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Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others. Oil fell in tandem with other financial markets on fears that... Continue Reading →
(Reuters) - Brazilian central bank chief Roberto Campos Neto said on Wednesday he was surprised by stubborn price pressures that had resulted in worse-than-expected inflation, while reaffirming the bank's aim to bring inflation down to its target range. The comments came amid growing market expectations that inflation next year could exceed the target of 3.5%,... Continue Reading →
The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude. U.S. President Joe Biden, facing low approval ratings amid rising inflation ahead of next... Continue Reading →
A ten-year tax credit worth up to $3 per kilogram of “clean hydrogen” was approved by the US House of Representatives on Friday as part of President Joe Biden’s Build Back Better Bill. The cleaner the hydrogen produced, the higher the tax credit received by producers — a move that could make green H2 derived from... Continue Reading →
(Reuters) - OPEC+ has produced less oil than its agreed output targets, drawing scrutiny from the United States and other major consumers which want more crude from the group. read more The International Energy Agency (IEA) said OPEC+ production was below its target in both September and October by more than 700,000 barrels per day (bpd)... Continue Reading →
Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance, a type of insurance, to cover emergency responses to accidents. Financial assurance is also used at times in some... Continue Reading →
Colombia will look to add 3 billion barrels of oil equivalent (boe) to its hydrocarbon reserves by 2040, Armando Zamora, president of the national hydrocarbons agency (ANH), said on Friday. The addition of these reserves will guarantee Colombia's energy self-sufficiency said Zamora, who spoke during the final day of a virtual forum hosted by the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it won the bidding for the leasing of the port facility for storage and handling of fuels, called STS08A in the Porto de Santos, held by the National Agency for Waterway Transportation (ANTAQ) this Friday (11/19), in São Paulo. The company offered R$558 million for the area and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras clarifies pieces of news published in the media about the increase in its Capex in the 2022-26 Strategic Plan. The Company informs that the values mentioned in the articles are close to the values of the studies assessed by the Executive Board. However, the Strategic Plan is still being analyzed... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has identified the presence of hydrocarbons in the Santos Basin pre-salt, in a pioneer well in the Aram block. Well 1-BRSA-1381-SPS (Curaçao) is located 240 km from the city of Santos-SP, at a water depth of 1,905 meters. The oil-bearing interval was verified through wireline logging and... Continue Reading →
Brazil Energy Insight 