Tag: Petrobras

Saudi oil attack could spur further Brazilian ethanol demand domestically

Saudi oil attack could spur further Brazilian ethanol demand domestically

September 18, 2019 |

In Brazil, Reuters reports that Petrobras is not yet clear how much of the oil price increase on international markets resulting from the attack on Saudi oil production over the weekend will be passed on to consumers. Any increase in price is likely to be good for ethanol demand. Sugar mills are already dedicating around […]

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Petrobras sells 50% stake in Belem Bioenergia Brasil to Galp Bioenergy

Petrobras sells 50% stake in Belem Bioenergia Brasil to Galp Bioenergy

August 10, 2019 |

In Brazil, Petrobras signed a contract to sell its 50% stake in Belem Bioenergia Brasil to Galp Bioenergy BV, which holds the other 50% stake in the company. According to the Petrobras press release, the transaction value is R$ 24.7 million (about $6.3 million), which will be retained by Galp until December 2020 for potential […]

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Petrobras’ fire sale put on hold after supreme court justice steps in

Petrobras’ fire sale put on hold after supreme court justice steps in

July 5, 2018 |

In Brazil, Bloomberg reports that a supreme court justice has put the brakes on Petrobras’ divestiture of its biofuel and other assets, saying that the privatization of those assets requires congressional approval. The company beleaguered by scandal and billions in debt has been trying to sell off its ethanol and biodiesel assets. The report did […]

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Petrobras sells remaining shareholding in Sao Martinho for $137 million

Petrobras sells remaining shareholding in Sao Martinho for $137 million

February 20, 2018 |

In Brazil, Petrobras sold its remaining 24 million shares in Sao Martinho, worth 6.59% of the company, at an auction held at the Sao Paulo B3 exchange for $137 million. The companies had previously collaborated on ethanol plants but Petrobras backed out in 2016 as it began reorganizing its assets that later became a fire […]

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Petrobras to join Oil and Gas Climate Initiative after selling off biofuel assets

Petrobras to join Oil and Gas Climate Initiative after selling off biofuel assets

January 27, 2018 |

In Brazil, Petróleo Brasileiro S.A. (Petrobras) is joining the Switzerland-based Oil and Gas Climate Initiative, whose member companies represent more than a quarter of the world’s oil and gas production. OGCI aims to speed and scale up initiatives taken by member companies to reduce the greenhouse gas footprint of their core oil and gas business […]

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Petrobras divesting BSBios in next step of asset fire sale

Petrobras divesting BSBios in next step of asset fire sale

December 18, 2017 |

In Brazil, Petrobras is continuing with its divestiture plans by getting rid of its 50% stake in BSBios that owns two biodiesel plants in Rio Grande do Sul and Paraná with a total installed production capacity of 288,000 cubic meters. The company’s other 50% is held by R.P. Biocombustiveis Holding who has first right to […]

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Petrobras gets exemptions and adjustments from ANP for Libra pilot project

Petrobras gets exemptions and adjustments from ANP for Libra pilot project

October 8, 2017 |

In Brazil, Petrobras was informed that it was exempt from complying with local content requirements for all parts of the hull and some parts of the plant for their Libra Pilot project. Petrobras is the operator of the Libra consortium and was notified by the National Petroleum, Natural Gas and Biofuels Agency (ANP) of its […]

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Petrobras lowers gas prices for second time in a month

Petrobras lowers gas prices for second time in a month

June 19, 2017 |

In Brazil, for the second time in less than a month, Petrobras as lowered the gasoline price that is turn further pressures ethanol demand and pushes the ethanol parity level with sugar well below 13 cents. Despite hydrous ethanol prices being 68% of gasoline prices during the week ending June 10, the lowest since September […]

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Brazilian hydrous ethanol prices will have to fall further after Petrobras cuts gas prices again

Brazilian hydrous ethanol prices will have to fall further after Petrobras cuts gas prices again

May 29, 2017 |

In Brazil, ethanol prices may be forced to fall even further in line with Petrobras’ cuts to gasoline prices. On Thursday the oil major announced a 5.4% price cut effective immediately, meaning a 2.4% price drop at the pump. The latest figures from the energy agency ANP show that hydrous ethanol prices had fallen below […]

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Petrobras turns its back on biofuels now that it has divested

Petrobras turns its back on biofuels now that it has divested

April 19, 2017 |

In Brazil, now that Petrobras has divested from biofuels in its attempt to raise funds to pay off massive $100 billion debt, it has come out against the government’s new RenovaBio program meant to raise biofuel production and consumption, claiming that biofuels negatively impact forests and threaten food production. It continued by saying that biofuel […]

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