Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Shares in Brazilian petrochemical producer Braskem SA (BRKM5.SA) soared on Friday after state-run oil company Petrobras (PETR4.SA) confirmed it had decided alongside conglomerate Novonor to postpone the sale via a share offering of their stakes in the firm. Petrobras said it made the decision in response to inadequate demand and price conditions. Braskem also confirmed the cancellation... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Friday it produced a record 21.2 billion liters of S-10 diesel in 2021, up 10% from a year earlier, while sales - including imported volumes - jumped 34.7% to a record 25.8 billion liters. Petroleo Brasileiro SA, as the company is formally known, said in a statement... Continue Reading →
(Reuters) - Argentina has struck an agreement in principle with the International Monetary Fund over a new $44.5 billion standby deal, both sides said on Friday, a major breakthrough in tense talks to restructure loans the country cannot repay. The South American country has been locked in talks for over a year with the IMF... Continue Reading →
Norway-based Petroleum Geo-Services (PGS) has reported an almost $6 million decrease in segment revenues in 2021 compared to 2020 due to, as the company says, the overall seismic market being “weaker”. Segment revenues and other income reached $590 million in 2021, compared to $595.9 million in 2020, which included $38.8 million of Covid-19 related government grants.... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday reported a fourth quarter profit that missed Wall Street estimates despite sharply higher oil and gas prices. The first of the major oil companies to report quarterly results posted adjusted earnings of $5.1 billion, or $2.65 a share, on profits from pumping oil that soared about five times the pandemic-depressed... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 12/16/2021 and 01/17/2022, informs that, together with NSP Investimentos SA – In Judicial Recovery, communicated to Braskem SA the decision to cancel the public offering for secondary distribution of shares owned by them, which would have been held simultaneously in Brazil and abroad,... Continue Reading →
(Reuters) Peruvian prosecutors requested on Thursday that the president and three other executives of Spanish oil firm Repsol SA's local refinery be barred from leaving Peru for 18 months while a probe into an oil leak is under way. Repsol's La Pampilla refinery, Peru's largest, leaked thousands of barrels' worth of oil off Peru's central... Continue Reading →
(Reuters) - Argentina is facing deadlines for nearly $1.1 billion in debt repayments to the International Monetary Fund (IMF) by Tuesday amid uncertainty over whether the South American country will pay and tense talks to revamp around $40 billion in loans. The grains-producing country, which has been battling currency and debt crises for years, is... Continue Reading →
(Reuters) - Oil prices rose on Friday, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Brent crude futures were up 63 cents, or 0.7%, at $89.97 a barrel by 1013 GMT, having hit $91.04 on Thursday for their highest since October 2014. U.S. West Texas Intermediate (WTI) crude... Continue Reading →
(Reuters) - Finland's Wartsila (WRT1V.HE) posted on Friday a surge in orders and solid sales and profits, but its operating margin and proposed dividend disappointed, sending shares in the marine and energy equipment maker down more than 8%. Comparable operating margin rose to 9.9% from 8.4%, but missed the 10.5% estimate in a poll of analysts provided... Continue Reading →
