Local press reports that YPF plus 3 other energy groups in Argentina, Pan American Energy (Chinese), Tecpetrol (Techint) and Pluspetrol, have made offer for the purchase of the Petrobras assets in Argentina which include drilling rights, refineries and a chain of gas stations. Decision of proposal should be as soon as next week.

Brazil's state-run oil company Petrobras hopes to boost the crude processing capacity of its newest refinery 62 percent to as much as 120,000 barrels per day (bpd) in the second half of this year, the company's refining chief said Wednesday. Petroleo Brasileiro SA  plans to start testing higher processing levels at the Abreu e Lima,... Continue Reading →

Eight companies were invited to consider the purchase of up to 49% of Gaspetro, the distribution company that holds the natural gas assets of Petrobras, but the dispute should be between  Japan's Mitsui and China's Beijing Gas. It is still early to say, but Mitsui has been identified by the market as the most interested in these... Continue Reading →

India's Videocon Industries Ltd plans to invest $2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group's chief said, as part of its strategy to boost the business. Read More

State-controlled oil producer Petróleo Brasileiro SA could sell a stake in Brazil's Braskem SA and build provisions against tax debts nearing 40 billion reais ($12.7 billion) to reduce costs and make finances sustainable, Valor Econômico newspaper said on Monday. Read More

Brazil’s congress is likely to pass a landmark bill that could ease financial pressure on state-controlled oil company Petrobras by opening the country’s biggest offshore oil discoveries to greater foreign and private investment. See attached FT Article - petrobras offshore bill FT