(Reuters) - Consortia led by Brazil's 3R Petroleum Oleo e Gas SA (RRRP3.SA) and private equity firm Seacrest Capital have submitted binding offers for a refinery and dozens of oilfields owned by state-run Petrobras, three people familiar with the matter told Reuters. Polo Potiguar is expected to fetch Petroleo Brasileiro SA (PETR4.SA) from several hundred million dollars to over... Continue Reading →
Petrobras has Cade’s approval to sell the RLAM refinery to the Mubadala group
Petrobras has the approval of the Brazilian antitrust agency for the sale of its Landulpho Alves (RLAM) refinery, in Bahia, to Mubadala Investment Company, a sovereign fund of the Abu Dhabi government. The Administrative Council for Economic Defense (Cade) approved the transaction without restrictions, according to a publication in the Federal Official Gazette this Wednesday... Continue Reading →
EXCLUSIVE China tells PetroChina to stop trading off oil quotas with teapots
(Reuters) Chinese authorities have ordered a unit of state-run PetroChina to stop trading off crude oil import quotas with local refineries as part of a crackdown on excessive fuel production, a move that could cut the country's crude imports by 3%, sources said. Beijing has stepped up scrutiny of crude oil quota use and imports... Continue Reading →
Pre-salt oil processing will be increased at Petrobras refineries
Petrobras is sustainably increasing the share of pre-salt oil used in its refineries, in line with the demands and opportunities of the national and international market. Between January and April 2021, around 55% of refined oil originated in the Brazilian pre-salt. During this period, the company surpassed the mark of 1 million barrels of processed... Continue Reading →
Petronas Says Demand Recovery Uncertain as 1Q Profit Doubles
Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic. Petronas said on Monday it made a post-tax profit of 9.3 billion ringgit ($2.25 billion) in January-March, against 4.5 billion ringgit in the same quarter... Continue Reading →
Petrobras to make a scheduled maintenance stop at Abreu e Lima Refinery (RNEST)
(epbr) Petrobras will stop processing at the Abreu e Lima Refinery (RNEST), in Pernambuco, between the months of June and August, for the first scheduled maintenance stop at the unit. - RNEST has the capacity to process 130,000 barrels of oil per day (train 1), with a focus on diesel production (70%). It was designed... Continue Reading →
Shell accepts unsolicited offer from Pemex for Deer Park, TX refinery stake
(WO) Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex). The transaction will transfer Shell’s interest in... Continue Reading →
Petrobras on RefTOP Refining Program
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/18/2020, informs that it is launching the RefTOP - World Class Refining program with the objective of being among the best oil refining companies in the world. RefTOP consists of a set of initiatives that seek to implement improvements to increase the efficiency... Continue Reading →
Petrobras on record sales of S-10 Diesel
Petróleo Brasileiro S.A. – Petrobras informs that in April it registered total diesel sales of around 824,000 bpd, representing 59% growth in comparison with sales in April 2020. In the comparison with April 2019, without the impacts on demand resulting from the pandemic, there was a growth of 12%. Also in April 2021, Petrobras exceeded... Continue Reading →
Petrobras on deadline for sale of assets under TCCs
Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board approved, on today's date, the execution of amendments to the Commitment Terms (TCCs) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the negotiations for the effective conclusion of the negotiation processes and signing of... Continue Reading →
