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Petróleo Brasileiro S.A. – Petrobras informs that in September its refining units reached 97% utilization for the second consecutive month. As a result, the Total Utilization Factor (FUT) of the refineries in 3Q23 reached 95.8%, the best result since 2014. The largest refinery in the country, the Paulínia Refinery (Replan), broke its utilization record, processing... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that, as disclosed to the market on 06/29/2023, the company decided to continue with the implementation of Train 2 of the Abreu e Lima Refinery - RNEST, after a decision based on a careful reassessment of the RNEST Project which,... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) remains eager to repurchase a refinery from Abu Dhabi state investor Mubadala despite antitrust barriers, and a new biofuels partnership could open the door to future talks, two sources told Reuters. Petrobras on Monday announced a memorandum of understanding with Mubadala for potential investment in a biofuel refinery under development in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a memorandum of understanding with MIC Capital Partners (Brazil Strategic Opportunities), a Multi-strategy Equity Investment Fund of the Mubadala Capital Group, to develop studies covering future business in the downstream segment, with emphasis on evaluating Petrobras' participation in a biorefining project. The Mubadala Capital Group... Continue Reading →
(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 informs that it is in the final phase of studies for the resumption of fertilizer production at Araucária Nitrogenados (ANSA), its subsidiary in Paraná. After finalizing the technical and economic feasibility studies, the resumption project will be submitted for approval by the company's Executive Board and Board of Directors. The... Continue Reading →
(PN) Petrobras will have 47 projects included in the new Growth Acceleration Program (PAC), launched this Friday, in Rio de Janeiro, by President Luiz Inácio Lula da Silva. The company's investments in PAC 2023 amount to R$ 323 billion. The president of Petrobras, Jean Paul Prates, highlighted, among them, pre-salt production systems, revitalization of conventional... 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 →
(Reuters) Guyana and the Dominican Republic on Tuesday signed a memorandum of understanding to cooperate on recruiting companies to build a 50,000-barrel-per-day refinery in Guyana that would tap the country's oil wealth. Any project would be at least 51% owned by the Dominican Republic government, according to the terms of the preliminary agreement, which was... Continue Reading →
(Reuters) - Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages eased amid global... Continue Reading →
Brazil Energy Insight 