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(Reuters) - Peru's state-owned Petroperu hopes to once again extract oil in the Andean nation by the end of the year to supply crude to its Talara refinery, the government said on Wednesday. The move, under new socialist President Pedro Castillo, signals a return to oil production for Petroperu after more than two decades focused... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) confirmed it will not be able to meet "atypical demand" from fuel distributors in November that has surpassed its production capacity, raising fears of supply shortages in the country. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing late on Monday that it has... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras clarifies about pieces of news in the media regarding cuts in fuel orders fulfillment. As disclosed in the 2Q21 Production and Sales Report, the company operated its refining facilities in the first half of 2021 with a utilization factor (UF) of 79%, in line with the 2020 average and higher... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that production at five of its blocks was reduced by some 31,000 barrels because of an electrical failure in the country's Amazon region. The failure occurred on Thursday at a substation run by the state electrical company, leaving areas of Sucumbios and Orellana provinces -... Continue Reading →
(OE) By David Linden Head of Energy Transition at Westwood Global Energy Group If we want to reach net zero by 2050, there is an increasingly high risk that some of the oil and gas infrastructure investments (i.e. in platforms, pipelines, processors, storage sites etc) made today will result in stranded assets. In other words,... Continue Reading →
(PetroNoticias) The first oil transfer operation of the FPSO Carioca – the first definitive production system installed in the Sepia field, in the Santos Basin pre-salt – destined oil for the production of oil products at the Henrique Lage Refinery (Revap ) and at the Paulínia Refinery (Replan), in São Paulo. The oil produced in... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August's Hurricane Ida. However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cashflows from soaring natural gas and electricity prices. Gas and power prices have been... Continue Reading →
(Reuters) - The first stock offering for the divestment of stakes by shareholders in Braskem should take place in the fourth quarter and could reach 9 billion reais, according to three people with knowledge of the matter. Novonor (formerly Odebrecht), creditor banks and Petrobras are discussing a plan to sell the company in several equity... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 01/19/2021, informs that it has finalized without success the negotiations with Ultrapar Participações S.A. (Ultrapar) for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul. Despite the efforts made by both companies in this process, certain critical conditions were not... Continue Reading →
(Reuters) - A global drive towards electrification of road transport to reduce carbon emissions may cut demand for the world's oil refining capacity by half in 2050, consultancy Rystad Energy says. "Going forward we will be touching by 2050 somewhere very close to 90% of electrification," Mukesh Sahdev, senior vice president and head of downstream... Continue Reading →
Brazil Energy Insight 