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(Reuters) - Brazil’s Petrobras on Monday projected a surge in oil exports and divestments over the next five years as it steps up plans to target overseas demand and cut debt. In a virtual presentation to investors during the state-controlled company’s annual investor day, Petroleo Brasileiro SA, as it is formally known, said domestic oil... Continue Reading →
The companies EnP, Oil Group and Porto Central, today signed (26) a memorandum of intent to develop the project of a Refinery in Espírito Santo. The event was held in Vitória, with the presence of Governor Renato Casa Grande. RefinES is being studied to be implemented in the Porto Central area, a port industrial complex... Continue Reading →
(Bloomberg) Petrobras expects oil exports in December to be between 40% and 50% below the year average. Brazil is expected to halve oil exports in December in light of easing restrictions against the coronavirus with the arrival of summer, which tends to increase fuel consumption in the country. Petrobras (PETR3; PETR4) expects oil exports in... Continue Reading →
While offshore Brazil, Guyana and to a lesser extent Suriname are gaining the lion’s share of attention when it comes to South American offshore oil, with opportunities opening-up in Colombia. The Andean country’s Caribbean coast is believed to hold considerable oil and natural gas potential. It was with much fanfare that Diego Mesa, Colombia’s Minister of Mines and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has broken the S-10 Diesel sales record for the second consecutive month. In October, the company sold 2.01 million cubic meters, 4.8% above the previous record, in September of this year, when sales reached 1.91 million cubic meters. Also in October, the company recorded total Diesel sales... Continue Reading →
(Reuters) - Petrobras is expected to receive binding proposals on December 10 for its refinery in Rio Grande do Sul, Refap, from the Indian conglomerate Essar Group and local companies Raízen and Ultrapar Participações among potential stakeholders , said people involved in the negotiations. All three companies were pre-qualified for the binding phase of the... Continue Reading →
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend. The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too, even as it strives to grow... Continue Reading →
(Reuters) - Petrobras is in the advanced stages of several major divestments, executives said on Thursday, indicating that the company’s ambitious deleveraging program may quicken after a pause during the worst of the coronavirus outbreak in Brazil. Speaking to analysts following the company's third-quarter results, executives at Petroleo Brasileiro SA PETR4.SA, as the state-run oil firm... Continue Reading →
In November 2007 Brazil’s national oil company, Petrobras, shocked the E&P world by announcing a 5-to-8-Bbbl discovery in a completely unknown geological play: carbonate reservoirs below a 2-km layer of salt, offshore Brazil, in a 2,000-m water depth. This announcement marked the beginning of a complete turnaround in the history of Brazil’s oil and gas... Continue Reading →
(Reuters) Chevron Corp will lay off about 25% of Noble Energy's employees who joined the oil major after its $4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday. A collapse in crude oil prices has forced most oil and gas producers to drastically cut costs by laying off thousands... Continue Reading →
Brazil Energy Insight 