Brought to you by Quest Offshore & Southern Cone Consultants
The risk of interference in fuel prices is a factor that has delayed the sale of Petrobras refineries, says Fernando Borges, executive director of Exploration and Production at the company, in an interview with epbr. -- The executive argues that it is necessary to preserve the competitiveness of the oil and gas industry, which includes... Continue Reading →
(Reuters) - U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said. The two largest U.S. oil companies want to produce sustainable fuels without ponying up billions of... Continue Reading →
(Reuters) - Brazil's Federal Audit Court (TCU) says there is a risk of fuel shortages in regional markets as a result of the sales of assets by state-controlled oil company Petroleo Brasileiro SA (PETR4.SA), according to a statement on the court's website. The TCU said it found a risk of shortages in an audit of the... Continue Reading →
The finance director of Petrobras, Rodrigo Araújo, revealed that the company received proposals with “substantially lower” values in the sale process of the Presidente Getúlio Vargas Refinery (Repar), located in Paraná. Within the company's divestment program in the refining segment, this transaction is behind in relation to other negotiations, as detailed during a virtual conference... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to execute... Continue Reading →
The Abreu e Lima Refinery (RNEST) begins its first scheduled maintenance shutdown since the unit began operating in 2014. Planned to meet regulatory standards, and essential for the refinery's operational safety, the shutdown will include the maintenance of practically all of the refinery's equipment, such as compressors, engines, vessels, heat exchangers, valves, reactors and others,... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) is considering permanently closing the gasoline-producing fluidic catalytic cracker (FCC) at its 112,229 barrel-per-day (bpd) Pasadena, Texas refinery as part of a possible reconfiguration of the plant, said sources familiar with the company’s deliberations. Idling the shut 52,000-bpd FCC would be part of converting the refinery on the Houston Ship Channel to... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) plans to reduce its refining and chemicals portfolio by more than half, it said in July 2020 without giving a precise timeframe. The move is part of the Anglo-Dutch company's plan to shrink its oil and gas business and expand its renewables and power division to reduce greenhouse gas emissions sharply... Continue Reading →
Determined to increase its production capacity of Diesel S-10 in the coming years, Petrobras announced new investments in the Duque de Caxias (Reduc) and Henrique Lage (Revap) Refineries. Previously, the company had already announced that it would expand another of its plants, the Paulínia Refinery (Replan). The state-owned company claims that the refining segment will... Continue Reading →
(Reuters) - Indian Oil Corp (IOC.NS), the country's top refiner, has made its first purchase of Guyana's Liza light sweet crude as it seeks to diversify its crude purchases, a source familiar with matter said. The 1 million-barrel cargo will set sail around July 4 on Greece-flagged tanker Militos for India's Paradip port, where it is... Continue Reading →
Brazil Energy Insight 