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(Reuters) - Mexico's Petroleos Mexicanos (Pemex) said on Tuesday it would drastically reduce planned crude exports next year as the state oil company works to meet the government's target of refining all of its oil domestically. Pemex Chief Executive Officer Octavio Romero projected that its crude exportswould fall to 435,000 barrels per day (bpd) in... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras has partnered with fuel distributor Vibra Energia SA (VBBR3.SA) to test its new renewable diesel made partly from edible oils, it said in a statement on Tuesday. Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said the fuel will be tested starting next month by fleet owner Auto Viacao... Continue Reading →
(Reuters) - The U.S. government has authorized the purchase by Petroleos Mexicanos (Pemex) of Royal Dutch Shell's (RDSa.L) controlling interest in a Texas oil refinery in a transaction that should conclude early next year, Mexico's government said Wednesday. Mexican President Andres Manuel Lopez Obrador told a regular news conference that the U.S. government had on Tuesday approved... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) will start testing new renewable diesel based on co-processed edible oils with customers in January, while awaiting regulatory approval to sell it commercially, the company's refining director told Reuters. The tests are expected to take about six months and will be backed by a fuel distributor and a bus... Continue Reading →
(Reuters) - A sale of Royal Dutch Shell's (RDSa.L) controlling interest in a Texas refinery to Mexican state oil company Petroleos Mexicanos has been delayed until next year, two people familiar with the matter said on Thursday. A review of the deal by U.S. Committee on Foreign Investment in the United States had been expected to wrap... Continue Reading →
The active portfolio management developed by Petrobras in 2021 resulted in the company's cash inflow of approximately US$4.8 billion by December 7th. These resources, which are essential for the company to be able to invest in assets that provide greater returns, are the result of the signing of the sale of 17 assets and the... Continue Reading →
(Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) has raised prices at least once in the middle of the divestiture process of its largest refineries, frustrating some bidders and delaying the long awaited promise of breaking Petrobras' monopoly in refining, four sources with knowledge of the matter told Reuters. Bidders were surprised by what they describe as... Continue Reading →
(Yahoo) Petroleos Mexicanos could end up spending about $1.6 billion to take over Royal Dutch Shell Plc’s Deer Park refinery, more than twice the price announced in May, even as its finances are so dismal the government is injecting billions of dollars into the state oil producer. Pemex, as the company is known, has requested... Continue Reading →
Unions of oil workers across the country, linked to the Single Federation of Oil Tankers (FUP), held a national act of protest in front of Petrobras refineries located from north to south of Brazil, in protest against the privatization of the company's refining units. The movement began at the Landulpho Alves Refinery (RLAM), in Bahia,... Continue Reading →
U.S. energy major ExxonMobil has finalized its corporate plans, which increase spending to $15 billion on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its portfolio. Exxon has also increased its annual dividend payment for the 39th consecutive year. As explained by ExxonMobil on Wednesday, the plans support... Continue Reading →
Brazil Energy Insight 