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Latin America
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Friday, 03 February 2012 |
Brazil's state-run oil firm, Petrobras, has successfully sold $7bn worth of bonds in the country's largest ever corporate debt offering. The debt was issued as part of efforts to fund the company's ambitious investment programme, which is aimed at more than doubling oil output by 2020 through projects worth a combined $224.7bn.
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Thursday, 02 February 2012 |
Law enforcement officials in Mexico have found a seemingly-legitimate fuel service station acting as a distribution point for stolen fuel. The station, which was operated until 2010 under the Pemex brand, still carries official logos, and company officials said it was the first occasion that a station had been discovered selling stolen fuels.
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Wednesday, 01 February 2012 |
Argentina’s President, Cristina Fernandez de Kirchner, has put pressure on Argentina’s oil firms to boost production in the country, saying they are responsible for a doubling of fuel imports, even as her Government investigates their downstream activities and accuses them of market abuse.
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Tuesday, 31 January 2012 |
Venezuela’s state-run oil firm, PDVSA, has commissioned a study aiming to prove that Venezuela rather than Saudi Arabia has the world’s largest oil reserves. According to previous administration estimates, Venezuela has over 78bn barrels of reserves, though this figure does not include the 238bn extra-heavy Orinoco Oil Belt in the country’s Eastern region.
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Monday, 30 January 2012 |
Chevron has filed an appeal against an $18bn judgement in an alleged pollution case to the Provincial Court of Sucumbios. The oil major, which filed on Friday's deadline, said that an appelate court - which upheld the $18bn judgement - based its ruling on "fraudulent" evidence.
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Friday, 27 January 2012 |
HOVENSA has confirmed that it will shut down its refinery at St Croix in the US Virgin Islands. The facility will be changed to operate as an oil storage terminal.
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Thursday, 26 January 2012 |
Petrobras has announced that it will team with Intel to introduce new technology across its retail network to drive customers from their cars to on-site stores. Unveiling its Gas Station of the Future , Petrobras aims to break with the full-service model traditionally dominant in South America, using interactive and media-intensive signage to reach out to consumers.
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Wednesday, 25 January 2012 |
Petrobras has announced the appointment of Maria das Graças Foster (pictured) as the company's first ever female Chief Executive. Ms Foster will take over from current Chief Executive José Sérgio Gabrielli, who is leaving the company to pursue a political career, in February.
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Tuesday, 24 January 2012 |
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Last
week the national government said it was calling for an
official investigation into allegations that the country’s five major
oil
companies are in league to charge more for the bulk sale of diesel than
what
they do in the fuel service station network. PetrolWorld Global News Service has been following the story.
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Tuesday, 24 January 2012 |
 Local and national media outlets in Brazilian report that Petrobras CEO Jose Sergio Gabrielli may leave the company to pursue political office in 2013. Gabrielli, who has headed the company since 2005, has been linked with a post in his home state of Bahia, paving the way for a possible tilt at the Governorship of the state in 2013.
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