Petrobras and Yara Sign Agreement for Diesel Exhaust Fluid Sales in Brazil
Petrobras, Brazil's state oil company, has signed agreements with ANSA and fertilizer firm Yara. Yara could sell AUS 32 diesel-exhaust fluid in Brazil. Brazil imports AUS32, or 32% solution of aqueous Urea, to reduce the emissions from diesel cars. ANSA will produce AUS 32 in its plant in Parana in the south of Brazil, which should be operational again in May. This is also another step in Petrobras's goal to enter the fertilizer industry.
Sources say that Chinese exporters will increase prices and renegotiate after the tax rebates are cut.
Analysts and traders said that Chinese exporters will increase prices on a variety of products, from used cooking oil to aluminium, and renegotiate their contracts to pass the cost of Beijing’s tax incentives. On Friday, the world's second-largest economy announced that it would reduce its export tax rebate rates for certain refined oil products, solar panels, batteries, and non-metallic minerals from 13% down to 9%.
Report: Senior aide of Argentina's Milei claims Shell is eyeing LNG investment
According to the newspaper La Nacion, the cabinet chief of Argentine president Javier Milei cited Shell as a possible investor in a future liquefied gas (LNG), project that will be managed by YPF, Argentina's state-owned oil company. La Nacion reported that Guillermo Francos, the Cabinet Chief, said during an event the major energy company had shown "strong interest" for a possible LNG investment in the nation.
Mexico simplifies fiscal regime for Pemex, the state oil company
Mexico announced a plan on Wednesday to simplify the fiscal regime of state oil company Petroleos Mexicanos (Pemex), in an effort to boost a producer whose heavy loans have burdened state coffers. Claudia Sheinbaum, Mexican president, said during the morning press conference Pemex will pay a general tax of 30% on its non-associated gas operations. Sheinbaum explained that the measure was taken to increase "transparency"…
Colombian court reverses order to suspend gas well off Caribbean coast
On Wednesday, a Colombian court overturned a previous court order that was issued last month, which had suspended operations at Sirius-2 (formerly known as Uchuva-2), a major offshore gas well. The ruling was issued on October 29, following a complaint from Indigenous communities that their way of living would be negatively affected by the development of the well.
China's CNOOC signs contract for oil development in Iraq's Block 7
CNOOC Ltd, a Chinese company, announced Wednesday that it had signed an Exploration, Development & Production Contract with Iraq's State-run Midland Oil Company for the exploration of oil and gas in the Block 7 Field. CNOOC Africa Holding Ltd, the state oil and gas company's fully owned unit, will hold 100% interests and act as the operator for the 6,300-square-kilometer Block 7, located in central Iraq's Diwaniyah province.
The Colombian Ministry of Energy says nine companies are interested in the offshore wind project
The Colombian energy ministry announced on Tuesday that seven foreign companies and two local ones had expressed interest in a project to build offshore wind farms and expected to receive formal bids by the first half of 2025. According to the ministry, these companies include Colombian state oil company Ecopetrol, power firm Celsia and Spain's BlueFloat Energy.
Document shows that Mexico's Pemex plans to increase its gas and oil reserves under Sheinbaum's presidency.
According to a document that was seen by us on Wednesday, the Mexican state oil company Pemex wants to increase its hydrocarbon reserve and make sure it is repaid during the tenure of newly-elected President Claudia Sheinbaum. The document also shows that Pemex will intensify its deepwater exploration as well as develop new business models in order to attract investors.
Sinopec reports east China's shale field pumps 1,600 tons of oil per day
Sinopec, the state oil group, announced on Wednesday that it is progressing with the development of shale oils at its Jiyang pilot project in east China. The company now pumps 1,600 tons per day, up from just 100 tons in 2020. Sinopec, at this rate, is on course to meet a 2022 target of producing 500,000 tons per year by 2025 in Jiyang. Jiyang is located mainly in Shandong Province and covers 7,300 square kilometers (1.8 million acres).
Sources: At least 18 injured by fire at Venezuelan La Salina oil terminal
Sources familiar with the operations of Venezuela's La Salina Oil Terminal said that at least 18 people, including workers, neighbours and firefighters, were reported injured by a fire in a crude oil storage tank. The fire started early on in the morning during a thunderstorm and raged through the afternoon. The facility is near Cabimas, a western city on the shores of Lake Maracaibo, and is operated by the state oil company PDVSA.
