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Petróleo Brasileiro S.A. - Petrobras, in reference to the release of May 25, 2022, informs that following up on the approval process of the sale transaction of Refinaria Lubrificantes e Derivados do Nordeste - LUBNOR, on today's date, the Court of the Administrative Council for Economic Defense - CADE approved an order from Councilors Vitor... Continue Reading →
In 2022, we delivered an excellent operational performance, meeting all production targets for the year, with the following marks recorded: In 2022, we achieved an annual record in operated production, with an average of 3.64 MMboed. This result was mainly due to the start-up of FPSO Guanabara (Mero field) and P-71 (Itapu field), as well... Continue Reading →
(Reuters) Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020. China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about... Continue Reading →
(Reuters) - Petroleo Brasileiro SA (PETR4.SA) stepped up security at its refineries in a precautionary measure after threats against assets, including Brazil's biggest fuel plant, two company officials said, speaking on condition of anonymity. The threats were detected by Petrobras' intelligence unit monitoring social media communications of supporters of Brazil's far-right former President Jair Bolsonaro, the two... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil giant Petrobras should abandon planned divestments in refining and natural gas and expand in those areas instead, according to a detailed report from President Luiz Inacio Lula da Silva’s transition team. The document, drafted in late 2022 by a group of energy experts aligned with Lula, recommends that Petrobras start... Continue Reading →
(Reuters) - U.S. oil producer Chevron Corp (CVX.N) plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from... Continue Reading →
(Reuters) - Brazil's new mines and energy minister Alexandre Silveira said on Monday that state-run oil company Petrobras (PETR4.SA) would play a leading role in expanding the refining sector, and stressed the importance of developing renewable resources. Petrobras would encourage other groups to join the process, Silveira said during an official event to start his term in... Continue Reading →
(Bloomberg) -- Petrobras’s new management should carry out a two-month review of the oil giant’s business plan to bring it more into line with Brazilian President-elect Luiz Inacio Lula da Silva’s wider policy goals, according recommendations from Lula’s transition team. The energy experts who worked on Lula’s transition concluded that Petrobras’s existing $78 billion five-year... Continue Reading →
(Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bpd), with exports of about... Continue Reading →
Brazil Energy Insight 