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(Reuters) - Exxon Mobil (XOM.N), opens new tab on Wednesday signaled first-quarter operating results would drop over the prior quarter on weaker oil, gas prices and a big loss in fuel derivatives, a securities filing showed. The drop follows two years of strong oil and fuel prices that turned the largest U.S. oil company into one of... Continue Reading →
(Reuters) - PetroChina's (601857.SS), opens new tab, net profit rose 8.3% last year off record levels in 2022, as strong growth in natural gas sales and its marketing segment offset lower realised oil prices. PetroChina's net profit amounted to 161.1 billion yuan($22.34 billion) in 2023, versus 148.7 billion in 2022, while revenue fell 7.0% to 3,239... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 22, 2023, informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves evaluating the acquisition of a stake in the Mataripe S.A. Refinery (RefMat) and a project under development... Continue Reading →
Dear shareholders and investors, I am very proud to address you today, not only in light of the excellent economic and financial results we are disclosing, but especially because I am convinced that we are building a Petrobras which is more solid, more resilient and able to generate long-term value to its partners and to... Continue Reading →
(Bloomberg) -- Latin America’s biggest oil company will be more cautious about issuing blockbuster dividends as it moves to become a renewable energy powerhouse, Petrobras Chief Executive Officer Jean Paul Prates said in an interview. In 10 years about half of Petrobras’s revenue will come from wind, solar and renewable motor fuels — and the... Continue Reading →
(Reuters) Mexico's Pemex reversed losses in the last three months of 2023 but its overall debt burden remained the highest of any oil company in the world, with billions of dollars due to bond holders and service providers. The state-run company posted a profit of 106.9 billion pesos in the fourth quarter of last year,... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA), opens new tab hopes to settle details of a tie-up with Mubadala to take back control of the operation of a refinery owned by the Abu Dhabi sovereign investor by the end of the first half of the year, Petrobras' chief executive said on Tuesday. CEO Jean Paul Prates... Continue Reading →
In 2023, we delivered an excellent upstream operational performance, meeting all production forecasts for the year. Total annual production of oil and natural gas, of 2.782 MMboed, was 3.7% above the production of 2022. Our good results were made possible mainly by the start-up of FPSOs Almirante Barroso, Anna Nery and Anita Garibaldi, as well... Continue Reading →
(Reuters) - Brazilian state-run oil firm Petrobras (PETR4.SA), opens new tab said on Wednesday that it plans to finish expansion works on Train One of its Abreu e Lima (RNEST) refinery in the first quarter of 2025, nearly a decade after the expansion was halted due to a massive corruption scandal. Work at the second train of... Continue Reading →
(Reuters) - Shell (SHEL.L) on Monday flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. The assets include a 237,000 barrels per day (bpd) refinery and a one million metric ton per year (tpy) ethylene plant... Continue Reading →
Brazil Energy Insight 