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Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on January 7, 2021, informs that today it has concluded the sale of the totality of its 49% interest in Eólica Mangue Seco 1 - Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 1) to V2I Energia S.A., invested by Vinci Energia... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved today the signing of the Agreement with the Federal Government, which establishes the stakes in each contract and the amount of compensation to Petrobras in the event of a bid for the Transfer of Rights´ surplus volumes in the fields of Sépia and... Continue Reading →
Shareholders of U.S. oil supermajor Chevron are set to vote on proposals aiming to require the oil company to reduce the environmental impact of its products and report on climate business risks. Chevron said in early March that it exceeded its 2023 upstream carbon intensity reduction targets three years ahead of schedule and announced lower... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras today announced the expiration and expiration date results of the previously announced cash tender offers by its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), with respect to any and all of PGF’s outstanding notes of the series set forth in the table below (the “Notes” and such offers, the “Offers”).The... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed, together with its indirect subsidiaries Breitener Tambaqui S.A. and Breitener Jaraqui S.A., a legal agreement for the receipt of amounts that they claim against Amazonas Energia S/A (debtor) and Centrais Elétricas Brasileiras S.A. - Eletrobras (jointly responsible). Also part of the agreement is the payment... Continue Reading →
(Reuters) - Royal Dutch Shell expects its fuel sales to fall or at best be broadly steady for the first quarter, the world’s biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels... Continue Reading →
(Reuters) - Global energy trader Vitol suffered an $85 billion fall in revenue last year, but its profits were boosted as trading plays offset the impact of the COVID-19 pandemic on oil demand and prices. Many traders benefited in 2020 from extreme oil price volatility and storage opportunities. In April last year, U.S. light sweet... Continue Reading →
XP analysts (NASDAQ: XP) reduced the maximum price estimate for the sale of six Petrobras refineries (SA: PETR4) by U$ 5.7 billion, when reviewing their calculations after the Landulpho Alves Refinery (Rlam), was sold for less than market expectations. In the new calculation, which considers some risks related to fuel prices for future refinery owners,... Continue Reading →
(Reuters) -Energy group BP said on Tuesday it expects to have hit its $35 billion net debt target in the first quarter of this year, sooner than expected and paving the way for it to deliver on its promise of buying back shares. “This is a result of earlier than anticipated delivery of disposal proceeds... Continue Reading →
Offshore drilling rig contractor Seadrill has asked creditors to write off more than 85% of its debts in exchange for a 99% stake in the reorganized company, a court filing showed. The Oslo-listed firm controlled by Norwegian-born billionaire John Fredriksen in February filed for Chapter 11 bankruptcy protection in the United States, the second time... Continue Reading →
Brazil Energy Insight 