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Petróleo Brasileiro S.A. – Petrobras, in relation to the video published in the media about the reserve for profit distribution, clarifies that the information that there is a reserve of R$ 200 billion for distribution of profits by the company is not true. The amount of R$ 208.6 billion cited in Petrobras' Individual Financial Statements... Continue Reading →
(OM) Following constructive discussions with the government of Guyana, joint venture (JV) partners CGX Energy Inc. and Frontera Energy Corp. will focus exclusively on the exploration opportunities in the Corentyne Block offshore Guyana. The decision follows the discovery at the Kawa-1 exploration well on the Corentyne Block. CGX will continue to integrate its findings from the Kawa-1 well into... Continue Reading →
(Reuters) - The chief executive of Brazilian state-run oil company Petrobras resigned on Monday in the face of mounting pressure from politicians following a fuel price hike last week, with a high-ranking company insider quickly tapped to replace him on an interim basis. Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said in a... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq rate by 300 basis... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled another increase coming in the world's most aggressive rate-hiking cycle. The bank's rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%, the highest level since the beginning of 2017... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/25/2022, informs that the company Grepar Participações Ltda. (Grepar), which entered into an agreement with Petrobras for the sale of the Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) refinery and its associated logistics assets, sent a notification informing changes in its corporate... Continue Reading →
(OE) A new report from the International Energy Agency (IEA) estimates that if there was a concerted, global effort to eliminate unnecessary flaring and control leaks across the supply chain, there would be nearly 210 billion cubic meters (bcm) of natural gas could be made available to gas markets. Russia’s war with Ukraine has sent energy... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) will avoid raising fuel prices until after Congress finishes debating further tax cuts, two sources close to the matter told Reuters on Tuesday. The firm's management told the government on Monday that Brazil's diesel and gasoline prices are lagging behind international markets. Diesel prices, which the company increased in... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for May 2022 in the assets that the Company holds participation. (1) Macau Cluster production was impacted by a drop in energy supply during the... Continue Reading →
(RC) Brazil has made a surprise leap forward to take lead position among global offshore wind power project pipelines with almost 100GW in development, according to new calculus from research house the Renewables Consulting Group (RCG). According to RCG’s latest Global Offshore Wind Annual Market Report, the South American nation – which has yet to install... Continue Reading →
Brazil Energy Insight 