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(Reuters) - Brazilian prosecutors, who have recommended that environmental agency Ibama block drilling by state-run oil company Petrobras near the mouth of the Amazon river, has demanded that Ibama respond within three days, a document seen by Reuters shows. The federal prosecutors office (MPF), an independent agency, filed a July 22 notice that appeared on... Continue Reading →
(Reuters) - Brazilian chemical company Unigel is demanding compensation from state-run Petrobras (PETR4.SA), opens new tab for losses on two leased fertilizer plants, a legal letter seen by Reuters showed, marking another setback in negotiations to reopen the plants. The two plants, a key part of President Luiz Inacio Lula da Silva's plan to ease Brazil's dependency on imported fertilizer,... Continue Reading →
(Reuters) Exxon Mobil's legal bid to stop Chevron's proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess' prize subsidiary in Guyana, according to people knowledgeable about the argument. The two top U.S. oil producers are in an arbitration battle over the world's largest oil discovery... Continue Reading →
(TN) Bill (PL) No. 2,038/2023, which creates the legal framework for low-carbon hydrogen, was approved by the Chamber of Deputies. Now, the text goes to President Lula for sanction. The Bill provides for the National Low Carbon Emission Hydrogen Policy – coordinated by the Ministry of Mines and Energy (MME) – and establishes incentives to... Continue Reading →
(Reuters) - Oil producers Chevron Corp (CVX.N), opens new tab and Hess Corp (HES.N), opens new tab expect the U.S. Federal Trade Commission will review their proposed merger in the third quarter, the companies said in a statement on Thursday. Bloomberg News reported earlier on Thursday the FTC planned to delay its decision on whether to block Chevron's $53-billion... Continue Reading →
Petróleo Brasileiro S.A.- Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (”CADE”) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Refining, signed in 2019, through which new obligations were agreed involving the activities carried out... Continue Reading →
(OE) Norwegian seismic firms TGS and PGS have received approval from the UK Competition and Markets Authority, securing final regulatory approval for the creation of ‘premier’ energy data company. The approval for the merger from the UK Competition and Markets Authority (CMA) follows the one issued by the Norwegian counterpart in April 2024. The clearance... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity to the Material Fact disclosed on May 20, 2024, informs that the Administrative Council for Economic Defense (CADE) decided in favor of renegotiating the Term of Cessation Commitment (TCC) for Gas, signed on July 8, 2019 ("TCC Gas"), which was also approved today by the Company's Board of... Continue Reading →
Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil. Between 2019, when oil production began in the... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, in continuity with the Material Fact disclosed on November 28, 2023, informs that it formalized with the Administrative Council for Economic Defense (CADE), on May 17, 2024, proposals for amendments to the Terms of Cessation Commitment (TCCs) previously established. The aim of these amendments is to adapt the obligations originally... Continue Reading →
Brazil Energy Insight 