Petrobras opens 2021 with record oil exports
Brazil's state-controlled Petrobras says crude exports through its Angra dos Reis terminal reached a record 19.3mn bl in January, the extension of an upward trend in dispatches of mainly pre-salt crude.
After reaching quarterly records earlier in 2020, Petrobras' crude outflows slipped on planned maintenance at pre-salt fields in the Santos basin in the fourth quarter. Even with the turnarounds, Petrobras' crude exports for the year climbed by 33pc over 2019 to 713,000 b/d.
A pandemic-induced slump in domestic fuel demand and increased pre-salt production helped lift the company to a crude export record last year. Outflows are expected to grow to an annual average of 891,000 b/d through 2025, according to the firm's $55mn spending plan.
The company's domestic liquids production averaged around 2.27mn b/d in 2020, a 4.3pc increase over 2019, according to its quarterly production report. Pre-salt output climbed by 21.1pc over 2019 to 1.546mn b/d while post-salt production slumped by 17.3pc in the same period to around 582,000 b/d.
The company's shallow-water output was halved between 2019 and 2020, when production following the closure of some 60 platforms and a handful of divestments averaged 32,000 b/d.
Petrobras' domestic crude production is expected to remain flat this year, the result of planned divestments, but the firm says a 180,000 b/d production platform will come on stream at the Sepia pre-salt field at mid-year. Another 180,000 b/d platform is slated to be deployed in the Mero pre-salt field later in the year.
Petrobras sold around 1.664mn b/d of fuel in 2020, a 5.1pc year-on-year decline, but it managed to increase average refinery throughput to 79pc from 77pc in the same period. The increase in utilization was mainly the result of increased global demand for low-sulfur marine fuel, exports of which climbed almost 46pc over 2019 to 194,000 b/d.
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US House passes waterways bill
US House passes waterways bill
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US House to vote on waterways bill
US House to vote on waterways bill
Houston, 22 July (Argus) — The US House of Representatives is expected to vote on 22 July on a waterways bill that would authorize new infrastructure projects across ports and rivers. The Water Resources Development Act (WRDA) is renewed typically every two years to authorize projects for the US Army Corps of Engineers (Corps). The bipartisan bill is sponsored by representative Rick Larsen (D-Washington) and committee chairman Sam Graves (R-Missouri). The full committee markup occurred 26 June, where amendments were added, and the bill was passed to the full House . A conference committee will need to be called to resolve the different versions of the bill. The major difference between the bills is that the House bill does not include an adjustment to the cost-sharing structure for the lock and dam construction and other rehabilitation projects. The Senate Committee on Environment Public Works passed its own version of the bill on 22 May, with all members in favor of the bill. The House version of the bill approves modifications to the Seagirt Loop Channel near the Baltimore Harbor in Maryland, along with 11 other projects and 160 feasibility studies. One of these studies is a $314.25mn resiliency study of the Gulf Intracoastal Waterway, which connects ports along the Gulf of Mexico from St Marks, Florida, to Brownsville, Texas. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Esso bleibt Verkauf von Miro-Anteilen untersagt
Esso bleibt Verkauf von Miro-Anteilen untersagt
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Dangote refinery's diesel quality proves divisive
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