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The chief executive officer of Brazil’s state-owned utility Eletrobras remains confident that a controversial plan to take the company private will succeed this year despite opposition from lawmakers and an upcoming presidential election. Congress is well positioned to approve a bill by July to privatize Latin America’s largest power company, months in advance of October’s presidential election,... Continue Reading →
Brazil’s state-controlled oil company Petroleo Brasileiro SA is making “interesting discoveries” in blocks in the Campos basin, off the Rio de Janeiro coast, where it is drilling deeper to reach the pre-salt layer, Chief Executive Pedro Parente said on Wednesday. Read more
Chevron Corp. raised its quarterly dividend as the world’s third-largest oil explorer by market value emerges from the worst crude market collapse in decades. Chevron will pay investors $1.12 a share, the San Ramon, California-based driller said Wednesday in a statement. Chevron has been expected to boost the dividend by 3 cents to $1.11, according to a... Continue Reading →
The oil-price rally worked both ways for Royal Dutch Shell Plc as improved exploration and production lifted profit to a three-year high while refining and trading fell short of expectations as margins shrank. Crude’s surge raised adjusted profit at Europe’s largest energy company to $4.3 billion last quarter, the highest since 2014. While the bottom line was... Continue Reading →
Brazil's pre-salt oil and gas production reached 1.68 million barrels of oil equivalent per day in December, accounting for 50.7% of the country's total production, according to data from the National Petroleum Agency ( ANP). This is the first time that pre-salt production has exceeded post-production in Brazil. The trend is to increase month by... Continue Reading →
Like its ocean-crossing oil tankers, Exxon Mobil Corp.’s strategy can take some time to turn. When it does, the impact can be striking. Since Darren Woods replaced Rex Tillerson as chief executive officer in January 2017, Big Oil’s biggest producer has quietly assembled a vast portfolio of new resources, pumping billions of dollars into exploration and... Continue Reading →
Rio de Janeiro, January 30, 2018 - Petróleo Brasileiro SA - Petrobras, further to the press release disclosed on December 5, 2017 and December 14, 2017, informs that it has made today the prepayment of the remaining balance of the financing agreement with China Development Bank contracted in 2009 in the amount of US$ 2.8... Continue Reading →
PetroChina Co., the country’s biggest oil and gas producer, forecast that full-year profit rebounded off a record low and may have tripled amid cost cutting and higher energy prices. Read more
January 29, 2018 Petrobras and Exxon, the main players in the 14th round of bids of the National Petroleum Agency (ANP), signed on Monday (29) the contracts related to the blocks sold at the auction held in September last year. To remind you, the companies were a consortium to make the biggest bids of the... Continue Reading →
Rio de Janeiro, January 29, 2018 - Petróleo Brasileiro S.A. - Petrobras, further to the press release disclosed on August 23, 2017 and January 2, 2018, informs that its Board of Directors approved today the adhesion to the installment payment program established by Law 13586/2017, which covers the processes related to the requirement of Withholding... Continue Reading →
Brazil Energy Insight 