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The Supreme Federal Court (STF) has decided that Petrobras can proceed with the sale of half of its refining park. The voting score ended 6 to 4 in favor of the oil company. As is well known, the judgment on the theme in the Court originated after the Senate and Chamber of Deputies questioned the... Continue Reading →
(Reuters) - Exxon Mobil Corp XOM.N expects to post a quarterly loss from its production business for the third consecutive time this year, the largest U.S. oil major said in a filing on Thursday, as it continues to suffer from a crash in commodity prices due to the coronavirus pandemic. Exxon reported its first back-to-back quarterly loss... Continue Reading →
Petrobras' asset portfolio reorganization program, which foresees the sale of eight refineries, is vital to the health of the company that remains the "most indebted oil company in the world", said the lawyer for the state-owned company, Tales David. Macedo, in support of the Federal Supreme Court (STF). The judgment, in an action against sales... Continue Reading →
September 21, 2020 Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media, referring to the divestment of the Presidente Getúlio Vargas Refinery (Repar), clarifies that the binding stage of the competitive process counts with the participation of Ultrapar Participações S.A., the consortium led by Raízen S.A. and China Petroleum &... Continue Reading →
Sept 18, 2020 (Bloomberg) --Petroleos Mexicanos expects a drastic drop in oil exports over the next three years as the company faces the twin challenges of declining output and supplying crude to a controversial new $8 billion refinery championed by the country’s President Andres Manuel Lopez Obrador. Pemex, as the state oil company is also... Continue Reading →
September 18, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it has launched two programs aimed at preparing its refining and natural gas activities for an open, competitive market and to transition into a low carbon economy. Biorefino 2030 forecasts projects for the generation of new, more modern and sustainable fuel, different than the current... Continue Reading →
September 9, 2020 Petróleo Brasileiro S.A. – Petrobras informs that, for the third month in a row, it has broken the production record of S-10 Diesel, low-sulfur diesel. In August, the company's refineries processed 1.84 million m³ of the product, a volume slightly higher than in July, when it reached 1.81 million m³, and 15%... Continue Reading →
July 31, 2020 The downstream segment in Brazil is experiencing a unique moment in its history. The oil refining activity is going through a period of transition to a framework with a greater plurality of agents, more open and dynamic, with numerous planning and regulatory challenges. The Brazilian refining park has a daily oil processing... Continue Reading →
Jul 30, 2020 Petrobras stated in its financial report that it expects to sign until the first quarter of next year the sale of most of its refineries that are in the process of divesting. In addition, the state company also believes that it may definitively conclude these transactions in 2021. Due to the coronavirus... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras informs that it is already producing at all of its refineries and selling to distributors gasoline with RON 93 octane rating, which will only be mandatory in Brazil in 2022, according to the new regulations of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) -... Continue Reading →
