'Production cuts by Saudi Arabia and Russia continue to pressure Brent crude prices. Unigel has had its credit rating downgraded by S&P Global.'
The price of oil increased again due to the decision of the Saudi Arabia e Russia to maintain production cuts, directly impacting the global economy.
The politician Alckmin is arguing in favor of subsidies to boost the production of sustainable aviation fuel in Brazil, aiming for the development and sustainability of the sector.
The agency S&P Global downgraded the company's credit rating Unigel and predicts a possible 'general default', causing concerns in the financial and business markets.
The federal government and the Prosecutor are putting pressure on the company Enel due to the delay in resuming energy supply after a blackout in São Paulo, raising questions about the efficiency of the service provided by the company.
Predictive of production cuts boosts the price of barrel
The week began with the price of a barrel rising slightly due to the confirmation that Saudi Arabia will continue with the cut of 1 million barrels per day and the Russia will reduce your oil and product exports oil production by 300.000 bpd by the end of December.
A barrel of Brent ended the day with an increase of 0,34%, reaching US$85,18, while WTI registered an increase of 0,4%, reaching US$80,82.
After Unigel failed to pay interest on R$23,2 million due on November 2, S&P Global Ratings downgraded the company's credit rating from “CCC-” to “D”, the lowest possible. This followed a 6% drop last week, extending the 11% loss in October. Analysts Luisa Vilhena and Fabiana Gobbi stated that, due to the fact that senior notes and debentures make up the majority of the company's debt, they believe that the default will be general.
The company New Fortress Energy reached an agreement with Petrobras to transfer the regasifier ship Energos Winter to Santa Catarina, enabling the start of operations at the Gás-Sul Terminal in Babitonga Bay from 2024. The terminal will have a supply contract with SCGás for five years, for daily delivery of 150 thousand m3 of gas, and is also looking for new customers to expand its operations.
The vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin, emphasized the importance of providing Incentives to fuel sustainable aviation for your development in Brazil. He compared SAF with wind and solar energy, highlighting the need to encourage their use.
The federal government sent the Future Fuel bill to Congress, which establishes the National Sustainable Aviation Fuel Program (ProBioQAV). The program establishes emissions reduction targets for airline operators from 2027 onwards, encouraging the use of sustainable fuels with the aim of promoting more sustainable and environmentally friendly aviation.
Virgin Atlantic performs first transatlantic flight with full use of SAF; companies that have already tested the fuel
The airline Virgin Atlantic made history by carrying out the first transatlantic flight using 100% SAF (sustainable aviation fuel). This advancement represents a significant milestone in the quest to reduce carbon emissions in aviation. Several companies in the sector have already tested the fuel, demonstrating the potential and viability of sustainable alternatives for the future of aviation.
Three days after the storm that resulted in a lack of electricity in several areas of São Paulo, there are still 350 homes without electricity, most of them in the capital, according to Enel.
The delay in restoring supply has generated criticism from the federal government, which sent a notification to Enel and is demanding that consumers be compensated. The concessionaire stated that it will analyze compensation on an individual basis.
The Public Ministry of São Paulo announced that it will open an investigation to investigate the company's alleged lack of action, according to information released by the news portal g1.
In the political scenario of São Paulo, opponents of governor Tarcísio de Freitas (Republicans) in the Legislative Assembly took advantage of the interruption in the supply of electricity in municipalities in São Paulo to intensify criticism against the proposed privatization of Sabesp.
Mayor of São Paulo proposes creation of fee for maintenance of the city’s distribution network
Ricardo Nunes, mayor of São Paulo, defended the implementation of a new tax to pay for the maintenance of distribution infrastructure in the city.
A Eletrobras took the decision to assume Santo Antônio Energia's debt, after approval from BNDES to restructure Saesa's debts. A Eletrobras, which is the indirect controller of Santo Antônio Energia, will make a prepayment of R$2 billion and assume a total debt of R$11,5 billion, distributed between the development bank and the onlending banks.
Furthermore, Eletrobras chose to hold the sale of ISA Cteep, as it was found that the volume of shares available for the secondary public offering did not meet expectations. Therefore, the structuring of the offer has been temporarily suspended.
Source: EPBR Agency
