Category: downstream

Brazil’s Lula Doubles Down On Oil And Rare Earths As Brazil’s Strategic Future

May 22 (oilprice.com) Brazilian President Luiz Inácio Lula da Silva has explicitly linked oil exploration and rare-earth mining to Brazil's national sovereignty, declaring that the country’s subsoil resources must be used to drive domestic industrialization rather than enrich foreign nations. Speaking at Petrobras’(NYSE:PBR) giant refinery, Refinaria de Paulínia (Replan), in São Paulo, Lula emphasized that Brazil must actively... Continue Reading →

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Exxon Beats Q1 Earnings Estimate

May 1 (Reuters) Exxon Mobil beat estimates for quarterly adjusted earnings on Friday, helped by higher output in Guyana and the Permian Basin, though unadjusted profit dropped to its lowest level in five years due to disruptions from the Iran war that could hit production further in the current quarter. Adjusted earnings for the first... Continue Reading →

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Petrobras 1Q26 Production & Sales Report

April 30 - Petrobras' average production of oil, natural gas liquids (NGL), and natural gas in the first quarter of 2026 reached a record 3.23 million barrels of oil equivalent per day (MMboed). This figure is 3.7% higher than the fourth quarter of 2025 and 16.1% higher than the first quarter of last year, mainly... Continue Reading →

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Petrobras in initial talks to buy back Brazil refinery from Mubadala, sources say

April 13 (Reuters) - Brazilian state-run oil firm Petrobras ​is in initial direct negotiations with Abu Dhabi's ‌Mubadala sovereign wealth fund to repurchase the Mataripe refinery in Brazil, two sources with knowledge of the matter told Reuters on ​Monday. President Luiz Inacio Lula da Silva said last ​month that Petrobras would repurchase the refinery, which had ⁠been sold... Continue Reading →

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