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Nov. 10 - In a quarter marked by strong operational performance, with record results in the E&P, Refining and Marketing segments, Petrobras reported net income of BRL 39.8 billion (US$ 7.7 billion) in the third quarter of 2024. Excluding one-off items in the quarter, net income reached BRL 47.9 billion (US$ 9.3 billion), representing a... Continue Reading →
Nov 3 (Reuters) - A consortium led by US billionaire Todd Boehly is preparing a securities swap to acquire sanctioned Russian oil major Lukoil's international assets and a deal is expected within weeks, four people close to the sales process said. A bank acting on behalf of the consortium has purchased billions of dollars of... Continue Reading →
Oct 30 (Reuters) - US oil majors ExxonMobil and Chevron both beat analyst expectations for quarterly profit on Friday, as soaring refining margins increased earnings from their fuel-making businesses – which typically have smaller profits – to rival the upstream segments. The US-Israeli war with Iran and the conflict between Russia and Ukraine have disrupted... Continue Reading →
Oct. 28 (Petrobras) In 3Q26, our average production of oil, NGL, and natural gas reached a record of 3.512 MMboed, 11.7% higher than 3Q25 and 5.3% higher than 2Q26, due primarily to the highest production efficiency level in eight years, the ramp-up of P-78 and P-79 FPSOs in Búzios field, FPSO Alexandre de Gusmão reaching... Continue Reading →
Oct. 5 (offshore-energy.biz) U.S.-headquartered energy technology giant Baker Hughes has teamed up with PDVSA, Lindsayca, and Fulcrum LNG in a strategic alliance aimed at overhauling Venezuela’s natural gas infrastructure and establishing the nation's very first liquefied natural gas (LNG) export capabilities. The company has signed a new agreement with PDVSA, Lindsayca, and Fulcrum LNG that... Continue Reading →
Sept 15 (Reuters) - Colombia's state-controlled oil company Ecopetrol on Tuesday approved a sweeping board overhaul proposed by newly inaugurated President Abelardo De La Espriella's government, as the company reels from corruption allegations and another senior management shake-up. Current chairman Luis Felipe Henao was reappointed to the nine-member board, along with Cesar Loza, and Ricardo... Continue Reading →
Aug. 31 (finance.yahoo.com) Ali Moshiri, CEO of Amos Global Energy and former President of Chevron Africa and Latin America, recently appeared on CNBC to weigh in on what an ownership stake in Venezuelan oil fields could mean for the U.S. He believes that one of the biggest advantages of the deal will be that Venezuelan oil... Continue Reading →
Aug. 27 (oilprice.com) The Trump administration is reportedly in active discussions with Venezuela’s interim government to acquire a direct U.S. ownership stake in key Venezuelan oil fields. According to senior U.S. officials cited by Axios, the talks involve equity stakes in a select group of high-yield fields containing approximately 90 billion barrels of proven crude—a transaction... Continue Reading →
Aug. 25 (Reuters) British oil major Shell has shelved its Aphrodite offshore gas project in Trinidad and Tobago after disagreements over commercial terms with Trinidad's National Gas Company, three people familiar with the decision said on Monday. Shell had given the project a positive final investment decision last year, but it has decided for now... Continue Reading →
Aug 17 (Reuters) - The U.S. diesel crack, a key measure of refining profitability, hit an all-time high of $102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season. Measured as the premium of U.S. diesel futures over U.S. West Texas Intermediate crude oil futures , the... Continue Reading →
