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May 19, 2023 - Petróleo Brasileiro S.A - Petrobras informs that it answered, on today's date, to the requests contained in Official Letter nr. 386/2023/GM-MME, from the Ministry of Mines and Energy ("MME"), in the terms below: Regarding the denial by IBAMA of the environmental licensing process for Block FZA-M-59 in Amapá Águas Profundas, Petrobras... Continue Reading →
(epbr) The Federal Audit Court (TCU) informed that it found no evidence of irregularities in the sale by Petrobras of the Shale Industrialization Unit (SIX) and of the Northeast Lubricants and Derivatives Refinery (Lubnor). Monitoring also included divestments from the Phil Project – Phase 2, which include the Gabriel Passos Refinery (Regap) and the Isaac... Continue Reading →
A Guyanese court recently ruled that ExxonMobil failed to provide adequate insurance for the costs of recovering from a potentially catastrophic oil spill from its first oil development project located off the coast of Guyana. According to High Court Justice, Sandil Kissoon, ExxonMobil “engaged in a disingenuous attempt” to dodge the full responsibility under its environmental permit for the Liza Phase I... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that the National Petroleum Agency (ANP) approved, on April 14, 2023, a proposal for an agreement between the ANP and Petrobras for the termination of the lawsuit and all pending issues involving the updating of the physical-chemical characteristics of the Jubarte Current and its impact on the recalculation of... Continue Reading →
(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →
(Reuters) - General Electric Co (GE.N) has settled all its outstanding wind turbine technology patent disputes in the United States and Europe with Siemens Gamesa Renewable Energy S.A (GAM.HA), the companies said on Friday. Terms of the settlement, which was described as amicable, were not disclosed. Under the deal, the companies and their subsidiaries will receive cross licenses... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors has considered, on today's date, the content of Official Letter 166/2023/GM-MME, of 02/28/2023, and of Official Letter 257/2023/GM-MME, of 03/29/2023, and considering its attributions, concluded that the review of the investment and divestment processes must be carried out based on the Company's "Strategic Plan",... Continue Reading →
(OP) Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry. According to the government, the new tax will serve to attract more investments in the country... Continue Reading →
(Reuters) - Mexican state oil company Pemex and a consortium led by U.S. firm Talos Energy (TALO.N) delivered a development plan for the Zama oil field to Mexico's oil regulator on Thursday, Pemex said. The plan includes two offshore platforms and the drilling of 46 wells, as well as the transportation of oil and gas to the... Continue Reading →
(Reuters) - Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters. Swiss energy traders have posted record returns over the last few years as they thrived in extremely volatile markets brought on by... Continue Reading →
Brazil Energy Insight 