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Share Price: 2,814.50
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Newcomer Elysian, Petrobras notch big wins in Brazil oil auction

Wed, 13th Dec 2023 23:16

RIO DE JANEIRO, Dec 13 (Reuters) - Oil companies including Elysian along with veterans Petrobras and Chevron snapped up the most blocks up for grabs in Brazil's latest offshore oil auction marked by climate protests, as the South American nation looks to replenish reserves with new discoveries.

Oil regulator ANP ran the tender that assigned 192 exploration and production areas out of more than 600 on offer, with newcomer Elysian winning 122 of them.

The government will receive nearly 500 million reais ($102 million) from the blocks auctioned, mostly from contracts for areas in the deep water Pelotas Basin along Brazil's southern coast.

State-run Petrobras secured 29 blocks in the deep water basin, all as operator with consortium partner Shell . In three of them, China's state-owned CNOOC also formed part of the winning group.

"We achieved a very successful strategy... We entered a border area with little probability of having environmental problems," said Petrobras CEO Jean Paul Prates, describing the area as "very prolific."

U.S. major Chevron also won rights in 15 blocks in the same basin.

Elysian is based in Minas Gerais state and was created only in August to compete in the auction. Its winning bids stretched across three other offshore basins - Potiguar, Espirito Santo and Sergipe Alagoas.

Outside the Rio de Janeiro hotel where the auction took place, climate activists loudly protested the push to keep pumping more fossil fuels, linked by scientists to catastrophic global warming, demanding an immediate transition to clean energy.

"The signals that the Brazilian government is sending to the international community with an oil auction a day after the (the global climate meetings in Dubai) are the worst possible," said Marcelo Laterman, coordinator of Greenpeace's Oceans Front.

In his opening speech, ANP head Rodolfo Saboia acknowledged the auction may seem like a contradiction, but he argued the world's dependence on fossil fuels will not be eliminated in five or ten years.

He added that new oil and gas exploration is needed to avoid falling oil production over the next decade.

Brazil is Latin America's top crude oil producer, followed by Mexico, Colombia and Venezuela.

In the offshore Santos Basin, Karoon won a pair of blocks, while CNOOC and Norway's Equinor won the other two alone.

Five more blocks in Brazil's pre-salt offshore areas were also auctioned under a sharing regime, with BP winning the rights for the only one that received bids in the Santos Basin. ($1 = 4.9256 reais) (Reporting by Marta Nogueira and Rodrigo Viga Gaier; Writing by Peter Frontini; Editing by Jonathan Oatis, Leslie Adler and Josie Kao)

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9 May 2024 15:51

UK dividends calendar - next 7 days

Friday 10 May 
AIB Group PLCdividend payment date
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Hammerson PLCdividend payment date
Hunting PLCdividend payment date
International Personal Finance PLCdividend payment date
Invesco Select Trust Global Equity Income PLCdividend payment date
Invesco Select Trust UK Equity PLCdividend payment date
Johnson Service Group PLCdividend payment date
Kerry Group PLCdividend payment date
Moneysupermarket.com Group PLCdividend payment date
Schroder Asian Total Return Inv Co PLCdividend payment date
Schroder European Real Estate Investments Trust PLCdividend payment date
Schroder Oriental Income Fund Ltddividend payment date
Serco Group PLCdividend payment date
Smurfit Kappa Group PLCdividend payment date
Somero Enterprises Incspecial dividend payment date
Taylor Wimpey PLCdividend payment date
Tufton Oceanic Assets Ltddividend payment date
VPC Specialty Lending Investments PLCdividend payment date
Monday 13 May 
Games Workshop Group PLCdividend payment date
Life Science REIT PLCdividend payment date
Seed Innovations Ltdspecial dividend payment date
Smiths Group PLCdividend payment date
VinaCapital Vietnam Opportunity Fund Ltddividend payment date
Tuesday 14 May 
BlackRock World Mining Trust PLCdividend payment date
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Wednesday 15 May 
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Jardine Matheson Holdings Ltddividend payment date
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Thursday 16 May 
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Alternative Income REIT PLCex-dividend payment date
Aquila European Renewables PLCex-dividend payment date
Balfour Beatty PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCdividend payment date
BP PLCex-dividend payment date
Bunzl PLCex-dividend payment date
Churchill China PLCex-dividend payment date
EJF Investments Ltdex-dividend payment date
Essentra PLCex-dividend payment date
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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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8 May 2024 16:58

Europe Gasoline/Naphtha-Gasoline cracks decline after surprise US inventory gain

LONDON, May 8 (Reuters) - Northwest European gasoline refining margins dropped below $22 a barrel on Wednesday after U.S. data showed an unexpected rise in inventories.

Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $855 $885-$$ BP, Gunvor,
Barges 888(14K Sahara, Exxon
Argus T) Varo
E5(fob
AR)
Ebob $877-$8
Barges 77.75
E10 Argus (11KT)
(fob AR)
June swap $847 $855
(fob ARA)
Premium $865-$8 $869 Trafigu Shell,
Unleaded 67 ra Total
(fob ARA)
<PU-10PP-
ARA>
Cargoes May
(fob MED) +$14
Cargoes $914 Gunvor Equinor
(cif NEW) (Tees)
Naphtha
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $21.87 Prev. $22.41
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ron Bousso; Editing by Kirsten Donovan)

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8 May 2024 14:29

Shell sells Singapore refinery to Glencore joint venture

(Sharecast News) - Energy giant Shell has announced that it is selling its interest in Singapore's Energy and Chemicals Park, the company's largest petrochemical production and export centre in Asia Pacific.

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8 May 2024 13:19

Middle East Crude-Benchmarks fall, snapping two-day streak

SINGAPORE, May 8 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban fell on Wednesday after rising for consecutive days after Saudi Aramco and ADNOC raised official selling prices (OSPs) for term supplies in June.

8 May 2024 07:07

Shell to sell Singapore refinery, petrochemical assets to Chandra Asri and Glencore

SINGAPORE, May 8 (Reuters) - Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture between Indonesia's PT Chandra Asri Pacific and Swiss commodities trader Glencore.

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7 May 2024 18:31

Europe Gasoline/Naphtha-Gasoline cracks steady as supply stays abundant

LONDON, May 7 (Reuters) - Northwest European gasoline refining margins were largely steady at $22.88 a barrel on Tuesday as European stock levels dipped and the market remains well supplied.

Trade    Bid      Offer    Prev.    Buyer    Seller
Ebob $915
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob
Barges
E10
Platts(fo
b ARA)
Ebob $885-$$ $896-$8 Litasco Gunvor,
Barges 888(14K 96.25 , Trafigu
Argus T) Glencor ra
E5(fob e, BP,
AR) Sahara,
Shell
Ebob $877-$8 $882-$8 Litasco Varo,
Barges 77.75 82.25 , BP, Totsa,
E10 Argus (11KT) P66 GST,
(fob AR) Mabanaf
t
June swap $855 $862.50
(fob ARA)
Premium $869 $876 Vitol Totsa
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes May
(fob MED) +$14
Cargoes $914 Gunvor Equinor
(cif NEW) (Tees)
Naphtha
(cif NEW)
<NAF-C-NW
E>

Ebob crack (per barrel) $22.878 Prev. $22.646
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Noah Browning; Editing by Richard Chang)

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7 May 2024 17:43

European shares close at record highs on financials boost

Infineon jumps 12.9% on Q2 sales beat

*

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7 May 2024 17:30

UK's FTSE 100 notches record closing high in broad rally

FTSE 100 up 1.2%, FTSE 250 adds 1.2%

*

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7 May 2024 16:32

London close: Stocks jump on return from long weekend

(Sharecast News) - London markets closed on a high note on Tuesday, as the top-flight index surged to record highs, buoyed by positive momentum from the US and European markets.

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7 May 2024 16:08

BP profit slides by 40% as refinery outage offsets higher output

First-quarter underlying profit $2.7 bln vs forecast $2.87 bln

*

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7 May 2024 15:25

Shell confirms "several" parties eying South African retail business

(Alliance News) - Shell PLC said on Tuesday it has been approached by "several highly credible parties" interested in its retail business in South Africa.

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7 May 2024 13:29

Shell says it remains committed to mobility business in Malaysia

May 7 (Reuters) - Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.

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6 May 2024 15:01

Shell to exit South Africa's downstream businesses

CAPE TOWN, May 6 (Reuters) - Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.

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6 May 2024 09:10

Tanzanian LNG project delayed as government seeks to change terms

LONDON, May 6 (Reuters) - Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, a government spokesperson and two company sources said.

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6 May 2024 08:33

Tanzanian LNG project delayed as government seeks to change terms, sources say

LONDON, May 6 (Reuters) - Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, two sources from companies involved in the project said.

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