Investing The transition team for Brazil’s President-elect Luiz Inacio Lula da Silva asked the current administration to halt ongoing asset sales by state-run oil giant Petrobras until a new Mines and Energy Minister is appointed, a member of the group said on Tuesday. The remarks by Professor Mauricio Tolmasquim, tapped last week to participate in the mining and energy
Nasdaq SAO PAULO, June 20 – The chief executive of Brazil’sstate-run oil company Petrobras PETR4.SAresigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week, adding to inflation concerns in an election year. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that Chief Executive
US News SAO PAULO – Brazil President Jair Bolsonaro’s government said it aims to include state oil company Petrobras in its privatization program on Thursday, despite analysts calling it a long-shot for the far-right leader seeking reelection. Rather than triggering privatization in itself, the move – not final until Bolsonaro signs a decree – would enable the country’s Investment Partnerships
Reuters U.S. government officials in March asked Brazil’s state-run oil company Petrobras whether it could increase crude output after Russia’s invasion of Ukraine sent global prices soaring, three people with knowledge of the matter told Reuters. They came away empty-handed, the sources said. Officials at Petrobras, formally Petroleo Brasileiro SA, said output levels were a function of business strategy rather than diplomacy and also
World Oil ApexBrasil, a Brazilian Trade and Investment Promotion Agency, is partnering with Brazil’s Energy Research Office (EPE), The Brazilian Petroleum and Gas Institute (IBP), The Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP), Petrobras, and the Federation of the Industries of Rio De Janeiro State (FIRJAN) to highlight the country’s burgeoning leadership in the sector at the Offshore Technology Conference (OTC)
Yahoo Finance HOUSTON – Exxon Mobil Corp has bet billions of dollars on offshore drilling in Brazil, an area it once abandoned and now sees as key to its future. But five years into its comeback, the U.S. oil giant has yet to make a major oil discovery as an operator in Brazil’s waters and has let opportunities to
Oil Now Guyana’s President Dr. Mohamed Irfaan Ali said on Monday the South American country along with Brazil and Suriname will explore the development of an energy corridor linking the oil producing nations. He said that Guyana is also committed to the wider goal of energy security for the countries of the northern cone of South America: Brazil, Suriname and
Oil Now South American oil giant, Brazil, and Guyana, the world’s hottest exploration hotspot with an incredible string of discoveries in the Stabroek Block, are poised to deepen their bilateral relations. Towards this end, Guyana’s President, Dr. Irfaan Ali held a teleconference on Monday with his counterpart President of the Federative Republic of Brazil, Jair Bolsonaro, to discuss his
Oil Now Brazil’s state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana. According to Petrobras reservoir executive manager Tiago Homem, the company plans to invest $2 billion in exploration at the Equatorial Margin through 2026.
Nasdaq SAO PAULO, Jan 7 – Brazilian state-run oil company Petrobras PETR4.SA said on Friday it expects to sell 100% of its preferred stake in petrochemical producer Braskem SA BRKM5.SA by February. The detailed timeframe came after Petrobras announced earlier in the day that the move was planned for the first quarter of 2022. Petroleo Brasileiro SA, as the company is formally known, also reiterated in a securities filing that the move will be
Nasdaq RIO DE JANEIRO – TotalEnergies SE, Royal Dutch Shell (LON:RDSa), Petrobras, Petronas and Qatar Energy scooped up two blockbuster offshore fields in Brazil on Friday, raking in 11.14 billion reais ($1.96 billion) in signing bonuses for the government. TotalEnergies, Qatar Energy and Malaysia’s Petronas won the right to develop the coveted Sepia field, while Brazil’s state-run Petrobras, formally Petroleo
Worldoil.com RIO DE JANEIRO (Bloomberg) –If an energy transition is underway around the world, it hasn’t reached the streets of Ilha da Conceicao, the working-class district at the heart of Rio de Janeiro’s oil revival. There, buses and trucks are piling into Baker Hughes Co.’s shipyard, where the energy services giant is churning out hundreds of kilometers of oil and
