Shares of BP (NYSE:BP), Halliburton (NYSE:HAL), Petrobras (NYSE:PBR), Encana Corp. (NYSE:ECA) and Hess Corporation (NYSE:HES) closed mixed Wednesday, as inventory was down and OPEC couldn't reach a production agreement.
July crude oil climbed $1.65, or 1.67 percent on the New York Mercantile Exchange, settling at $100.74 a barrel, trading in a range of $98.02 to $101.89 on Wednesday.
U.S. gasoline stockpiles jumped 2.21 million barrels last week, more than expected, and distillate stocks increased by 810,000 barrels, against a projection for stocks to remain the same, according to the EIA.
The U.S. Energy Information Administration said crude stock in the U.S. fell 4.85 million barrels, the biggest drop since December 2010.
Hess Corporation closed Wednesday at $73.77, falling $0.76, or 1.02 percent. Encana ended the session at $32.70, down $0.13, or 0.40 percent. Petrobras closed at $32.84, gaining $0.20, or 0.61 percent. Halliburton ended the day at $47.69, dropping $0.41, or 0.85 percent. BP closed at $43.49, losing $0.51, or 1.16 percent.
Showing posts with label Petrobas. Show all posts
Showing posts with label Petrobas. Show all posts
Thursday, June 9, 2011
Wednesday, June 8, 2011
Chevron (CVX) (COP) (XOM) (PBR) (APC) Close Down as Oil Rallies Late in the Session
A late rally for oil prices wasn't enough to bolster giant oil stocks like Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), Exxon Mobil (NYSE:XOM), Petrobras (NYSE:PBR) and Anadarko (NYSE:APC), which all closed down on Tuesday.
Other energy giants like BP (NYSE:BP), Marathon Oil (NYSE:MRO) and Halliburton (NYSE:HAL) did manage to close in positive territory.
Crude for July delivery settled at $99.09 a barrel on the New York Mercantile Exchange, the first positive close in three days, gaining 8 cents. Earlier in trading the contract was down as low as $97.74. Oil is up by about 39 percent over the last year.
Brent crude for July delivery jumped $2.30, or 2 percent, to $116.78 a barrel on the London-based ICE Futures Europe exchange.
The U.S dollar weakened against the euro, with the euro reaching $1.4696. The dollar also fell against the Swiss franc to 0.8327. Against a basket of major currencies the dollar declined to 73.506.
Even with the collapsing dollar it wasn't enough to have a significant impact because of the offsetting effect of the assumption OPEC will boost production, and an anemic economy is expected to reduce demand.
The Dow Jones industrial average dropped 19.15 points, or 0.16 percent, to close at 12,070.81. The Standard & Poor's 500 Index fell 1.23 points, or 0.10 percent, to close at 1,284.94. The Nasdaq Composite Index declined 1.00 point, or 0.04 percent, to end the session at 2,701.56.
Anadarko closed Tuesday at $73.74, down $1.01, or 1.35 percent. Petrobras ended the day at $32.64, falling $0.34, or 1.03 percent. Exxon Mobil closed at $80.00, declining $0.29, or 0.36 percent. ConocoPhillips ended at $70.87, dropping $0.05, or 0.07 percent. Chevron closed at $99.47, losing $0.21, or 0.21 percent.
Other energy giants like BP (NYSE:BP), Marathon Oil (NYSE:MRO) and Halliburton (NYSE:HAL) did manage to close in positive territory.
Crude for July delivery settled at $99.09 a barrel on the New York Mercantile Exchange, the first positive close in three days, gaining 8 cents. Earlier in trading the contract was down as low as $97.74. Oil is up by about 39 percent over the last year.
Brent crude for July delivery jumped $2.30, or 2 percent, to $116.78 a barrel on the London-based ICE Futures Europe exchange.
The U.S dollar weakened against the euro, with the euro reaching $1.4696. The dollar also fell against the Swiss franc to 0.8327. Against a basket of major currencies the dollar declined to 73.506.
Even with the collapsing dollar it wasn't enough to have a significant impact because of the offsetting effect of the assumption OPEC will boost production, and an anemic economy is expected to reduce demand.
The Dow Jones industrial average dropped 19.15 points, or 0.16 percent, to close at 12,070.81. The Standard & Poor's 500 Index fell 1.23 points, or 0.10 percent, to close at 1,284.94. The Nasdaq Composite Index declined 1.00 point, or 0.04 percent, to end the session at 2,701.56.
