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(Reuters) - Brent crude oil futures hit a fresh three-year high on Tuesday, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ group of producers decided to stick to its planned output rises rather pumping even more. OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until... Continue Reading →
(WO) --The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. Natural gas prices have already surged to almost double that level in oil equivalent terms, and BofA says a spike in demand for diesel... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) Chief Executive Officer Joaquim Silva e Luna said there was "zero" risk that the state-run Brazilian oil company would seek to artificially control fuel prices even amid growing public outrage over inflation. Petroleo Brasileiro, as the company is formally known, will have to raise gasoline and diesel prices in line with its international... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro said on Thursday that profits from state-run oil firm Petrobras (PETR4.SA) could be used to alleviate rising fuel prices in the country, among possibilities for confronting higher prices. Fuel prices have become a hot-button issue in Brazil as inflation soars. Recent CEOs of Petrobras have been forced out over price hikes.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras clarifies that, as disclosed on September 29, 2021, the allocation of R$ 300 million, over a period of 15 months, was approved for the creation of a social program to support families in situations of social vulnerability to contribute with access to essential inputs, with a focus on liquefied petroleum... Continue Reading →
The Brazilian Association of Petroleum Services Companies – ABESPetro, elected, at the Ordinary General Meeting, the new Board and Fiscal Council for 2022/2023. Rodrigo Ribeiro (Constellation) was elected the Chief Executive Officer. The new Board also includes Bruno Freitas (SBM Offshore), Lauro Puppim (Saipem), Luana Duffe (TechnipFMC), Marcos Villela (NOV) and Ricardo de Luca (Porto... Continue Reading →
(Reuters) - Soaring gas prices, staff shortages, a lack of ships -- price pressures globally may be picking up faster than anticipated, challenging the view that inflation will prove transitory. Central bankers, while adamant inflation will subside, are starting to concede it may stay higher for longer as a range of issues push up the... Continue Reading →
The U.S. Bureau of Ocean Energy Management (BOEM) will hold an oil and gas lease sale for the Gulf of Mexico on November 17, complying with a U.S. District Court order. To remind, the Biden administration had paused all oil and gas leasing activities on federal lands and waters in January, citing climate crisis. A federal judge... Continue Reading →
(Reuters) - Brent oil dipped on Tuesday after topping $80 per barrel for the first time in nearly three years, as a five-day rally ran out of steam with investors locking in profits. Oil benchmark prices have been on a tear, with fuel demand growing and traders expecting major oil-producing nations will decide to keep... Continue Reading →
(Reuters) - The rally in liquefied natural gas (LNG) prices has widened the gap with oil prices and could boost oil demand by 400,000 barrels a day (bpd) on average over the next two quarters, according to research by consultancy Rystad Energy. The average LNG price for November delivery into Northeast Asia was estimated at... Continue Reading →
Brazil Energy Insight 