Petróleo Brasileiro S.A. - Petrobras, regarding the news published in the media on the divestments progress of the refineries, clarifies: (i) the company has received a binding proposal for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, and is in the negotiation phase with Ultrapar Participações S.A.; (ii) the company has... Continue Reading →
(Reuters) Brazilian group Ultrapar Participacoes SA offered the highest price for Petrobras’ refinery Refap and is leading talks to acquire the facility in the southern state of Rio Grande do Sul, three people close to the matter said. Brazil has been trying sell eight refineries, which would end Petrobras’s virtual monopoly in the country’s refining... Continue Reading →
Rio de Janeiro, January 18, 2021 - Petróleo Brasileiro S.A. - Petrobras in relation to the news published in the media clarifies that the company did not sign the amendment to the Commitment Agreement (“TCC”) signed with the Administrative Council for Economic Defense (CADE) for the refining market. The draft of the amendment was approved... Continue Reading →
Pressured by strict U.S. sanctions, Venezuela's oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro. The administration of U.S. President Donald Trump also put curbs on PDVSA's main trading partners, the owners of tankers still transporting... Continue Reading →
Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from the COVID-19 pandemic. The world’s second-largest economy hunger for energy keeps growing despite the global COVID-19 pandemic and a resultant sharp decline in global economic... Continue Reading →
Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth-quarter results, but the gains would be overshadowed by an up to $20 billion asset write down. The largest U.S. oil producer has posted losses in the first three quarters of 2020 on an ill-timed... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of São Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in the estimated amount of R$... Continue Reading →
Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook. In an update ahead of its fourth quarter results on February 4, Shell said the post-tax charge was... Continue Reading →
(Bloomberg) --Brazil is providing one of the few bright spots for oil demand outside of Asia with the coronavirus continuing to ravage the U.S. and Europe. Fuel consumption in Latin America’s largest economy has already surpassed pre-virus levels and is expected to be stronger than 2019 going into next year on the back of robust... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on July 9, 2020, informs that it has concluded the negotiation phase with the Mubadala Group as part of the process for divesting the Landulpho Alves Refinery (RLAM), in Bahia. As provided by Petrobras' Divestment Methodology, the process is currently undergoing a new round... Continue Reading →
