Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    Turki Al-Sheikh crowned "Most Influential Personality in the Last Decade" at MENA Effie Awards 2024    Saudi Arabia arrests 19,696 illegals in a week    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    GACA: 1029 complaints recorded against airlines, with least complaints in Riyadh and Buraidah airports during October    CMA plans to allow former expatriates in Saudi and other Gulf states to invest in TASI    11 killed, 23 injured in Israeli airstrike on Beirut    Trump picks billionaire Scott Bessent for Treasury Secretary    WHO: Mpox remains an international public health emergency    2 Pakistanis arrested for promoting methamphetamine    Move to ban on establishing zoos in residential neighborhoods    Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Saudi Arabia and Japan to collaborate on training Saudi students in Manga comics Saudi Minister of Culture discusses cultural collaboration during Tokyo visit    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Brazil woos Arab investors in oil
Published in The Saudi Gazette on 19 - 06 - 2013

JEDDAH – The Arab region has been a very important partner of Brazil in oil trade as Arab countries collectively account for up to 20 percent of Brazilian oil imports. From January to April 2013 alone, Brazil has already imported more than $2.76 billion worth of mineral fuel, oil, gas and other energy products from different Arab countries, according to statistics from the Arab-Brazilian Chamber of Commerce (ABCC).
While the Arab region has been a key oil supplier, the Brazilian oil sector is also looking to tap into the investment potential of the Arab world for various oil exploration and oil production projects in Brazil.
ABCC has revealed that by 2017, Brazil expects production to exceed one million barrels of oil each day following new discoveries of pre-salt oil reserves in the country.
Dr. Michel Alaby, General Secretary and CEO of Arab-Brazilian Chamber of Commerce, said "the Arab region has been a key trade partner of Brazil as bilateral trade activities continue to expand year-on-year. Oil is a particularly important trade item because Arab countries currently account for the largest volume of Brazilian oil imports. Building on the solid partnership between Brazil and its trade allies in the MENA region, the Arab-Brazilian Chamber of Commerce is also now looking to attract Arab investors for various oil projects in Brazil. This will be a great opportunity to further consolidate the strategic alliance of both regions and create mutually beneficial economic opportunities."
Saudi Arabia is Brazil's largest oil supplier with over $1 billion worth of exports from January to April 2013. The rest of the top oil exporting countries to Brazil during the same period were Algeria ($867.75 million), Kuwait ($508.15 million), the UAE ($129.82 million), Iraq ($103.99 million), Libya ($77.81 million), Qatar ($36.19 million), and Bahrain ($0.66 million). – SG


Clic here to read the story from its source.