Brought to you by Quest Offshore & Southern Cone Consultants
Petróleo Brasileiro S.A. – Petrobras informs that the Riograndense Petroleum Refinery (RPR) has reached a historic milestone by processing 100% soybean oil in an industrial refining unit for the first time. The test, carried out between the end of October and the beginning of November, opens a new world frontier for biorefining. The technology, developed... Continue Reading →
(Reuters) Shell on Thursday reported third-quarter earnings of $6.2 billion, in line with expectations, on higher refining margins and strong liquefied natural gas (LNG) trading. The company announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the previous three months. It maintained its dividend unchanged at $0.331 per... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, informs that the Gabriel Passos Refinery, Regap, will receive investments to raise its energy efficiency, increase reliability and reduce carbon emissions. These are projects worth around R$ 2 billion by 2027, which reflect actions aligned with the company's Strategic Plan. Preliminary... Continue Reading →
(Reuters) BP on Tuesday reported third-quarter earnings of $3.3 billion, missing analysts' forecasts as strong oil trading and refining margins were offset by weak gas results and the write down of a large chunk of a U.S. windfarm project. The British company maintained its dividend at 7.27 cents per share and extended its $1.5 billion... Continue Reading →
(Reuters) - Asia's largest oil and gas producer PetroChina Co Ltd reported 21% year-on-year growth in third-quarter net profit that hit a record high, as increased production and improving domestic fuel demand offset lower realised oil and gas prices. Net profit rose to 46.38 billion yuan ($6.3 billion), while revenue fell 4.6% to 802 billion... Continue Reading →
(Reuters) Portuguese oil company Galp Energia said on Monday that its adjusted third-quarter profit rose 12% on year as refining margins almost doubled, offsetting a decline in crude output following the sale of its Angolan fields and lower oil prices. It reported a net profit of 210 million euros ($221.84 million), less than the 241... Continue Reading →
(Reuters) - Chevron (CVX.N) posted third-quarter profit that missed Wall Street estimates by a wide margin, sending its share price down in pre-market trading. Oil company earnings have slumped from record year-ago levels as crude prices eased and higher costs crimped refining and chemical profits. Results remain strong by historical standards but are well off year-ago levels.... Continue Reading →
In 3Q23, average production of oil, NGL and natural gas reached 2.88 MMboed, 9.1% higher than in 2Q23, mainly due to the better operational performance of the pre-salt platforms and the lower losses with stoppages and maintenance, besides the ramp-up of platforms P-71 in the Itapu field, FPSO Almirante Barroso in the Búzios field and... Continue Reading →
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 →
Brazil Energy Insight 