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Petrobras, the largest oil and gas company in Brazil, announced its intention to sell 100% of its share in the oil and gas fields in the state of Espirito Santo in the south-east of the country. The sale offer also includes infrastructure accompanying the deposits. It is reported that last year 2,800 barrels of oil and 11,000 cubic meters of gas per day were produced at these fields. Earlier, Petrobras announced its intention to sell 8 refineries in Brazil. Their total capacity is 1.1 million barrels per day. The announcement also spoke about the desire of the Brazilian oil and gas producer to sell the PUDSA filling station network in Uruguay. In addition, the company will reduce participation in its fuel distribution business in Brazil. The sale of assets is carried out as part of a large-scale restructuring of Petrobras, aimed at paying off debts.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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