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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 →
(Reuters) - Brazil's central bank weighed accelerating the world's most aggressive monetary tightening, minutes from its last policy meeting showed on Tuesday, but uncertainty about a post-pandemic rebound led it to stay the course on 100-basis-point rate hikes. The minutes of the Sep. 21-22 meeting, when the bank raised its Selic policy rate to 6.25%,... Continue Reading →
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally. Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT, after reaching their highest level since October 2018 at $80.75.... Continue Reading →
(Reuters) - Oil prices rose for a fifth straight day on Monday with Brent at its highest since October 2018 and heading for $80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions. Brent crude was up 92 cents or 1.2% at $79.01 a barrel by... Continue Reading →
(Reuters) - Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China's first public sale of state crude reserves. Brent crude was up 222 cents, or 0.28%,... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world's most aggressive monetary tightening. The bank's rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate to 6.25% as forecast... Continue Reading →
Brazil Energy Insight 