Brazil's Petrobras could include Colombia gas project into 2027-2031 plan.
Petrobras, Brazil's state oil company, may include the Sirius offshore gas project in Colombia as part of its production curve that will be revealed later this year in the 2027-2031 Business Plan. She said that Petrobras had'made progress towards obtaining the licence…
Brazil environmental agency clears Petrobras to drill additional Foz do Amazonas wells
According to a document seen by us on Friday, Brazil's Ibama environmental agency authorized the state-owned oil company Petrobras drill three new deep wells in the Foz do Amazonas basin. Petrobras has made a recent oil discovery in an environmentally sensitive region off the coast of Brazil.
Petrobras begins negotiations to acquire four offshore blocks within Ghana's Keta Basin
Petrobras, the state-run oil company of Brazil, announced on Friday that it had submitted a?expression?of?interest?for exploration blocks in Ghana and started negotiations. Petrobras reported that the Ministry of Energy and Green Transition of West Africa had…
Brazil's Petrobras finds hydrocarbons in Foz do Amazonas basin
Petrobras, Brazil's state-run oil firm, announced on Friday that it had found hydrocarbons in an exploratory well located off the coast of the Atlantic Ocean near the Foz do Amazonas Basin. In a filing with the Securities and Exchange Commission, the company…
Bolivia: Petrobras could return to oil production and help YPFB restructure
Energy Minister Marcelo Blanco announced on Thursday that Bolivia would begin technical discussions next week with Brazil’s state-owned oil?firm Petrobras about its possible return to exploration?and production in the country. The company is also willing help restructure the state?energy?firm YPFB.
Oil Prices Fall As US-Iran Talks Appear to Go Well
Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.Brent futures were down 95 cents, or 1.30%, to $72.00 a barrel at 0119 GMT. U.S. West Texas Intermediate crude was down 54 cents…
Petrobras will resume construction at Tres Lagoas Fertilizer Plant by September
Petrobras, the state-owned 'oil' company in Brazil, plans to restart construction of a fertilizer plant in Mato Grosso do Sul by September. This is part of an effort to reduce 'the country's dependency on imports', said William 'Franca on Thursday. The construction of Tres Lagoas' UFN-III Fertilizer Plant…
Petrobras, Brazil's largest oil company, looks to Mexico for opportunities through a partnership with Pemex
Magda Chambriard, CEO of Brazil's Petrobras, said that the company would?send representatives" to Mexico in order to explore business opportunities. The firm is looking to a possible?partnership? with another state-run oil?firm called?Pemex. Chambriard, who is a representative of the Brazilian firm…
Norway Wealth Fund fails to meet its climate goals, according to NGO
A report from an environmental NGO on Tuesday said that Norway's $2.2 billion sovereign wealth fund is not engaging in climate change with the companies it invests in, despite its stated intentions to do so. The fund will aim to have all the companies in which…
Petrobras increases prices for Brazilian natural gas distributors by around 20% in May
The executive director of the industry group Abegas stated that Brazil's state-run petroleum company Petrobras could raise prices for natural gas sold to distribution companies by up to 20% in May, due to an increase in global oil prices. Petrobras adjusts natural gas prices every quarter, based on Brent oil.
Energy prices spiked ahead of the election, threatening Brazil's free gas for cooking program
Fuel?distributors and resellers?and analysts?warned, six months before a presidential elections?that rising energy prices could?scupper?a popular Brazilian program?that?provides?free cooking gas?to around 50 million people?. As he prepared to run for re-election in October…
Energy prices spiked ahead of the election, threatening Brazil's free gas for cooking program
Fuel distributors and resellers warned that rising energy prices could end a popular Brazilian cooking gas program, which provides free gas to around 50 million people. This warning comes six months before a presidential election. As he prepared to run for re-election in October…
Inpasa, a corn ethanol producer, opens a new plant in Brazil
Inpasa, a corn ethanol producer in Brazil's Bahia State, announced?that it had started operating at its new facility. It aims to produce 470 million liters of biofuel per year. In an interview, Gustavo Mariano said that the plant was now operational and the company would have a supply within a few days.
Head of Brazil's Petrobras will visit Mexico to discuss partnership between Pemex and Petrobras
According to Mexican President Claudia Sheinbaum, the head of Brazil's?oil firm Petrobras will?visit Mexico next April to discuss an upcoming partnership with Mexico’s state-run oil company Pemex. Sheinbaum said during her morning press conference that she…
Brazil's oil regulator authorizes Petrobras to resume Foz do Amazonas drilling
A document obtained by?showed that Brazil's oil regulator ANP had?authorized the?state-run Petrobras on Wednesday to resume drilling operations in the environmentally sensitive Foz do Amazonas area. The drilling was halted by the?ANP in early December after…
TotalEnergies and Petrobras purchase land north of Namibia's massive Mopane discovery
Both TotalEnergies, the French oil giant, and Petrobras, the Brazilian firm acquired a 42.5% share in an offshore exploration license. The firms are looking to "develop" oil in one of last frontiers in exploration. Total has expanded its holdings in South Africa…
Namibia's Energy Ministry blasts TotalEnergies and Petrobras for failing to follow procedure
Namibia expressed concern that TotalEnergies and Petrobras acquired new offshore positions within the Luderitz basin without notifying the energy ministry and/or obtaining the necessary approval. Both French and Brazilian oil companies, TotalEnergies & Petrobras…
Namibia Flags Approval Need for TotalEnergies, Petrobras Offshore Stakes
Government officials stated on Sunday that Namibia would not recognize the purchase of offshore stakes by TotalEnergies or Petrobras announced last week until the oil companies followed the proper approval route.A spokesperson for the Presidency, Jonas Mbambo…
Brazil's Petrobras reports a near $3 billion net income and plans a $1.5 billion dividend
In separate filings, the Brazilian state-run oil company?Petrobras announced a fourth-quarter net profit of?15.6?billion dollars ($2.96 billion). It plans to distribute interest on equity in the amount of 8.1 billion dollars. The quarter-end net profit reversed…
Brazil's sugar mills will reduce production and switch to ethanol due to the energy price spike
Analysts said that the sharp rise in energy prices due to the ongoing 'war' in the Middle East will cause Brazilian sugarcane processors?to produce more ethanol than sugar during the new upcoming?season. The ICE exchange's raw sugar futures jumped over 3% Monday…