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Venezuelan Oil Faces Negative Impacts on Production and Seeks Alternatives to Overcome National Crisis, Potentially Causing Socioeconomic Problems in Brazil
The export revenue from Venezuelan oil is the strongest point of its economy, around 95%, as production stops growing and enters a decline, causing the entire economy to collapse automatically, resulting in unimaginable losses and putting the country on alert. According to the Organization of the Petroleum Exporting Countries (OPEC), the country is operating at a low level and has no forecast for improvement. The International Monetary Fund (IMF) stated that the Venezuelan economy has never gone through a crisis as severe as this one, which is considered one of the largest in modern history. The acting president Nicolás Maduro issued a document authorizing PDVSA, the state oil company, to increase production to the maximum, but due to the state of disrepair of the state-owned company, it lacks the technical conditions to explore local oil reserves, which are seen as some of the largest in the world.
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Haiti’s capital is experiencing an energy and construction crisis, facing blackouts, a blocked port, and buildings at risk after years of instability and a significant earthquake.
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Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.
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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.
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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.
Venezuelans Seek Refuge in Brazil Amid Humanitarian Crisis
Venezuelans are seeking refuge in Brazil amid the largest humanitarian crisis in their history. Refugees are arriving from all parts with complete families, claiming that in their country the salary is not enough to buy a package of rice. Desperate people wanting to work to feed themselves and provide their children with the basic necessities for survival. In Roraima, there is no more space, Boa Vista is overcrowded, and every day it becomes unsustainable to keep the city balanced. In the capital Goiana, the number is already starting to rise, all due to external economic problems that are beginning to reflect in Brazil.
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Unemployment in Brazil
According to a survey by the Brazilian Institute of Geography and Statistics, “The unemployment rate for the quarter ending in March 2018 reached 13.1%, an increase of 1.3 percentage points compared to the last quarter of the previous year (11.8%). The total number of unemployed people also grew during this period, rising from 12.3 million to 13.7 million. There was an 11.2% increase in this contingent, or more than 1.4 million unemployed people in the country.” We know that especially in the O&G sector, the number of unemployed in Brazil is also very high. We believe in the advancement of the national economy and the organization of assets, which will thus prevent what is happening in Venezuela from occurring in our country. Below is the link to the IBGE website detailing the information above.
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