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Petróleo Brasileiro S.A. – Petrobras informs that it has entered into, together with its subsidiary Petrobras Gás S.A. ("Gaspetro"), an instrument of transaction to put an end of a pending legal dispute with Termogás S.A. ("Termogás"). This instrument allows Termogás to acquire shares of Companhia Maranhense de Gás ("Gasmar") held by Gaspetro, which corresponds to... 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 $85 billion fall in revenue last year, but its profits were boosted as trading plays offset the impact of the COVID-19 pandemic on oil demand and prices. Many traders benefited in 2020 from extreme oil price volatility and storage opportunities. In April last year, U.S. light sweet... Continue Reading →
Companies interested in joining Routes 1, 2 and 3, pre-salt gas pipelines responsible for connecting the largest pre salt fields in the cluster off the coast of São Paulo and Rio de Janeiro, should remain on hold. Petrobras abandons IPO strategy due to simpler modeling, but operation may still be postponed to 2022. Source: PetroleoHoje
Petróleo Brasileiro S.A – Petrobras informs that as of May 1, 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which link the price to... Continue Reading →
The company estimates to disburse resources in exploration, development and production in the order of U$ 40 million in 2021 and U$ 105 million for 2022. The projection has a variation margin of 20% negative or positive. Of the total set aside for this year, US$ 19 million will go to the Atlanta field, including... Continue Reading →
Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. "Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for... Continue Reading →
(Reuters) - Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on November 17, 2020, informs the beginning of the binding phase regarding the sale of all of its stakes in the Albacora and Albacora Leste concessions, located predominantly in deep waters in the Campos Basin. Potential buyers qualified for this phase will receive a... Continue Reading →
(Reuters) - Mexico is looking to renegotiate some of its hundreds of millions of dollars-worth of contracts with Vitol SA after the global energy trader acknowledged paying kickbacks to win business with state oil company Pemex, Reuters has learned. The dispute in Mexico, the world’s fourth-largest importer of refined oil products, is part of the... Continue Reading →
Brazil Energy Insight 