Anadarko closed Tuesday at $73.74, down $1.01, or 1.35 percent. Petrobras ended the day at $32.64, falling $0.34, or 1.03 percent. Exxon Mobil closed at $80.00, declining $0.29, or 0.36 percent. ConocoPhillips ended at $70.87, dropping $0.05, or 0.07 percent. Chevron closed at $99.47, losing $0.21, or 0.21 percent.
Tuesday, June 22, 2010
Petrobras (NYSE:PBR) Ignores BP (NYSE:BP), Investing $224 Billion Over Five Years
In what should be a very profitable move, the bold Brazilian oil company, Petroleo Brasilero SA, or Petrobras (NYSE:PBR), is ignoring the Gulf of Mexico troubles connected to the BP (NYSE:BP) oil spill, is investing about $224 billion over the next five years in its offshore oil fields, the largest discovered in the Western Hemisphere in 30 years.
The oil fields were discovered using new techniques which are able to discover what's below the salt on the ocean floor.
Now that so many possibilities are open because of the new way of finding out what's below the ocean floor, BP is also setting aside an additional $118.8 billion for exploration and production during that same five-year period as well.
With oil prices relatively low, although still more profitable than natural gas, the future looks bright for Petrobras, as they will assuredly make more discoveries of their coasts, and bring the world oil it thirsts so much for.
This is a great move by the company, as it's the perfect time to expand when the rest of the world is largely going on the defensive in regards to oil.
The oil fields were discovered using new techniques which are able to discover what's below the salt on the ocean floor.
Now that so many possibilities are open because of the new way of finding out what's below the ocean floor, BP is also setting aside an additional $118.8 billion for exploration and production during that same five-year period as well.
With oil prices relatively low, although still more profitable than natural gas, the future looks bright for Petrobras, as they will assuredly make more discoveries of their coasts, and bring the world oil it thirsts so much for.
This is a great move by the company, as it's the perfect time to expand when the rest of the world is largely going on the defensive in regards to oil.
Thursday, April 22, 2010
Petrobras (NYSE:PBR) Gas, Oil Production Down in March
Petrobras (NYSE:PBR) reported gas and oil production in March was down slightly, with gas and oil production combined reaching 2.556 million barrels of oil equivalent on a daily basis.
In February total gas and oil production for Petrobras was 2.561 barrels of oil equivalent a day, 0.2 percent more than March.
Domestic oil production for March increased to an average of 1.994 million barrels a day, a 0.3 percent gain. In February that came to 1.988 million billions a day for oil.
Internationally, crude oil production fell for the company, as it averaged 149,600 barrels of crude daily, dropping from the 151,400 average in February.
The main reason for the overall decline in March gas and oil production was decreasing demand for natural gas, as Petrobras has lowered its output in response to lower usage.
Natural gas production domestically dropped to 66.7 million cubic meters a day, falling from the 68.1 million cubic meters a day used in February.
In February total gas and oil production for Petrobras was 2.561 barrels of oil equivalent a day, 0.2 percent more than March.
Domestic oil production for March increased to an average of 1.994 million barrels a day, a 0.3 percent gain. In February that came to 1.988 million billions a day for oil.
Internationally, crude oil production fell for the company, as it averaged 149,600 barrels of crude daily, dropping from the 151,400 average in February.
The main reason for the overall decline in March gas and oil production was decreasing demand for natural gas, as Petrobras has lowered its output in response to lower usage.
Natural gas production domestically dropped to 66.7 million cubic meters a day, falling from the 68.1 million cubic meters a day used in February.
Tuesday, March 23, 2010
Petrobras (NYSE:PBR) Second to Exxon Mobil (NYSE:XOM)
Petrobras Second in Profits Only to Exxon Mobil in Americas
One consulting agency, Economatica, declared Petrobas (NYSE:PBR) was second only to Exxon Mobil (NYSE:XOM) in profits for the Americas in 2009.
Net profits for Petrobras in 2009 came to $16.6 billion according to Economatica.
Exxon Mobil still holds a solid lead over Petrobras, as they generated $19.28 billion in profits for 2009, about a 13.7 percent difference.
Still Petrobras has been closing the gap, as it's the smallest difference between the two companies since 1994.
