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(Reuters) - ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. Speaking at a panel at the Bloomberg Qatar Economic Forum in Doha, Woods added that the company had asked the U.S. administration for... Continue Reading →
(Reuters) - Curacao will begin negotiations with a seven-company consortium to take over management of the Caribbean island's oil refinery and storage terminal, state-owned Refineria di Kòrsou (RdK) said on Sunday. Curacao's 330,000-barrel per day Isla refinery was idled in 2018 amid a payment dispute between then-operator Petroleos de Venezuela (PDVSA) and U.S. oil company... Continue Reading →
(Reuters) - Consumers can expect fuel prices at the pump to remain high into next year due to disruptions to Russian oil supplies and as refineries struggle to meet demand recovering from the pandemic, consultancy Wood Mackenzie said. The pressure should ease in the second half of next year when several new large refineries including... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/25/2022, informs that the company Grepar Participações Ltda. (Grepar), which entered into an agreement with Petrobras for the sale of the Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) refinery and its associated logistics assets, sent a notification informing changes in its corporate... Continue Reading →
(Reuters) - Mexican President Andres Manuel Lopez Obrador said Wednesday the country expected crude processing in six state-run Petroleos Mexicanos (Pemex) refineries to increase to 1.2 million barrels per day, up from the current level of 840,000 barrels per day. Lopez Obrador said in a regular news conference that the Olmeca refinery along the coast... Continue Reading →
(PN) Petrobras launched this week a tender for contracting inspection services in its industrial assets located on land and sea. The tender covers both refining units as well as platform ships currently in operation in the Brazilian pre-salt. The expectation is that the opening of the envelopes with the proposals will take place on the... Continue Reading →
(Reuters) - Ecuador's state-run oil company Petroecuador on Thursday launched an auction for private companies to bid for a flagship offshore natural gas field, aiming at increasing the Andean country's production. Petrocuador is looking for a partner for exploring and developing the Amistad natural gas field, at the nation's Guayaquil Gulf, currently producing 24 million... Continue Reading →
Amid successive changes of command, Petrobras will need to ask CADE (Administrative Council for Economic Defense) for more time to sell the refineries it needs to make available to the market because of an agreement signed with the antitrust body in 2019. More than two years after the agreement for the sale of the eight... Continue Reading →
(OE) Forecasters on Thursday amped up their outlook for the U.S. Atlantic hurricane season, saying warm sea temperatures and the absence of a moderating wind shear portend a "well-above average" number of storms. Colorado State University researchers raised their estimate for tropical storms, hurricanes and major hurricanes by one apiece to 20, 10 and five, respectively. There is a... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, aiming to facilitate access to information on fuel prices, launched, today, a new website where it presents, in a didactic way and more user-friendly look, the parts involved in the formation of gasoline, diesel and cooking gas (LPG) prices. The new site (precos.petrobras.com.br), in addition to providing information on price... Continue Reading →
Brazil Energy Insight 