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Stolthaven Santos and the Pecém Industrial and Port Complex, a joint venture formed by the government of Ceará and the Port of Rotterdam, in the Netherlands, announced the signing of a memorandum of understanding (MoU) for the study of a new storage terminal in Porto do Pecém, Brazil. The terminal will focus on providing storage... Continue Reading →
There is a possibility of replacing Petrobras' chief executive, Brazil's President Jair Bolsonaro said on Wednesday, adding further pressure to the state-run oil company's pricing policy. In an interview with regional TV channel, Bolsonaro said the possibility of replacing Joaquim Silva e Luna as Petrobras CEO exists, although he added "everyone in the government can... Continue Reading →
PetroRio inaugurated a new power generation system at FPSO Bravo, which is installed in the Polvo and Tubarão Martelo fields, in the Campos Basin. The production of electricity at the unit will be made with natural gas produced at the complex, replacing diesel. The novelty promises to bring environmental gains, with reductions in the burning... Continue Reading →
(Reuters) - State-run Brazilian oil company Petrobras said on Tuesday the sale process for the control of a natural gas pipeline that connects Bolivia and southern Brazil is in a binding phase. EIG Global Energy Partners presented a binding proposal, which must be considered by Petrobras' management, and in case of approval will start the... Continue Reading →
(Reuters) - Petrobras Chief Executive Joaquim Silva e Luna said on Monday he will not leave the Brazilian state-run oil company despite facing criticism from President Jair Bolsonaro and others over a fuel price hike announced last week. Luna, a retired army general, compared Petroleo Brasileiro SA's effort to raise prices to a "battle." Luna... Continue Reading →
(Reuters) - A Nigerian court has stopped Shell Plc (SHEL.L) from selling any assets in Nigeria until a decision is reached on the company's appeal of a nearly $2 billion penalty for an alleged oil spill. A copy of the court ruling, which was seen by Reuters on Monday, was issued on March 11 and also ordered... Continue Reading →
(Offshore Energy) Oil and gas giants BP and Eni have signed an agreement to form a new 50/50 independent company in Angola through the combination of the two companies’ Angolan businesses. The new company will be named Azule Energy and it is expected to be Angola’s largest producer. The agreement follows the memorandum of understanding between the... Continue Reading →
(Reuters) - Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors... Continue Reading →
(OE) The UK on Thursday announced sanctions, including a full asset freeze and travel ban, against seven oligarchs including Russian oil company Rosneft's CEO Igor Sechin and Gazprom's CEO Alexey Miller, over the Russian invasion of Ukraine. The UK government said that in an effort to "to isolate Putin and those around him, these oligarchs... Continue Reading →
(Offshore Energy) The Curaçao-based international holding company, HAL Holding, has announced an intended all-cash voluntary public offer of €32.50 per ordinary share for all issued ordinary shares in the capital of Royal Boskalis Westminster N.V. HAL has been a shareholder of Boskalis since 1989 and currently holds 46.2 per cent of the issued Boskalis shares.... Continue Reading →
Brazil Energy Insight 