Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - The transition team for Brazil's President-elect Luiz Inacio Lula da Silva sees no need for any emergency move at state-run oil company Petrobras (PETR4.SA), sources said on Monday, after a meeting between Lula's team and the firm's top management. The state-run oil company briefed Lula's transition team on fuel pricing policy, according to the... Continue Reading →
(Reuters) - BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonise. Low-carbon hydrogen already has a big fan-base and is forecast to play a major role in reducing greenhouse gas emissions from heavy industries and... Continue Reading →
Sweden-based Maha Energy has signed a binding term sheet regarding a business combination with DBO 2.0 S.A. (“DBO”) for a consideration of 36,775,410 new shares in Maha. According to Maha, DBO is a private upstream oil and gas company focusing on mature offshore fields in Brazil formed in 2017. The company says that DBO has... Continue Reading →
(Reuters) Brazil' state-controlled oil producer Petrobras on Wednesday disclosed a 15% increase in its five-year spending plan to $78 billion, with little change to the company's strategy of focusing on fossil fuel production. The last Petrobras business approved under President Jair Bolsonaro could be scrapped next year, as a newly elected government that takes office... Continue Reading →
(Reuters) - Brazil's government-elected transition team asked state-run oil company Petrobras' (PETR4.SA) Chief Executive, Caio Mario Paes de Andrade, to suspend the company's divestment plan so they have time to decide which asset sales would go ahead in the coming years, transition team member Mauricio Tolmasquim told Reuters on Monday. "It would be ideal to suspend everything... Continue Reading →
(Reuters) - The chief executive of Brazil's Braskem SA , Roberto Simoes, is set to leave the petrochemical producer on Jan. 1, 2023, three years after taking office, the company said on Monday. Controlling shareholder Novonor has tapped Roberto Bischoff as the firm's new CEO, Braskem added in a securities filing, noting that his nomination... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the news in the media about the Shareholder Remuneration Policy ("Policy"), approved by the Board of Directors in 2019 and improved in 2020 and 2021, clarifies that the payment of extraordinary dividends is provided for in the Policy. In addition, the Company does not take on debt to pay... Continue Reading →
(Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva may have to wait months to implement his plans for state-run oil company Petrobras, as the chief executive appointed by the current government aims to finish his term in April, people familiar with his plans said. Until then, CEO Caio Paes de Andrade, installed by President... Continue Reading →
(Reuters) - Brazil's incoming leftist government will not have an interventionist stance on state-run oil giant Petrobras (PETR4.SA), a member of the transition team for President-elect Luiz Inacio Lula da Silva said on Thursday. Senator Jean Paul Prates told reporters that the future administration had no intention of causing a "breakdown" of the company and that... Continue Reading →
(Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva begins interviews this week with candidates to run oil firm Petrobras, people familiar with the talks said, kicking off what may be a rocky few months for the state-controlled company. Lula, who takes office on Jan. 1, has already signaled plans for a dramatic overhaul of... Continue Reading →
Brazil Energy Insight 