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(Reuters) - The government of Panama and energy companies, including SGP BioEnergy, plan to develop a major, advanced biorefinery to increase supply of lower-carbon aviation fuel, the companies said Wednesday. The move comes as the airline industry seeks to achieve a goal of zero net carbon emissions by 2050 and as governments worldwide are pressing... Continue Reading →
(PN) Petrobras broke the record for processing pre-salt oil at its refineries. In the 1st quarter of 2022, on average, 65% of the oil load processed in the company's refineries originated in the Brazilian pre-salt, a quarterly record. In February 2022, the monthly pre-salt processed volume record was reached with 66%. In 2016, for example,... Continue Reading →
(Reuters) - Brazil's newly appointed Mines and Energy Minister Adolfo Sachsida will face resistance at Petrobras (PETR4.SA) if he pushes to remove import costs from the state-run oil company's fuel price calculations, according to people familiar with the matter. Sachsida has supported the move as a way to ease pressure on consumer prices amid a surge in... Continue Reading →
(Reuters) - Brazil's antitrust watchdog CADE said on Friday that the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to fuel distributor Atem was approved with no restrictions. Brazil's antitrust watchdog CADE has approved the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to Atem, two sources familiar with the matter said on Thursday. Petroleo Brasileiro SA,... Continue Reading →
(Reuters) - Venezuela has begun importing Iranian heavy crude to feed its domestic refineries, documents from the state-run oil company PDVSA showed, a deal that widens a swap agreement signed last year by the U.S. sanctioned countries. The two last year initially agreed to a swap deal, with PDVSA importing Iranian condensate to dilute and... Continue Reading →
(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 →
