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In 1Q23, average oil, NGL and natural gas production reached 2.68 MMboed, 1.1% higher than 4Q22, mainly due to the start of the ramp-up of P-71, in Itapu field, in Santos Basin pre-salt, the start-up of 8 new wells in Campos Basin and higher production efficiencies in the platforms. Pre-salt production reached a new monthly... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has received Official Letter nr. 299/2023/GM-MME, by means of which the Ministry of Mines and Energy has requested information, based on Article 26, item II, of Decree-Law nr. 200, to assist the Civil House in the preparation of the new Growth Acceleration Program. Thus, in response to... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed a contract to expand and modernize units already in operation at Abreu e Lima Refinery (RNEST), in Pernambuco. After the completion of the works, expected for the fourth quarter of 2024, the refinery will have an increase in the total processing capacity of Train 1:... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, clarifies that as part of its BioRefining Program it is conducting new project studies to expand the production of Diesel R, Petrobras fuel produced by co-processing mineral diesel with vegetable oil, which contains a portion of green diesel (HVO), which may... Continue Reading →
(Reuters) - Mubadala Capital backed-Acelen will invest 12 billion reais ($2.44 billion) over 10 years to make "green" diesel and jet fuel in Brazil, starting in 2026, in a move that will place the company among global leaders in this segment, executives told Reuters. The new biorefinery, which the energy company plans to begin building... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its CEO, Jean Paul Prates, submitted to the Executive Board, which in turn, discussed and validated the following proposals, to be considered in the Strategic Planning, in compliance with current governance practices, the commitment to create value and the company's long-term financial sustainability: 1) Total attention to people,... Continue Reading →
(Reuters) - Shell (SHEL.L) is splitting up its renewables and low-carbon division as part of CEO Wael Sawan's shake-up to boost the energy giant's returns. The changes come as Sawan, who took office at the start of the year, has signalled in recent weeks that Shell is considering ditching oil reduction output targets as part of its... Continue Reading →
(epbr) The temporary suspension of the sale of Petrobras assets, requested by the government, involves a list of deals in progress and about US$ 2 billion in contracts already signed and which are still waiting for an outcome. The president of Petrobras, Jean Paul Prates, said last week that he sees the request as an... Continue Reading →
With a strong sense of accomplishment, we are very proud to share 2022 results. They are the synthesis of a long trajectory of huge challenges which were overcome, efficient management, consistent strategic choices which were vindicated and the focus on value generation, all of which are today reflected in excellent economic and financial results and... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) on Tuesday reported record net profit of 33.4 trillion pesos ($6.9 billion) for 2022, double the previous year, boosted by higher oil prices and greater-than-expected production. Ecopetrol also reported a fourth-quarter net profit of 6.85 trillion pesos, up 13% from a year earlier. Reuters Graphics "During 2022 Ecopetrol... Continue Reading →
Brazil Energy Insight 