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(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 →
In 2Q23, average production of oil, NGL and natural gas reached 2.64 MMboed, 1.5% lower compared to 1Q23, mainly due to higher volume of losses from stoppages and maintenance, the natural decline of mature fields and divestments. Those effects were partially offset by the ramp-up of P-71, in Itapu field, and the startup of FPSOs... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA) will double down on its strategy to maximize motor fuel from its local refineries even as it boosts imports of cheap Russian diesel, the company's top executive told Reuters on Monday. The comments from CEO Jean Paul Prates follow June data showing that Brazil's foreign diesel purchases rose sharply in... Continue Reading →
(Reuters) - Chinese oil refineries, led by heavyweight Sinopec (600028.SS), are set to boost Brazilian crude imports in the third quarter to replace some of the Saudi Arabian supply it cut after the kingdom hiked prices, industry sources said. China, the world's top crude importer, has booked nearly 1 million barrels per day of Brazilian crude... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday signaled second-quarter operating profits fell sharply on lower natural gas prices and weaker oil refining margins, according to a regulatory filing. Operating earnings dropped to about $7.8 billion from $17.85 billion a year earlier, when surging oil and gas prices after Russia's invasion of Ukraine boosted global energy results... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held yesterday, decided to continue with the implementation of the Train 2 of the Abreu e Lima Refinery - RNEST, whose works were interrupted in 2015. The decision is based on a careful reassessment of the RNEST Project which, in accordance... Continue Reading →
(PN) The court of the Administrative Council for Economic Defense (CADE) gave the green light for the sale of Lubrificantes e Derivados de Petróleo do Nordeste (Lubnor), in Ceará, to Grepar. The transaction was unanimously approved and the process was reported by board member Lenisa Rodrigues (photo). However, the plant will be sold through a... Continue Reading →
(OET) UK-headquartered energy giant Shell has decided to step up its decarbonization efforts by boosting its low-carbon energy solutions business with investments of $10-15 billion over the next two years. This is part of the oil major’s transformation strategy to help usher in a balanced energy transition. Shell is actively working on curbing emissions not... Continue Reading →
Brazil Energy Insight 