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(Reuters) - Brazil's Petrobras is discussing a partnership with Vale to help the mining company lower carbon emissions, the state-run oil firm's Chief Executive Magda Chambriard said on Monday. WHY IT'S IMPORTANT The two Brazilian companies are among the largest in Latin America by market value. Chambriard said the firms will "help each other" decarbonize, with a... Continue Reading →
(Reuters) - BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40%... Continue Reading →
– Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding (MoU) with Gerdau S.A., aimed at evaluating commercial opportunities and potential partnerships in decarbonization projects; low carbon fuels; hydrogen and its products; carbon capture, utilization and storage (CCUS); as well as R&D projects related to the integrity of materials in... Continue Reading →
(Reuters) BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss... Continue Reading →
(Reuters) - BP has agreed to buy grain trader Bunge's 50% stake in Brazilian sugar and ethanol joint venture BP Bunge Bioenergia for $1.4 billion in a bet on growing demand for low-carbon biofuels. Following the completion of the deal, expected by end-2024, BP will take full ownership of Bioenergia which has production capacity of around 50,000... Continue Reading →
Rio de Janeiro, May 13, 2024 Main highlights: Consistent results: adjusted EBITDA of US$ 12.1 billion, Operating Cash Flow (FCO) ofUS$ 9.4 billion and Net profit of US$ 4.8 billion. Financial debt at US$ 27.7 billion, the lowest level since 2010. Gross debt is undercontrol at US$61.8 billion, within the range established in our Strategic... Continue Reading →
(OM In a jam-packed, standing-room-only session at the Offshore Technology Conference (OTC), Petrobras President and CEO Jean Paul Prates emphasized that synergy is the lifeblood of the industry and that collaboration with suppliers and investors will leverage the sector and pave the way for an energy transition without leaving behind workers, service providers, contractors or... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding (MoU) with bp to promote cooperation and business opportunities between the companies. The non-binding agreement covers topics such as Sustainable Fuels, Carbon Credits, Biorefining and Exploration and Production. The companies also aim to work together on research, development, and innovation projects.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a Memorandum of Understanding with Mitsui & Co. (Brasil) S.A. for a non-binding assessment of low-carbon business opportunities in Brazil. The agreement was signed during CERAWeek, a global energy conference being held in Houston, USA. The partnership involves evaluating potential opportunities for the production of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 22, 2023, informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves evaluating the acquisition of a stake in the Mataripe S.A. Refinery (RefMat) and a project under development... Continue Reading →
Brazil Energy Insight 