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Petrobras published its Sustainability Report, providing a snapshot of the company's progress in its journey towards the Fair Energy Transition in 2024. The investment of US$16.3 billion in low-carbon projects over the next 5 years, the generation of 315 thousand jobs in the same period and the reduction of 40% in absolute CO2e emissions since... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces, following up on the release of June 29, 2023, that it has signed the first three contracts with Consag Engenharia S.A., as a result of competitive bidding, for the completion of the construction of Train 2 of the Abreu e Lima Refinery (RNEST), in Pernambuco. These contracts, amounting to... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that it has started operations at a new Diesel Hydrotreatment Unit at the Paulínia Refinery (Replan), in São Paulo. The operation began three months ahead of the date originally scheduled in the feasibility study, and the project was executed within the approved investment level at the time. With the... Continue Reading →
(Reuters) Portugal's Galp Energia reported a 29% drop in adjusted first-quarter core profit on Monday, hit by falling oil output and a decline in refining margins to less than half the levels booked a year ago. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to 669 million euros, slightly above the average of... Continue Reading →
(Reuters) - Colombia's state-run energy company Ecopetrol plans to invest between $500 million and $700 million to build a plant to produce Sustainable Aviation Fuel (SAF) jet fuel, company's president Ricardo Roa said on Wednesday. The new plant, to be built at the Barrancabermeja refinery, will start its development phase between this and next year, Roa... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras reports that it has completed the modernization work on Train 1 of the Abreu e Lima Refinery (RNEST), located in the city of Ipojuca, in the state of Pernambuco. The renovation and expansion process (Revamp) received investments of approximately R$ 93 million and will expand the unit's processing capacity from... Continue Reading →
(Reuters) - China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry. Sinopec's Hong Kong-listed shares were down 3.3% around 10:40 a.m. local time on Monday after falling as far as 4.5% earlier... Continue Reading →
(oilprice.com) Germany’s biggest utility RWE will supply green hydrogen to France’s oil and gas supermajor TotalEnergies in a 15-year deal from 2030, in one of the largest such agreements globally. RWE to supply around 30,000 metric tons of green hydrogen annually to TotalEnergies from 2030 to 2044, the German utility giant said on Wednesday. The green hydrogen... Continue Reading →
(oilprice.com) Latin America has long been a dominant force in the global energy market, built on vast oil and gas reserves. While the world increasingly eyes renewable sources of energy for the future, hydrocarbons remain the bedrock of economic stability for the region. As energy demand evolves, national oil companies (NOCs) must not forsake oil,... Continue Reading →
(Reuters) - Mexican state oil company Pemex posted a 190.5 billion-peso ($9.1 billion) fourth-quarter net loss on Thursday, following a year-ago profit, citing higher sales costs, lower fixed asset values and currency exchange losses. The ailing giant's production continued to decline during the three-month period, and financial debt remained close to the $100 billion level... Continue Reading →
Brazil Energy Insight 