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(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 →
French energy giant TotalEnergies and its partners have made a final investment decision on an $850 million project offshore Angola as part of their plans to further develop the CLOV complex located in Block 17. Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) and TotalEnergies announced the decision for the CLOV Phase 3 development last Friday,... Continue Reading →
(Reuters) - Ecuador's state-run oil company Petroecuador on Thursday launched an auction for private companies to bid for a flagship offshore natural gas field, aiming at increasing the Andean country's production. Petrocuador is looking for a partner for exploring and developing the Amistad natural gas field, at the nation's Guayaquil Gulf, currently producing 24 million... Continue Reading →
(Reuters) - The International Monetary Fund (IMF) said Wednesday it had reached a staff-level agreement on an updated macroeconomic framework with Argentine authorities, allowing the country access to about $4.03 billion. The IMF said in a statement that the country had met all quantitative targets in the first quarter and that annual objectives remained unchanged,... Continue Reading →
(Reuters) Portugal wants to speed up its energy transition and will double the capacity of its first auction for floating offshore wind farms to 6-8 gigawatts (GW), Environment Minister Duarte Cordeiro said on Wednesday. As part of a global shift from carbon-emitting fossil fuels, countries are betting on new technologies to boost power generation from... Continue Reading →
Rio de Janeiro, June 07, 2022 - Petróleo Brasileiro S.A. – Petrobras, regarding the news published in the media about the Investment Partnership Program of the Presidency of the Republic (PPI), informs that, today, Resolution CPPI no. 240/2022 was published in the Official Federal Gazette, through which the PPI Council opined favorably to the inclusion... Continue Reading →
(Y!F) With billions of people staying at home and the global economy shrinking, oil demand dropped significantly amid the coronavirus pandemic. Oil markets had been in turmoil and producers throughout the world encountered more challenges than ever. However, two years after the pandemic-driven epic oil price crash, optimism is back in the sector, with the... Continue Reading →
Amid successive changes of command, Petrobras will need to ask CADE (Administrative Council for Economic Defense) for more time to sell the refineries it needs to make available to the market because of an agreement signed with the antitrust body in 2019. More than two years after the agreement for the sale of the eight... Continue Reading →
