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Petrobras reports $754M quarterly profit

March 24, 2017 0

Brazilian state-held oil company Petrobras, the center of a huge corruption scandal in the country, reported this week it turned a $754 million profit in the fourth quarter of 2016, vs. a $9.42 billion loss in the year-earlier period.

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China’s biggest O&G producer preparing to spin-off pipelines

March 24, 2017 0

PetroChina’s natural gas and crude oil transportation system, stretching from the country’s remote borders with Central Asia to major coastal cities, could be worth at least $85 billion via a spinoff, analysts at Sanford C. Bernstein and Jefferies Group, told Bloomberg.

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Way cleared for $10 billion petchem plant

March 24, 2017 0

A $10 billion petrochemical complex north of Corpus Christi, Texas, can move forward after a local school board unanimously approved millions of dollars in tax breaks sought by developers.

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