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(Reuters) Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and... Continue Reading →
(Reuters) Portfolio investors have piled into petroleum futures and options at the fastest rate since the first successful coronavirus vaccines were announced in late 2020. China’s exit from a zero-COVID strategy, along with hopes the global economy can avoid a recession and low oil inventories, have contributed to an extraordinary wave of buying across the... Continue Reading →
(Reuters) - Mexico's government will provide further support to state-run oil company Petroleos Mexicanos (Pemex) and has a plan to ensure that pending bond payments in 2023 are met, President Andres Manuel Lopez Obrador said on Friday. Pemex's debt obligations are being paid on time with the government's assistance, and the finance ministry and Pemex's... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received today, up front, the amount of R$ 1.3 billion, regarding the complement of the firm compensation (earnout) for fiscal year 2022, related to the Sépia block. The amount already includes the amount of the gross-up of taxes related to TotalEnergies' 28 %, Petronas’21 % and QP... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, informs that its Board of Directors, in a meeting held today, in line with the continuous improvement of its governance, approved a Tax Policy (Policy) applicable to the company and its equity holdings. "The Policy reiterates Petrobras' commitment to ensure that tax management, which covers taxes and governmental holdings, is... Continue Reading →
Petro Rio S.A. ("Company" or "PRIO") (B3: PRIO3), following the Material Fact released on April 28, 2022, informs its shareholders and the market in general that, on this date, the payment regarding the acquisition of 90% interest and operation of the Albacora Leste Field ("Field" or "Albacora Leste") with Petróleo Brasileiro S.A. ("Petrobras") was made.... Continue Reading →
(Reuters) - Argentina's government reached a $540 million deal with development bank CAF for the extension of natural gas pipelines and related infrastructure linked to the country's Vaca Muerta basin, Economy Minister Sergio Massa announced on Wednesday. The infrastructure plan, expected to be approved in March, aims to boost a pair of gas pipeline projects... Continue Reading →
Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana. Western sanctions against major energy producer Russia and the decision of producer group OPEC+ to cut output by 2 million barrels per day pushed up Brent crude prices by... Continue Reading →
(Reuters) - West Africa-focused oil producer Tullow (TLW.L) sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow... Continue Reading →
Brazil Energy Insight 