South America – Page 13

Exclusive: U.S. asked Brazil’s Petrobras if it could raise oil output; it said no

May 10, 2022

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

Brazil showcases oil & gas, technology, opportunities for foreign investors during OTC

May 3, 2022

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)

War turns Argentina’s shale boom dream into gas-buying nightmare

March 28, 2022

World Oil (Bloomberg) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina’s domestic gas production sector has suffered from years of underinvestment that has left it unable to meet

Shell among companies chasing Ecuadorian oil after Russia sanctions

March 17, 2022

World Oil (Bloomberg) — U.S. refiners Valero Energy Corp and Marathon Petroleum Corp., along with Shell Plc’s trading unit Shell Western Supply and Trading, are rushing to secure Ecuadorian barrels after America banned imports of Russian crude. Ecuador’s state oil company EP Petroecuador held back-to-back meetings this week in Louisiana with several refiners and trading houses, according to Petroecuador’s oil

EXCLUSIVE Chevron set to trade Venezuelan oil if U.S. relaxes sanctions -sources

March 14, 2022

NBC News MIAMI — Senior U.S. officials secretly traveled to Venezuela over the weekend in a bid to unfreeze hostile relations with Vladimir Putin’s top ally in Latin America, a top oil exporter whose re-entry into U.S. energy markets could mitigate the fallout at the pump from a possible oil embargo on Russia. The outcome of the talks with President

ANALYSIS-Petrobras bulls charge ahead despite risks in Brasilia

March 11, 2022

Nasdaq March 11 – Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic. Preferred shares in the firm plummeted 22% in a day. Analysts quickly downgraded a slew of Brazilian assets from state banks to sovereign debt. Many investors feared the company

EXCLUSIVE Brazil has oil. Exxon can’t seem to find it

February 14, 2022

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

Exclusive-U.S. weighs Chevron request to take Venezuela oil for debt payments -sources

February 7, 2022

Yahoo Finance HOUSTON/WASHINGTON – The Biden administration is considering a Chevron Corp proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close to the discussions said. Chevron representatives in recent months held at least one high-level meeting with U.S. diplomats along with Venezuelan opposition envoys, according to two of

South American oil nations sign MoU to explore development of energy corridor

January 25, 2022

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

Colombia’s presidential favorite seeks global coalition to end fossil fuels

January 17, 2022

World Oil (Bloomberg) –Colombia’s presidential front-runner Gustavo Petro is calling on ideological allies across Latin America and the world to join him in forming a new bloc to lead the economy away from fossil fuels. Oil and coal currently account for nearly half of Colombia’s exports, but Petro says if he becomes president this year, he’ll push to start phasing

South America’s oil giant and upcoming star looking to forge strategic partnership

January 12, 2022

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

Brazil’s Petrobras to sell Braskem stake by February

January 7, 2022

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

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