(Reuters) - BP Plc (BP.L) will market Guyana's share of crude oil produced over the next year from two offshore production platforms, the South American country's Ministry of Natural Resources said. Guyana is home to one of the largest oil discoveries in the last decade, with about 11 billion barrels found to date. A consortium that controls... Continue Reading →
Petrobras on the sale of REGAP Refinery
Petróleo Brasileiro S.A. – Petrobras informs that it has received a binding proposal for the sale of the Gabriel Passos Refinery (REGAP), in Minas Gerais, but decided to close the process, since the conditions of the presented proposal were below Petrobras' economic and financial evaluation. Thus, the company will evaluate the appropriate moment to start... Continue Reading →
Petrobras concludes the sale of SIX
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 11/11/2021, informs that it has today finalized the sale of the shares of the company Paraná Xisto S.A (Paraná Xisto), which was formed to hold the Shale Industrialization Unit (SIX), located in São Mateus do Sul, Paraná, to Forbes Resources Brazil Holding S.A.... Continue Reading →
The president-elect Lula’s program is to transform Petrobras into an integrated energy company
(epbr) Petrobras to invest again is one of the main promises of Luiz Inácio Lula da Silva for his third term as President of the Republic. The government program states that the state-owned company must be an integrated energy company, focusing on the energy transition. -- For that, Petrobras would need to develop new projects... Continue Reading →
PetroChina posts record $16.7 bln net income in Jan to Sept period
(Reuters) - Asia's largest oil and gas producer PetroChina Co Ltd reported a 60% year-on-year rise in nine-month net profit to record highs, lifted by stronger global energy prices, even as weaker domestic fuel consumption continued to drag on earnings. Net profit for the January to September period reached 120.3 billion yuan ($16.66 billion), the... Continue Reading →
Petrobras highlights on production and sales in 3Q22
In 3Q22, Petrobras kept a solid operating performance, with average production of oil, NGL and natural gas reaching 2.64 MMboed, virtually in line with 2Q22. Results in 3Q22 fully contemplate the impacts of the production sharing contracts related to the Transfer of Rights Surplus Volumes of Atapu and Sepia - which became effective on May... Continue Reading →
Guyana Launches Tender for Its First Oil Refinery
(Reuters) Guyana has called for proposals to design, finance and build a 30,000-barrel-per-day (bpd) oil refinery, the first for the South American country as it becomes a force in crude oil production. Construction work on the facility, to be located on public land near the Berbice river, is expected to begin by the first half... Continue Reading →
Ecuador to Launch Auction for Offshore Blocks in 2024
(Reuters) Ecuador is planning to offer, most likely in 2024, blocks for offshore exploration and production of natural gas at the Gulf of Guayaquil, following auctions for onshore areas to be completed next year, Energy Minister Xavier Vera said on Monday. Vera expects to greenlight a proposal in the coming months once blocks are defined... Continue Reading →
Lula and Bolsonaro in the second presidential round, their proposals for the energy sector
(PN) The decision on who will run the country for the next four years will be decided on the 30th. With 99.90% of the votes counted, former president Luiz Inácio Lula da Silva (PT) has 48.41% of the valid votes, against 43.22% of his opponent, the incumbent president Jair Bolsonaro. The counting of votes showed... Continue Reading →
Brazil’s oil sector braces for election fallout
Presidential campaign rhetoric raises fears of return to failed policies (U) Brazilian politicians have a long track record of meddling in the country’s oil and gas sector, particularly on the thorny topic of fuel prices. And with Brazil's presidential elections just around the corner, there are fears that a change in government will bring a... Continue Reading →
Brazil Energy Insight 