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(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 →
(Reuters) - Major global trading houses are planning to reduce crude and fuel purchases from Russia's state-controlled oil companies as early as May 15, sources said, to avoid falling foul of European Union sanctions on Russia. The EU has not imposed a ban on imports of Russian oil in response to Russia's invasion of Ukraine,... Continue Reading →
(Reuters) - Record volumes of fuel oil from Latin America landed in the United States in March, customs data showed, as refiners snapped up alternatives to Russian feedstocks ahead of Washington's April 22 deadline to end U.S. imports of Russian oil. U.S. Gulf Coast refiners that use fuel oil to supplement heavy crude went hunting... Continue Reading →
(PB) Company is producing as much as possible under safe, sustainable and economic conditions Petrobras reached 91% of total load factor of the refining park in the last week of March 2022. The average load factor considering the whole month was 89%. In 2021, the average level of utilization of Petrobras refineries was 83%, the... Continue Reading →
(Reuters) - Brazil antitrust watchdog CADE extended the deadline for Petrobras (PETR4.SA) to sell its refineries as part of obligations assumed by the company in an agreement to stimulate competition in the local oil refining market, the agency said on Wednesday. The new schedule for the sales was not disclosed by CADE in order not to prejudice... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/25/2021, concerning the sale process of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A., informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) published on 03/08/2022 a dispatch declaring the Act of Concentration to be complex and ordering the... Continue Reading →
(OE) Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers. The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras will closely monitor international price swings following Russia's invasion of Ukraine before making any decisions on domestic fuel prices, the firm's logistics and trading head said on Thursday. The company, formally Petroleo Brasileiro SA , says it aligns domestic prices with international rates but allows prices to decouple... Continue Reading →
In 4Q21, Petrobras posted solid operational and financial results. According to Petrobras’ CEO, Joaquim Silva e Luna, “Petrobras generated consistent results in 4Q21, demonstrating that a healthy company committed to society is capable of growing, investing, generating jobs, paying taxes and returning money to its shareholders, effectively contributing to the country’s development. None of this... Continue Reading →
(Reuters) - Brazilian state run oil firm Petrobras should raise gasoline prices in the domestic market to reflect high international oil prices and level the playing field, Ricardo Mussa, chief executive of energy company Raizen (RAIZ4.SA), said on Tuesday. "At some point, Petrobras will have to make a move in gasoline ... (the current price situation)... Continue Reading →
Brazil Energy Insight 