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(Reuters) - Petrobras' Brazil-listed shares jumped more than 6% on Friday, approaching a 12-year high, after the state-run oil company smashed quarterly profit estimates and announced a record dividend payment. The company announced on Thursday afternoon an 87.8 billion-real ($17 billion) dividend payout, the largest ever, sending the firm's shares up some 3.3% in intraday... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Thursday it will cut gasoline prices at its refineries to 3.71 reais ($0.7110) per liter from 3.86 reais starting Friday, a 4% cut that will take prices to their lowest level since March. The move is the second gasoline price cut by the oil giant this month... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 06/27/2022, informs that it has extended the deadlines for participation in the sale processes of Refinaria Abreu e Lima (RNEST), in Pernambuco, Refinaria Presidente Getúlio Vargas (REPAR), in Paraná, and Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, as well as the... Continue Reading →
(Reuters) - A new battle for control of Citgo Petroleum, the eighth largest U.S. oil refiner and Venezuela's foreign crown jewel, could soon be unleashed under a proposed management shake-up by the South American country's opposition lawmakers. The revamping would come despite the company posting strong profits after two years of losses and could lead... Continue Reading →
(Reuters) - Shell (SHEL.L) said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. In an update before second quarter results on July 28, Shell also said it would reverse up to $4.5 billion in writedowns on oil and gas assets... Continue Reading →
(Reuters) - Wall Street analysts sharply increased their Exxon Mobil Corp(XOM.N)second-quarter profit estimates after a securities filing showed motor fuel sales rose $5 billion from the first quarter. Oil and gas prices soared in the first half, with crude selling for more than $105 per barrel and U.S. pump prices for gasoline surging to about... Continue Reading →
(Reuters) - Mexican President Andres Manuel Lopez Obrador formally opened a major new oil refinery on Friday, a signature project for the leftist leader who argues it will help the country cut a longstanding dependence on foreign gasoline and diesel supplies. The Olmeca refinery owned and operated by state-run oil company Pemex is billions of... Continue Reading →
(Reuters) - More than two weeks of protests in Ecuador caused state-run oil company Petroecuador to lose 1.99 million barrels of oil production, the company said on Friday, adding that it expects to reach 90% of pre-crisis output in the next week. Protests erupted in Ecuador in June to demand lower fuel prices and limits... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 02/08/2021, 08/25/2021, and 10/01/2021, informs that today it has restarted the processes for the sale of Refinaria Abreu e Lima (RNEST), in Pernambuco, Refinaria Presidente Getúlio Vargas (REPAR), in Paraná, and Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, as well as... Continue Reading →
(Reuters) - Mexico's state-owned oil company Pemex (PEMX.UL) substantially increased crude oil exports to the North American market in May, according to the firm's most recent report, which shows a significant cut in shipments to Europe and Asia. Pemex said its crude exports averaged 965,000 barrels per day (bpd) in May, and some 740,000 bpd... Continue Reading →
Brazil Energy Insight 