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.
Brazilian state-controlled oil and gas company Petrobras saw its output decline slightly in February, on a monthly basis, amid scheduled stoppages at platforms. Total oil and gas output reached 2.82 million barrels of oil equivalent per day (MMMBOE/d) last month, compared to 2.86 MMBOE/d in January.
Spanish utilities firm Gas Natural Fenosa has urged the Colombian government to quash the Superintendent of Residential Public Service’s order to liquidate its subsidiary Electricaribe, Kallanish Energy learns from the company.
Despite lower revenues in 2016 as a result of lower crude prices, Colombian oil and gas company reported Monday an annual profit of 1.6 trillion pesos versus a 2015 loss of 3.9 trillion pesos, Kallanish Energy learns from the company’s financial results.
Colombia’s state-owned oil and gas firm, Ecopetrol, plans to step up its exploration campaign in regions of high prospectivity in South America, but forecast 2017 will still be a tough year, Kallanish Energy learns.
Brazilian state-run oil company Petrobras and French supermajor Total have signed definitive contracts for the $2.22 billion deal in which Total will gain access to Brazil’s low-cost production pre-salt oilfields, Kallanish Energy learns.
Argentina’s state-run oil company YPF has closed a preliminary $300 million deal with Royal Dutch Shell to jointly develop a new pilot project in Bajada del Añelo, in the Vaca Muerta Shale Play, Kallanish Energy learns from the company.
Spanish renewable developer Iberdrola will gain sole control of two Brazilian onshore wind energy companies holding a combined capacity of 288 megawatts (MW), thanks to the acquisition of a 50% remaining stake from Brazil’s developer Neoenergia.
Brazilian state-run oil company Petrobras said its board of directors approved new settlements with four individual lawsuits in a U.S. federal court in New York last Friday, ending to date 19 individual actions, Kallanish Energy learns.