President Donald Trump’s America First rhetoric is doing no favors for US ethanol producers, who are hoping to avoid a trade fight with fuel buyers in Brazil. (Bloomberg) — President Continue Reading
Only a year ago, the Brazilian state company Petrobras seemed a complete basket case, an exemplary case of how not to lead a company that is rich in both resources Continue Reading
Brazil is a major oil producing country, but in 2016 was still a net importer, though imports dropped significantly and they have been a slight exporter overall so far this Continue Reading
Guest Post by George Kaplan Brazil is a major oil producing country, but in 2016 was still a net importer, though imports dropped significantly and they have been a slight Continue Reading
The Wall Street Journal reported that Exxon is looking to jump into Brazil’s offshore sector, one of a few areas of exploration where there are still enormous volumes of known Continue Reading
Exxon Mobil Corp., the only big oil company without a major foothold in Brazil, is in talks to gain access to the country’s prized deep-water resources, according to people familiar Continue Reading
Brazil’s state-run oil company Petroleo Brasileiro SA Chief Executive Officer Pedro Parente talks during a news conference in Rio de Janeiro, Brazil, January 11, 2017. REUTERS/Nacho Doce U.S. oil company Continue Reading
Brazil is in the process of preparing two new floating production, storage and offloading vessels, or FPSOs, to start oil and natural gas production in the country’s record-setting subsalt frontier, Continue Reading
Brazil’s federal auditing court overturned a preliminary ruling Wednesday that had frozen asset sales by Petróleo Brasileiro SA since December, removing a major roadblock to the state-run oil company’s plan Continue Reading
China’s strong appetite for Brazilian crude has set off alarm bells among various producers in Oceania and the Middle East, prompting Australian and key Persian Gulf crude suppliers to slash Continue Reading
French energy company Total announced alongside its Brazilian counterpart, Petrobras, both sides were teaming up in a $2.25 billion joint venture agreement. “These new partnerships together with a reinforced technological Continue Reading
The Philadelphia Energy Solutions oil refinery owned by The Carlyle Group is seen at sunset in Philadelphia March 26, 2014. Picture taken March 26, 2014. U.S. East Coast refiners are Continue Reading
A man works at the Cidade Angra dos Reis offshore platform at the Lula oil field, about 300 km (186.4 miles) from the coast of Rio de Janeiro, February 16, Continue Reading
Brazil’s state-run oil company said it closed on the sale of a refinery on the Japanese island of Okinawa as its divestment streak continues. State-run Petroleo Brasileiro, known informally as Continue Reading
French energy company Total said it was building up its prospects in South America in a partnership that gives it access to some of Brazil’s biggest oil fields. In a Continue Reading
Brazil’s state-controlled oil company Petróleo Brasileiro SA said Friday it signed a $5 billion financing deal with the China Development Bank, the latest example of a troubled Latin American issuer Continue Reading
For the three titans of Latin American oil — Pemex, PDVSA and Petrobras — last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks Continue Reading
Oil major Shell is planning to continue investing heavily in Brazil as part of a bid to double its global deep water production by the early 2020s. Shell plans to Continue Reading
Brazilian state-controlled oil company Petróleo Brasileiro SA posted an unexpected third-quarter loss on Thursday after drastically reducing the value of oil fields and other assets amid a severe downsizing and Continue Reading
Brazilian state-run oil company Petróleo Brasileiro SA said Tuesday it has decided to reduce prices for gasoline and diesel, after more than a year of using its near-monopoly in the Continue Reading
The Brazilian government on Friday reported that its oil and gas production rose to record levels in September with a total oil equivalent of 3.36 million barrels per day (bpd). Continue Reading
The chances of success for any concerted effort to curb global oil supply are getting slimmer by the day, it seems. OPEC members are arguing among themselves who will need Continue Reading
Around the world, governments continue to loosen their hold on oil and gas reserves. Just look at a slew of developments this week. Such as Russia finalizing a privatization plan Continue Reading
International oil companies are reaching out to Brazil after it opened its most promising offshore region to increased competition, a move welcomed by Petrobras Chief Executive Officer Pedro Parente as Continue Reading
Brazil’s Congress votes to open up its pre-salt oil fields to foreign investors by scrapping Petrobras’ obligation to be the area’s sole operator. (Bloomberg) — Brazil’s Congress voted on Wednesday Continue Reading
Congress approves liberalization of huge pre-salt deposits State-run Petrobras no longer sole operator of offshore area Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to Continue Reading
China Inc. is looking to win a gold medal in deal making with a $13 billion takeover of a Brazilian electric company. State Grid Corp. of China, the world’s largest Continue Reading
The Brazilian government gave permission to Petrobras to suspend production at sixteen oil platforms as the troubled state-owned firm attempts to reduce costs. As reported in The Rio Times on Continue Reading
China Utlilties Chinese state energy companies are huge by international standards. Their government wants them to ex-pand overseas and they seem indifferent to conventional standards of profitability. This makes them Continue Reading
Brazil’s state-run oil firm Petróleo Brasileiro SA said Monday that it is putting nine small, shallow-water oil fields up for sale, part of a previously announced divestment plan meant to Continue Reading
The new chief executive of Petróleo Brasileiro SA PBR 6.43 % has vowed to return Brazil’s troubled state oil company to “greatness,” by shedding assets—and outdated ideologies—that no longer serve Continue Reading
Petrobras Office Brazil’s Senate voted to approve impeachment proceedings against President Dilma Rousseff, forcing her to step down in order to stand trial. Vice President Michel Temer will now succeed Continue Reading
Petrobras’ stock has been a disaster for investors for years. Even when virtually every other oil company on the planet was seeing their stock move higher, PBR still somehow managed Continue Reading
The Brazilian pre-salt bonanza has now officially begun, with Norway’s Statoil and partners announcing production of the first oil and gas from the offshore Gavea field in Brazil—part of the Continue Reading
Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm Continue Reading
President Dilma Rousseff lost a crucial impeachment vote in Brazil’s lower house on Sunday evening, making her removal ever more likely and deepening the country’s political crisis less than four Continue Reading
Brazil’s troubled state-run oil company Petróleo Brasileiro SA on Friday announced a beefed-up voluntary layoff program that could affect up to 12,000 jobs amid intense efforts to cut costs. Petrobras Continue Reading
Brazil’s troubled state-run oil company, Petróleo Brasileiro SA, reported its biggest quarterly loss ever Monday after lower oil prices and higher borrowing costs forced it to write off 49.75 billion Continue Reading
Royal Dutch Shell said Monday it started production from the third and final phase of operations in the deep waters off the coast of oil-rich Brazil. “The safe, early delivery Continue Reading
Brazil’s Petrobras will slash its five-year investment plan by about one-fifth next month as low oil prices, massive debt and fallout from a corruption scandal hobble its ability to fund Continue Reading
Legislation to open coveted offshore oil fields in Brazil to foreign players took a major step forward this week, but still faces fierce resistance from opponents who consider the measure Continue Reading
Petroleo Brasileiro SA, Brazil’s state-owned energy company, is scheduled to receive the first cargo of shale gas to be shipped from the U.S., according to a person familiar with the Continue Reading
Petrobras’s finances have come under intense strain since a multibillion-dollar bribery scandal emerged at the company in 2014. With about $104bn in net debt — the highest for any Continue Reading
Aldemir Bendine has been the company’s chief for 11 months. In Portuguese that stands for Tuesday, Wednesday, Thursday—the three days a week that Mr. Bendine typically shows up at the Continue Reading
At a Christmas breakfast with journalists, Aldemir Bendine, the chief executive of Petrobras, said Brazil’s state-controlled oil company was aiming to become “smaller” thanks to an array of planned asset Continue Reading
A key gauge of Brazil’s public finances, the primary fiscal deficit, ballooned in November to one of the worst levels since records began. In a stark illustration of the challenges Continue Reading
Brazil currently rated Baa3, lowest level of investment grade S&P had already cut the country’s rating to junk in September Brazil’s sovereign rating was put on review for a cut Continue Reading
Vantage Drilling Co. VTGDF -57.58 % , an offshore oil rig operator linked to the massive corruption scandal at Brazil’s state-run oil firm, filed for bankruptcy protection late Wednesday night Continue Reading
Brazil’s gross domestic product fell by a record 4.5 per cent year-on-year in the third quarter, confirming fears that Latin America’s largest country is on track for its worst recession Continue Reading
Mr. Ferreira had been on temporary leave from Petrobras since Sept. 14, Though he had only been at the company since an April shake-up, few had expected Mr. Ferreira to Continue Reading
