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(Reuters) - Brazil's far-right President Jair Bolsonaro on Tuesday avoided conceding defeat in his first public remarks since losing Sunday's election, saying protests since then were the fruit of "indignation and a sense of injustice" over the vote. His chief of staff, Ciro Nogueira, speaking after Bolsonaro's brief public address, said Bolsonaro had authorized him... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, over the last quarter, the devolution of about R$ 439 million, recovered through leniency agreements with Camargo Corrêa, Novonor S.A. (formerly known as Odebrecht S.A.) and SBM, as well as Pedro Barusco's collaboration agreement. With these devolutions, the total amount of funds transferred to Petrobras' coffers... Continue Reading →
Mexico's oil regulator approved on Monday a revamped plan for developing the once-abandoned Lakach deepwater natural gas project, presented by state oil company Pemex, in the first public session chaired by its newly appointed head. The Gulf of Mexico field holds up to 937 billion cubic feet of gas reserves. Rising costs have hindered development,... Continue Reading →
(Reuter) Income derived from hydrocarbon exploration and production in Colombia is key to the country's financial stability and its trade balance, its fiscal rule committee said on Monday, and suspension of exploration would put fiscal sustainability at risk. The government of new leftist President Gustavo Petro, who promised on the campaign trail to halt all... Continue Reading →
(Reuters) - BP (BP.L) more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in reporting bumper profits that have sparked renewed calls for energy companies to pay more taxes. London-based BP joins rivals including Shell (SHEL.L), Exxon Mobil and TotalEnergies (TTEF.PA) which also reported bumper profits last week... Continue Reading →
Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana. The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin... Continue Reading →
(Bloomberg) -- Investors are closely watching whom Brazilian President-elect Luiz Inacio Lula da Silva will pick to lead Petroleo Brasileiro SA to gauge how much its business strategy will change under the new, more left-wing administration. Lula, a former president who oversaw Petrobras’s expansion into the famed pre-salt region that now delivers about 70% of... Continue Reading →
(epbr) Petrobras to invest again is one of the main promises of Luiz Inácio Lula da Silva for his third term as President of the Republic. The government program states that the state-owned company must be an integrated energy company, focusing on the energy transition. -- For that, Petrobras would need to develop new projects... Continue Reading →
The U.S. Gulf of Mexico, best known to the offshore energy industry as an oil and gas province, is for the first time opening its doors to the offshore wind industry, with the U.S administration on Monday designating two areas for offshore wind development in the region. The U.S. Bureau of Ocean Energy Management (BOEM)... Continue Reading →
(Reuters) - Brazil's outgoing President Jair Bolsonaro had on Monday yet to concede defeat in the presidential election, raising fears the far-right nationalist might contest the victory of his leftist rival, former president Luiz Inacio Lula da Silva. Tens of thousands of jubilant supporters took to the streets of Sao Paulo on Sunday night to... Continue Reading →
Brazil Energy Insight 