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(Reuters) Eni will continue to produce gas in Venezuela while engaging with the U.S. administration over a waiver to export oil from the Latin American country as payment for gas, the CEO of the Italian energy group said on Tuesday. Eni has been producing gas in Venezuela for the domestic market since 2022, but it... Continue Reading →
(Reuters) - Sweeping U.S. tariffs could prove relatively advantageous for Brazil, Latin America's largest economy, despite President Donald Trump's move to impose a 10% levy on its exports to the United States, economists said on Thursday. Local markets reacted positively to the highly anticipated announcement on Wednesday, with the Brazilian real strengthening past 5.60 per... Continue Reading →
(offshore-energy.biz) Norwegian FPSO operator BW Offshore has reached a settlement with Brazil’s Prio Comercializadora, previously known as Petro Rio O&G Exploração e Produção de Petróleo, over a dispute concerning a floating production, storage, and offloading (FPSO) vessel. As disclosed by the Norwegian player, the arbitration was agreed to be fully and finally settled before London’s... Continue Reading →
(Reuters) The global economy is bracing for renewed turbulence following U.S. President Donald Trump’s announcement on Wednesday of sweeping new tariffs, triggering fears of a global trade war and sparking immediate market and political reactions. According to the White House, the new measures include a 10% minimum tariff on most imported goods, with certain products... Continue Reading →
(Reuters) - Former Brazilian President Jair Bolsonaro will stand trial for allegedly conspiring to overthrow the government after he lost a 2022 election, the Supreme Court ruled on Wednesday, moving swiftly in a case that could reshape the political landscape. A five-judge panel decided unanimously to put Bolsonaro on trial. If found guilty in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media about Petrobras' “R$16 billion bidding process for offshore vessels”, clarifies that the company has provided the clarifications requested, due to a complaint. Following the clarifications provided by Petrobras, two technical units of the TCU - Brazilian General Accounting Office - issued pronouncements, on... Continue Reading →
(Reuters) - Chevron purchased about 4.99% of Hess Corp's common shares this year, the oil giant said in a regulatory filing on Monday. Chevron said the stock purchase reflects its continuing confidence in completing the pending acquisition of Hess. In October 2023, Chevron agreed to acquire Hess in an all-stock deal valued at $53 billion, gaining a stake in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following the disclosures dated March 31, 2017, and August 9, 2022, informs that its Board of Directors has approved the settlement agreement to resolve the lawsuit with EIG Energy Fund XIV, LP and others (EIG), The amount related to this contingency is provisioned in Petrobras' Financial Statements and has been... Continue Reading →
(Reuters) Guyana's Natural Resources ministry has ordered the country's tax agency to begin a dispute resolution with Exxon Mobil over the recovery of some $214 million in expenses registered by the U.S. oil major. Expenses reported by Exxon as part of its operations at the massive Stabroek offshore block are closely monitored because a consortium... Continue Reading →
(Reuters) - Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns and a... Continue Reading →
Brazil Energy Insight 