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(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 →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/25/2021, concerning the sale process of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A., informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) published on 03/08/2022 a dispatch declaring the Act of Concentration to be complex and ordering the... Continue Reading →
(Reuters) - A second day of interministerial meetings in Brazil to discuss proposed fuel subsidies ended without a decision on Wednesday, four government sources said, as focus shifts to a Senate vote changing the calculation of state taxes for fuels. Earlier in the day, President Jair Bolsonaro met with his chief of staff, the energy... Continue Reading →
(PetroleoHoje) Açu Petróleo signed with Petrobras and Transpetro the first infrastructure sharing agreement for crude oil. Focused on the Osduc network (Cabiúnas-Reduc), the operation will enable the connection of the future line that will interconnect the Oil Terminal, in Porto do Açu, in São João da Barra (RJ), to the Cabiúnas Terminal, located in Macaé... Continue Reading →
The General Superintendence of the Administrative Council for Economic Defense (CADE) approved the sale of control of Gaspetro, currently with Petrobras, to Compass (Cosan group). “In summary, it is understood that the post-operation scenario is better for the competitive environment than the pre-operation scenario, given that –even if it transfers Gaspetro to a single economic... Continue Reading →
Norwegian shipping company Siem Offshore and offshore energy services provider Helix Energy Solutions Group have entered into an agreement for the well intervention vessels Siem Helix 1 and Siem Helix 2. With the new agreement, the total contract backlog for Siem Offshore is now $440 million. The agreement will replace the existing contracts and the... Continue Reading →
(Reuters) - A Brazilian Senate committee requested on Tuesday that Petrobras executives explain to it the state-run oil company's dividend policy, while top ministers met to determine the future of the company's fuel pricing policy. Petroleo Brasileiro SA, as the company is formally known, has been facing intense pressure to abandon its current method of... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro on Monday threw his weight behind measures to tamp down domestic fuel prices after the Ukraine conflict sent oil prices to their highest levels since 2008, adding to pressure on state-run oil company Petrobras. A government official told Reuters on condition of anonymity that the Bolsonaro administration is studying... Continue Reading →
(PetroleoHoje) TechnipFMC started the interconnection campaign of the first well of the Mero 1 system to the FPSO Guanabara. The company concluded the work of loading the first batch of rigid lines of the project on the launch vessel Deep Blue from the spoolbase in Porto do Açu, in São João da Barra (RJ), installed... Continue Reading →
(Reuters) - Petroleo Brasileiro SA executives this week will seek government approval to increase wholesale fuel prices at its Brazil refineries, two people close to the discussions told Reuters. Price increases are a sensitive issue in Brazil because of the nation's double-digit inflation rate, and because of elections in October in which President Jair Bolsonaro... Continue Reading →
Brazil Energy Insight 