Oil Rises 2 Percent
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown, oil prices have risen more than 25 percent this year, supported by supply curbs by the Organization of the Petroleum Exporting Countries plus allies, and losses due to U.S. sanctions on Iran and Venezuela.Venezuela's main oil export port of Jose and its four crude upgraders have been unable to resume operations following a massive power blackout on Monday…
A 'Chicago Boy' Takes the Reins at Petrobras
Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone.Tapped by far-right President Jair Bolsonaro, who took power on Tuesday, Castello Branco had said in a June newspaper column he thought Petrobras - as the company is known - should be privatized, a hardcore proposal even in an administration packed with free market advocates.He has walked back on that idea since being named as CEO in November…
Oil Workers Strike at Petrobras
The FUP oil workers union in Brazil said on Wednesday that workers joined the call for a nationwide strike on at least 20 oil rigs in lucrative Campos basin, along with several other areas around the country.The 72-hour strike was called to protest the fuel pricing policies of Petroleo Brasileiro SA and to demand the resignation of chief executive Pedro Parente. The state-led firm said in a statement that there were no production losses so far. It said contingency crews took over operations at these units, keeping output stable.Reporting by Marta Nogueira; Writing by Marcelo Teixeira
Pemex Seeks Refinery Investors, but Who's Buying?
Sweeping energy reforms have turned Mexico into one of the world's most attractive offshore prospects, but one segment is getting no love from U.S. investors: the nation's aging refineries. Efforts by Mexico's state-owned oil company Pemex to attract about $5 billion in capital to help modernize its two largest refineries so far have proved futile, according to two people familiar with the process who declined to be named because they were not authorized to speak publicly. The company is seeking a joint venture partner for its Salina Cruz refinery on the West Coast.
Petrobras Resorts to Top Court to Free Divestment Plan
Brazil's state-run oil company Petrobras has asked the Supreme Court to lift an injunction obtained by an oil workers' union that froze sales of its assets, including its fuels distribution unit, a court official said on Friday. Petrobras filed the request on Thursday in a bid to lift the injunction that blocked a divestment plan crucial to the full recovery of the company's finances by lowering its debt load. A regional oil workers' union told Reuters on Thursday that an injunction continues to prevent sales of Petrobras assets despite an audit court ruling allowing sales to go ahead.
Strike at CNR's Ivory Coast oil and gas fields extended
Workers have extended a strike indefinitely at Canadian Natural Resources' (CNR) Baobab and Espoir oil and gas fields in Ivory Coast, the SISPOO oil workers union said on Saturday. A 72-hour strike was called early on Wednesday over the firing of workers and was extended on Friday after the parties failed to reach an agreement. "As no solution is in sight, we hereby announce the extension of the strike until the conflict is resolved," SISPOO said in a letter to CNR on Friday. The union told Reuters on Wednesday that no gas was coming from any of CNR's platforms…
Oil Workers Accepts Petrobras Wage Deal
The Brazilian oil workers' union has accepted a proposal from state-controlled Petrobras for a collective wage deal, the union said in a statement on its website on Thursday. According to the statement, the union's managing board recommends workers approve the company's offer. Reporting by Gustavo Bonato
Fire at Rio Petrobras Refinery Impacts Productions
Fire was reported on Wednesday at the Reduc refinery in the state of Rio de Janeiro controlled by Brazil's state-run oil firm Petrobras, with impact on production, a local oil workers union said. Flames had reached one of the three distillation units at Reduc, located in Duque de Caxias, in Rio's metropolitan area, the union said. There were no reports of injuries or immediate comments from Petrobras. Reporting by Marta Nogueira
Nigerian Oil Workers Union Begins Strike
Strike to last 3 days, involve 3,000 workers; talks planned with labour minister. A Nigerian oil labour union has begun a nationwide strike hitting petrol stations and oil tankers, while oil industry workers have shut down seven crude flow stations in the Niger Delta, a union official said on Wednesday. The strike is in protest over pay and job losses. The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) is one of several labour unions that have criticised oil companies for sacking workers in the last few months.
Petrobras Employees in Campos Basin to Strike
Employees at Brazilian state-controlled oil company Petroleo Brasileiro SA working at Campos Basin, the largest oil-producing area in the country, approved a strike to begin Friday, an oil workers union said. The Campos Basin produces around 60 percent of Brazilian oil. The employees rejected a proposal by Petrobras, as the company is known, of a 6 percent rise in wages. The union questions proposed changes to its contracts that would allow Petrobras to reduce the number of hours worked. Petrobras did not respond immediately to a request for comment. Reporting by Marta Nogueira
Gabon Strike Cuts Onal Field Output
A strike in Gabon by oil workers at French company Maurel and Prom has cut production from the Onal field to 10,000 barrels per day from 28,000 bpd normally, according to a statement from the oil ministry late on Wednesday. The strike, which started on Monday and began affecting oil production on Tuesday, was related to staff being laid off for missing work during a period of unrest after the presidential election, the Gabon oil workers union ONEP said in a statement. "On Monday at 3 a.m., certain workers began a strike...despite negotiations that were underway," the oil ministry statement said.
