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(Reuters) Brazil's right-wing president Jair Bolsonaro fired the chief executive of oil producer Petrobras - the second in two months - after the company refused to sell fuels at a discount to consumers warning it would lead to diesel shortages. Bolsonaro also called for the election of a new board, according to a statement released close to midnight local... Continue Reading →
(Reuters) - BlackRock Inc (BLK.N), JPMorgan Chase & Co (JPM.N) and other top financial firms have told a Texas official they are not boycotting energy companies, responding to a request for information that could determine if they are able to continue to manage state funds. The money managers are under pressure from a new Texas law that prohibits... Continue Reading →
(Reuters) - Germany's Siemens Energy (ENR1n.DE) is mulling a bid to buy the third of Siemens Gamesa (SGREN.MC) it does not already own, the company said on Wednesday, hoping this will help it fix long-standing problems at the Spanish-listed wind turbine maker. Siemens Energy faces mounting shareholder pressure to seek control of Siemens Gamesa, in which it owns 67%,... Continue Reading →
(Reuters) - Brazil's newly appointed Mines and Energy Minister Adolfo Sachsida will face resistance at Petrobras (PETR4.SA) if he pushes to remove import costs from the state-run oil company's fuel price calculations, according to people familiar with the matter. Sachsida has supported the move as a way to ease pressure on consumer prices amid a surge in... Continue Reading →
(Reuters) U.S.-based oil producer Talos Energy has temporarily suspended pursuit of an arbitration claim against Mexico amid high-level talks over one of the country's flagship offshore projects, five people close to the matter said. The dispute erupted after Mexico selected state-run Petroleos Mexicanos (Pemex) as the operator of their shared 850-million-barrel Zama field ahead of Talos,... Continue Reading →
Australian oil and gas company Karoon Energy has started its intervention campaign on the Baúna field, located offshore Brazil, using a Maersk Drilling-owned semi-submersible rig. After this campaign, the rig is scheduled for work on two more fields for Karoon. Karoon reported on Monday that its contract with Maersk Drilling for the Baúna intervention campaign... Continue Reading →
(Reuters) Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras' profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country's October elections. In a speech during an event in Sao Paulo, Bolsonaro said that all the oil companies in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/20/2018, informs that it has decided to conclude the current competitive process, which was in the binding phase, for the partial sale of four concessions located in deep waters in the Sergipe-Alagoas Basin (BM- SEAL-4, 4-A, 10 and 11), without transferring the operation.... Continue Reading →
Shareholders of offshore drilling company Noble Corporation have approved the company's proposed plan to merge with the Danish offshore drilling firm Maersk Drilling. "...at the Extraordinary General Meeting of shareholders held today, shareholders approved all proposals related to the previously announced business combination agreement with [Maersk Drilling]," Noble Corp. said Tuesday. According to Noble Corp,... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) said it will activate a contingency financing plan to avoid investment being affected while it waits for the government to pay 14.1 trillion pesos ($3.45 billion) it owes to the company. The debt the government owes to Ecopetrol (ECO.CN) corresponds to The Fund for Stabilization of Fuel Prices (FEPC), which... Continue Reading →
Brazil Energy Insight 