Three workers sue Pemex in Texas for injuries
On Monday, three workers filed a lawsuit against Mexico's state oil company Pemex in Houston. They claim to have been injured in a release of hydrogen sulfide at a refinery in Deer Park in Texas on Thursday. According to officials, two contractors died and 35 others were treated on Thursday for exposure to deadly hydrogen-sulfide. According to the lawsuit, Sergio Antonio Olvera and Jonathan Martinez…
Elliott group seeks to buy Citgo Petroleum from Exxon director
Gregory Goff, Exxon Mobil's board director, recently joined a newly-formed company backed by Elliott Investment Management that is seeking to take control of Venezuelan oil refiner Citgo Petroleum. Citgo and Exxon compete in the motor-fuels and lubricants business. Exxon, the third largest U.S. refiner of oil by capacity, and Citgo are the seventh largest. Goff…
Elliott group seeks to buy Citgo Petroleum from Exxon director
Gregory Goff, Exxon Mobil's board director, recently joined a newly-formed company backed by Elliott Investment Management that is seeking to take control of Venezuelan oil refiner Citgo Petroleum. Citgo and Exxon compete in the motor-fuels and lubricants business. Exxon, the third largest U.S. refiner of oil by capacity, and Citgo are the seventh largest. Goff…
Sources say that the distillation and catalytic cracker units at Venezuela's Amuay Refinery have resumed operations.
Five sources said this week that a catalytic cracker, and two distillation machines, at Venezuela's Amuay Refinery, the largest in the country, had resumed operation following an interruption of power earlier this month. Sources claim that a blackout occurred on September 12 which knocked the catalytic cracker of the refinery, which produces the finished fuel, offline. The distillation units were also halted.
Rural towns in New Mexico's arid region are looking to treated oil wastewater for a drought solution.
Stephen Aldridge, a pilot of a four-seater helicopter, could see a dozen lagoons filled with toxic waste glistening in the distance between drill rigs. The mayor of Jal, a tiny town nestled in the middle of U.S. Oil Country near the Texas border, saw the scene as a chance to find water for the state that is suffering from a worsening drought. Aldridge belongs…
Colombia's Ecopetrol claims that operations have been affected by roadblockades and pipeline attacks
Ecopetrol, Colombia's state oil company, said that its operations were affected by the attacks on Cano Limon - Covenas and Bicentenario and a nationwide strike of truckers which has caused transport to be snarled. The company said in a press release that the production of hydrocarbons may be affected in the next few days, and this could affect fuel supply. The protests by truckers…
After historic oil vote, little progress in Ecuador's Amazon
In the Amazon, on August 20, 2023, almost 60% of the population voted to keep crude oil in the ground. Environmentalists and Indigenous Communities hailed the referendum as a historic victory for protecting one of the most biodiverse areas of the planet and a rare instance of the shift away from fossil fuel based economies. The Amazon rainforest is vital in slowing climate change because it absorbs huge amounts of carbon dioxide.
Nigeria's Dangote Refinery and others are seeking 597,700 barrels per day of oil in the face of tight supply
The Nigerian oil regulator announced that despite a tight supply, Nigerian refineries, including the Dangote refinery, have increased their domestic crude needs for the second half 2024 from 483,000 barrels per day in the first. In a Friday statement, the Nigerian Upstream Petroleum Regulatory Commission said that it was only able secure 177.777 bpd of oil from producers, which is far below the amount the refiners requested.
Sources say that the incoming Mexican government wants to open Pemex up to oil partnerships.
According to four sources with knowledge of the situation, the incoming Mexican government will encourage the state oil company Pemex, to form equity partnerships with private oil firms, a model that is not popular with the president. This move is to increase reserves in the face of a massive debt. These partnerships will be similar to previous Pemex joint-ventures with private oil companies…
Sources say that Petrobras has obtained environmental licenses for Brazil's oil production to increase.
Three people familiar with the matter said that Brazil's state oil company Petrobras obtained environmental permits to expand production at two offshore fields and one vessel could start earlier than expected. Petrobras can now increase production at the Mero and Buzios oil fields. Buzios will benefit from the early launch of the FPSO vessel Almirante Tamandare (floating production, storage and offloading).