Brazil oil workers reject Petrobras wage offer; strike is possible
Brazil's largest oil workers union strongly rejected on Friday a proposal from Petrobras for a deal over salaries and benefits in their annual talks, increasing the risk of a new strike at the state-led oil company. Leaders of the Federação Única dos Petroleiros (FUP) union said the terms broke agreements made in November to end a 20-day strike that was the company's longest in 20 years. According to Brazilian labor laws, workers have the right to renegotiate pay and benefits every year on specific dates. Workers usually…
Statoil Affirms 2017 Castberg Field Plan
Statoil says a final development plan for Johan Castberg to be submitted in 2017, according to schedule.
Colombia's Largest Oil Union to Vote on Possible Strike
Members of Colombia's largest oil workers union will vote on whether to strike in protest of privatizations at state-run oil company Ecopetrol, the union's president said on Tuesday. Most of the 21,000 members of the Workers Union for the Petroleum Industry (USO) work at Ecopetrol, which has sold several major non-oil related assets in an effort to refocus its operations after the slump in crude prices. Ecopetrol's net profit tumbled nearly 48 percent in the second quarter, the company said last month, because of a fall in sales and output.
Pemex Grants 3 pct Pay Rise for Oil Workers
Mexico's state-owned oil company Pemex has signed a one-year agreement with the country's oil workers union that boosts pay by 3.17 percent, the firm said on Wednesday. The pay hike will take effect on August 1, the company said in a post on its Twitter account. Pemex was not immediately available for further comment. In February, Pemex announced that it would cut its 2016 budget by nearly $6 billion as a consequence of two years of slumping crude prices. The company has also sought to trim its payroll through attrition. Pemex employs about 140,000 workers, most of which are members of the union.
Petrobras Probes HR Practices, Paper Says
Brazil's state-run oil producer Petroleo Brasileiro SA is investigating practices in its human resources department that could have left the company vulnerable to billions of reais in liabilities, newspaper Valor Economico said on Monday. Petrobras' head of governance, João Elek, is leading the internal probe after an anonymous report of 11 potentially controversial measures taken by its HR department in recent years, which could have included special treatment to union members at top management levels, Valor said. Petrobras representatives did not immediately respond to Reuters emails requesting comments.
Venezuela's Paraguana Complex Operating at 560,000 bpd
Venezuela's massive 955,000-barrel-per-day (bpd) Paraguana refinery complex was operating at around 560,000 bpd, an oil workers' union leader and fierce critic of state oil company PDVSA said on Thursday, citing an internal report. The roughly 645,000-bpd Amuay refinery is currently operating at around 310,000 bpd, while the adjacent 310,000-bpd Cardon refinery is at 250,000 bpd, union leader Ivan Freites said. PDVSA did not immediately respond to a request for comment. (Reporting by Mircely Guanipa)
Key Union Ends 20-day Strike at Brazil's Petrobras
A key workers union at Brazilian state-run oil company Petroleo Brasileiro SA voted on Friday to end a 20-day strike that disrupted output. Workers at the Sindipetro Norte Fluminense local, who had ignored the largest oil workers' union FUP's call to end the strike that started on Nov. 1, will return to work Friday evening at onshore operations, union spokesman Tezeu Bezerra. Other workers will start returning to the company's offshore platforms early on Saturday, Bezerra said. (Reporting by Alonso Soto)
Brazil Oil Workers' Union Proposes Ending Petrobras Strike
Leaders of Brazil's largest oil workers' union said on Friday they had proposed ending a 13-day strike at state-run oil firm Petroleo Brasileiro SA . In a Facebook message, the union said a historic strike had been necessary to preserve workers' rights. (Reporting by Gustavo Bonato and Caroline Stauffer)
Petrobras, Union Bicker over Back-Pay, Asset Sales
A union representing workers at state-run oil company Petroleo Brasileiro SA in Brazil's most important production area said on Monday it remains on strike over back pay and the state-owned oil company's plans for assets sales. Sindipetro Norte Fluminense workers operate oil platforms and other services in the Campos Basin, the source of 64 percent of Brazil's oil production and 34 percent of its natural gas output. SindipetroNF on Saturday rejected a call to end the two-week-old strike by FUP, the largest Brazilian oil workers union federation and one of the last strong power bases for embattled Brazilian president Dilma Rousseff.
