Colombia’s Ecopetrol reports record net profit of $6.9 bln for 2022

(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 →

Petrobras on the sale of the LUBNOR refinery

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 →

Finance: Investors Become Super-Bullish on Oil

(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 →

Petrobras reinforces security at refineries after threats

 (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 →

Brazil’s Petrobras to play leading role on refinery expansion -new energy minister

(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 →

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