Petrobras is the only company in the top 20 of the Americas from Brazil, with the rest based in the United States.
One consulting agency, Economatica, declared Petrobas (NYSE:PBR) was second only to Exxon Mobil (NYSE:XOM) in profits for the Americas in 2009.
Net profits for Petrobras in 2009 came to $16.6 billion according to Economatica.
Exxon Mobil still holds a solid lead over Petrobras, as they generated $19.28 billion in profits for 2009, about a 13.7 percent difference.
Still Petrobras has been closing the gap, as it's the smallest difference between the two companies since 1994.
Petrobras is the only company in the top 20 of the Americas from Brazil, with the rest based in the United States.
Tuesday, February 9, 2010
Petrobras (NYSE: PBR), Vale (NYSE: VALE) Gain as Commodities Rebound
Petrobras, Vale
Many of the Brazil stocks, including Petrobras (NYSE: PBR), Vale (NYSE: VALE) ended higher as commodity prices rebounded
The major stock index in Brazil, Ibovespa, was up by 0.62 percent on the day.
Giant miner Vale S.A. rose 1.10 percent to BRL41.25, while the state-owned oil company Petrobras gained 0.70 percent for the day.
Petrobras, Vale
Many of the Brazil stocks, including Petrobras (NYSE: PBR), Vale (NYSE: VALE) ended higher as commodity prices rebounded
The major stock index in Brazil, Ibovespa, was up by 0.62 percent on the day.
Giant miner Vale S.A. rose 1.10 percent to BRL41.25, while the state-owned oil company Petrobras gained 0.70 percent for the day.
Petrobras, Vale
Monday, January 25, 2010
Petrobras (NYSE:PZE) Brazil Oil Production 2009
Petrobras (NYSE:PZE)
Including gas production in Brazil for 2009, that increased overall by 5.1 percent to 2,287,457.
Gas production held down the average, as it was basically level for 2009 in comparison with 2008 in Brazil based on decreased demand. Daily gas volume in the country from Petrobras stood at 50,343,000 cubic meters a day, again, essentially the same usage as 2008.
Oil use in 2008 had stood at 1,854,655 barrels a day.
In 2008 the average combination gas and oil usage in Brazil from Petrobras was 2,275,896 barrels a day.
Oil production for Petrobras when taking in its overall global operations for 2009 came in at 2,525,260 barrels a day; up from 2,399,958 a day in 2008. That represents a 13.7 percent increase from 2008, or 140.576 barrels a day.
The drop in natural gas in general came from decreased demand from Bolivia.
Petrobras (NYSE:PZE)
Including gas production in Brazil for 2009, that increased overall by 5.1 percent to 2,287,457.
Gas production held down the average, as it was basically level for 2009 in comparison with 2008 in Brazil based on decreased demand. Daily gas volume in the country from Petrobras stood at 50,343,000 cubic meters a day, again, essentially the same usage as 2008.
Oil use in 2008 had stood at 1,854,655 barrels a day.
In 2008 the average combination gas and oil usage in Brazil from Petrobras was 2,275,896 barrels a day.
Oil production for Petrobras when taking in its overall global operations for 2009 came in at 2,525,260 barrels a day; up from 2,399,958 a day in 2008. That represents a 13.7 percent increase from 2008, or 140.576 barrels a day.
The drop in natural gas in general came from decreased demand from Bolivia.
Petrobras (NYSE:PZE)
Monday, January 12, 2009
Falling Commodity Prices Push Brazilian Stocks Down
Bovespa plunges as falling commodity prices put pressure on the Brazilian stock market.
As commodities go, so goes Brazil, and that has been shown again to be true as falling commodity prices pushed the Bovespa to its lowest levels since November 21, 2008, dropping 2,179.47 to 39,403.47, a 5.2 percent loss.
That effectively wiped out half of the gain since the beginning of the year. Much of the rise in the first part of the year was from the illusion the stimulus plans implemented around the world would push up the demand for commodities, which Brazil relies so strongly on.
Even so, long term Brazil will do well, as sooner or later the need for commodities will kick in and override the fears permeating the global markets at this time. As far as the near term, many are starting to believe the optimism was highly exaggerated, and things will take longer to recover than thought.
In 2008 the Bovespa went off the cliff by 41 percent, but had a brief surge since the beginning of 2009.
Vale, