EnergyEXCLUSIVE Petrobras mulls insiders to fill key management vacancies -sources
Sabrina ValleMarta Nogueira
2 minutes read
A worker checks the fuel volumes on a train wagon near a tank of Brazil s state-run Petrobras oil company in Brasilia, Brazil, February 19, 2021. REUTERS/Ueslei Marcelino/File Photo/File Photo
Incoming Petrobras CEO Joaquim Silva e Luna has endorsed four members of the company s executive team to head up key divisions of the business, people with knowledge of the matter said on Thursday.
The board of directors of Petroleo Brasileiro SA , as Brazil s state-controlled company is formally known, meets on Friday to vote on the new division heads, the company said. The board is also expected to officially confirm Luna as CEO.
Exclusive: Petrobras mulls insiders to fill key management vacancies -sources yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
China’s Iranian oil buying spree crushes demand for Brazil, Angola crude
China’s record imports of Iranian crude in recent months has squeezed out supply from rival producers, forcing sellers of oil from countries such as Brazil, Angola and Russia to slash prices and divert shipments to India and Europe.
The jump in Iranian volumes took the market by surprise and has capped global oil prices although the Biden administration had been expected to resume talks with Tehran to revive a nuclear deal.
Iranian oil started to slip into China from late 2019 despite tough U.S. sanctions, but volumes began to surge only since late last year as oil rebounded above $60 and buyers were emboldened by the prospect of the United States lifting sanctions under President Joe Biden.
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SINGAPORE/Rio de Janeiro, Brazil (Reuters) - China’s record imports of Iranian crude in recent months has squeezed out supply from rival producers, forcing sellers of oil from countries such as Brazil, Angola and Russia to slash prices and divert shipments to India and Europe.
FILE PHOTO: An employee holds a sample of crude oil at the Yarakta oilfield, owned by Irkutsk Oil Co, in the Irkutsk region, Russia on March 11, 2019. REUTERS/Vasily Fedosenko/File Photo
The jump in Iranian volumes took the market by surprise and has capped global oil prices although the Biden administration had been expected to resume talks with Tehran to revive a nuclear deal.
Exclusive: Brazil studies subsidizing domestic fuel with oil auction proceeds -source
RIO DE JANEIRO – Brazil’s government is considering using some of the proceeds from an upcoming oil auction to create a fund that would protect domestic consumers from swings in fuel prices, a source with direct knowledge of the matter told Reuters.
Source: Reuters
The proceeds would come from the planned November auction of the Atapu and Sepia deepwater oil fields off Brazil’s southeastern coast, the source, who requested anonymity because the discussions are still private, said on Monday.
While it is not yet known how much money the auction will raise, the government believes it could bring in between 20 billion and 30 billion reais ($3.5 billion to $5.23 billion), the source said.