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(Bloomberg) -- The new fuel policy implemented by state-run Petroleo Brasileiro SA is causing trouble for a Mubadala Capital-owned oil refinery, handing bondholders one of the worst returns in Latin America. Mubadala’s Acelen, which operates the refinery in northeast Brazil, saw its notes fall into distressed territory at around 63 cents on the dollar, down... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, reaffirms that it is carrying out due diligence on Braskem, for the possible exercise of tag along or preemptive rights, in the event of the sale of the shares held by Novonor S.A. (Novonor) in the company, in accordance with the... Continue Reading →
(OET) Ecuador’s state-owned oil player EP Petroecuador is inviting investors to participate in a tender process for an offshore natural gas field located in the Gulf of Guayaquil. This is being undertaken to ramp up the production of natural gas from the field in a bid to meet the growing energy demand. With the rising... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media about its participation in Braskem, reaffirms that it is conducting due diligence on Braskem, for the possible exercise of tag along or preemptive rights, in the event of the sale of shares held by Novonor S.A. (Novonor) in the company, according... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) is not planning to sell its 36% stake in petrochemical firm Braskem (BRKM5.SA), newspaper Valor Economico reported on Thursday, citing unnamed sources. Petrobras is one of Braskem's main shareholders alongside conglomerate Novonor (ODBES.UL), which holds a controlling stake in the firm but has sought to sell it to repay creditors... Continue Reading →
(epbr) After taking over the operation of the Potiguar Cluster in June, 3R Petroleum is now seeking partnerships and divestments of some assets that make up the industrial asset of Guamaré (RN), said this the company's financial director, Rodrigo Pizarro . The executive also ruled out, for the time being, plans to increase the capacity... Continue Reading →
(OET) UK-headquartered oil and gas company Tullow Oil has set the wheels in motion to sell its entire interest in Tullow Guyana (TGBV), which includes the Orinduik licence, to Eco Guyana Oil and Gas (Barbados) Limited, a subsidiary of Eco (Atlantic) Oil & Gas, in exchange for a combination of upfront cash and contingent consideration.... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company Petrobras is closely following negotiations for a majority stake in petrochemicals producer Braskem SA and will be ready to act if any of the proposals go forward, Chief Financial Officer Sergio Caetano Leite said during a press conference Friday. Petroleo Brasileiro SA, as it is formally known, has the... Continue Reading →
(Bloomberg) – ExxonMobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review. Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development... Continue Reading →
Petrobras achieved a new presalt production from its fields offshore Brazil of 2.06 MMboe/d during second-quarter 2023, representing 78% of the company’s total output. The previous high of 2.05 MMboe/d was registered in the first quarter. However, the company’s production in the Brazilian post-salt was 9.7% lower than for the previous quarter, at 346,000 bbl/d,... Continue Reading →
Brazil Energy Insight 