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(Reuters) - Executives at Petrobras said on Friday the Brazilian state-run oil firm would stick to market-oriented fuel pricing policies, after President Jair Bolsonaro criticized the company for making billions in profits while Brazilians felt pain at the pump. Chief Executive José Mauro Coelho said the company would plow ahead with its refinery divestment program,... Continue Reading →
(PN) Petrobras' board of directors held a conference call with investors to detail the financial results for the first quarter. During the call, one of the main novelties was the signaling that the company may disclose some line of business focused on energy transition in its next strategic plan, which should be ready at the... Continue Reading →
(epbr) 3R Petroleum is approaching global trading companies interested in joining the Potiguar Cluster as partners. The company intends to deepen the studies on the financial evaluation of the cluster's infrastructure assets, before taking a decision on a potential partnership. In January, the company signed a contract with Petrobras, in the amount of US$ 1.38... Continue Reading →
(Reuters) BP boosted its share buyback program after net profit soared to its highest in more than a decade on strong oil and gas trading results, as the energy company took a $24 billion charge after exiting its operations in Russia. Soaring oil and gas prices in the wake of the Russian invasion of Ukraine... Continue Reading →
(Reuters) - A major Pemex oil refinery under construction in Mexico is running over budget and unlikely to come online this year as promised, according to documents seen by Reuters and sources close to the project, despite being a presidential priority. The Olmeca refinery has an official $8.9 billion price tag approved by the board... Continue Reading →
(Reuters) - PetroChina (601857.SS) reported on Friday a 41% rise in first-quarter net income to 39.1 billion yuan ($5.9 billion), its best quarterly outturn since September 2020, helped by stronger oil and gas prices amid slower growth in refining. Asia's biggest oil and gas producer said in a filing to the Hong Kong Stock Exchange that its... Continue Reading →
(Reuters) China's top offshore oil and gas producer CNOOC Ltd saw its net income more than double during the first quarter of 2022 from a year ago, on the back of a surge of global oil prices and an increase in domestic oil and gas production. The listed arm of the state-backed CNOOC Group reported its revenue rose 74% year-on-year to... Continue Reading →
In 1Q22, Petrobras kept a solid operating performance, with average oil, NGL and natural gas production reaching 2.80 MMboed, 3.4% above 4Q21. This result was achieved mainly due to the continuity of the ramp-ups of FPSOs Carioca (Sépia field) and P-68 (Berbigão and Sururu fields), located in the pre-salt of Santos Basin, to the lower... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp (600028.SS), reported 25% surge in net income for the first quarter of 2022, a level last seen in the third quarter of 2020, thanks to elevated crude oil prices but weakening fuel demand as tight COVID controls weighed. Asia's top oil refiner, also known as Sinopec, reported 22.61 billion... Continue Reading →
(PN) Acelen, the investment arm of Mubadala Capital, announced that it will invest BRL 500 million in the Mataripe Refinery (formerly RLAM), in Bahia. The funds will be applied to the plant's scheduled maintenance shutdown cycle over the next 12 months. The company's expectation is that up to 4,000 jobs will be generated at the... Continue Reading →
Brazil Energy Insight 