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(OE) Africa needs harmonized oil legislation to avoid ruinous competition among its oil-producing nations as they vie for investors, Senegal's President Macky Sall told an oil conference on Thursday. Sall said that as some developed nations push for an end to investments in fossil fuels, particularly gas, African countries needed to attract partners who are financially and technically reliable with... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
Petróleo Brasileiro SA – Petrobras, informs that its Board of Directors approved the model for the sale of up to 100% of the preferred shares it holds in Braskem S.A. (Braskem), to be conducted through secondary public offering(s) of shares (follow-on), together with Novonor S.A. - In Judicial Recovery and NSP Investimentos S.A. - In... Continue Reading →
(Reuters) - Oil rose towards $75 on Thursday supported by record U.S. implied demand and falling crude stockpiles, even as the spread of the Omicron coronavirus variant threatens to put a brake on consumption globally. Crude and other risk assets such as equities also got a boost after the U.S. Federal Reserve gave an upbeat... Continue Reading →
Australia's competition regulator approved Woodside Petroleum's agreed $28 billion merger with BHP Group's petroleum arm on Thursday, saying it would not reduce competition in the domestic gas market. The Australian Competition and Consumer Commission (ACCC) said it found Woodside would continue to face competition from several suppliers after the deal that will create a global... Continue Reading →
(Reuters) - Oil prices fell for a third day straight on Wednesday on growing expectations that supply growth will outpace demand growth next year, even though the Omicron coronavirus variant is not seen curbing mobility as sharply as earlier COVID-19 variants. U.S. West Texas Intermediate (WTI) crude futures fell $1.05, or 1.5%, to $69.68 a... Continue Reading →
(Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) has raised prices at least once in the middle of the divestiture process of its largest refineries, frustrating some bidders and delaying the long awaited promise of breaking Petrobras' monopoly in refining, four sources with knowledge of the matter told Reuters. Bidders were surprised by what they describe as... Continue Reading →
Energy intelligence provider Wood Mackenzie, a Verisk business, believes that the oil and gas sector will continue to rebound in 2022, but the positive outlook will be tempered by concerns about its future. In its Global Upstream Outlook 2022, Wood Mackenzie points out the upstream industry must respond to the implications of the pledges made at COP26 and... Continue Reading →
(PetroNoticias) Petrobras can start the first operational tests to receive natural gas coming from the pre-salt at Gaslub, the former Comperj. The National Petroleum Agency (ANP) has already given the green light and authorized the start of these operations. After this phase, the tests of systems that will use natural gas to generate steam for... Continue Reading →
(OE) A surge in COVID-19 cases and the emergence of the Omicron variant will dent global demand for oil, the International Energy Agency (IEA) said on Tuesday, but the broader picture is one of increasing output set to top demand this month and soar next year. "The surge in new COVID-19 cases is expected to... Continue Reading →
