steel in the world, with installed capacity of over 25Mt/y.

Work on the 500MW transmission line connecting Uruguay and Brazil is expected to be completed this year. The imports are scheduled to begin in 2014 and the exports to Brazil in 2015. The project was initially slated to come online in mid-2013.

Brazil is fast becoming one of the most important markets in the worldwide oil & gas industries. To take advantage of upcoming projects and continuing to explore the opportunities in the Brazilian market, IPP Group is proud to announce the opening of a new office in Rio de Janeiro.