Brazil state-controlled oil company Petrobras reported a net loss of 1.35 billion Reais (some 633 million dollars at the current exchange rate) in the second quarter, attributing the result to the depreciation of the Real relative to the dollar.
Brazil’s government controlled oil and gas corporation Petrobras and Britain’s BP announced the discovery of oil in a deep-water offshore well in a new area for exploration off Brazil's northeast coast, according to a securities filing on Thursday.
Brazilian oil and natural gas output rose 1.89% in May from April to 2.78 million barrels of oil and gas equivalent a day (boepd) as crude output from giant, new offshore fields increased, Brazil's oil agency ANP said on Thursday.
Petrobras Argentina, the local unit of Brazil's state-owned energy firm, said on Monday it had found new oil and natural gas resources in its Estancia Agua Fresca concession in the Patagonian province of Santa Cruz
Brazil’s Petrobras which has become the world’s biggest deepwater oil producer is looking past its largest discoveries to avoid a fate similar to Mexico, where output has plummeted 25% since 2004.
Brazil's state managed oil company Petrobras said it will raise gasoline and diesel prices for the first time since 2008, a move aimed at ending refining losses and paying for the world's largest corporate spending plan.
Officials from Brazil's state-run oil company, Petrobras and the government on Thursday confirmed they are studying a fuel price increase to help offset the costs of fuel sector investments.
Brazilian exports of iron ore from January through May were down 19% in value from the same period last year, according to a report from Sao Paulo based newspaper Folha on Thursday.
Brazil has a plan to bolster subsidized credit aimed at increasing corporate investment with 45 billion Real (approx 22.5 billion dollars) from the country’s development bank, BNDES.
Colombia’s national oil and gas corporation Ecopetrol has become Latin America's biggest company by market value, overtaking Brazil's mighty Petrobras.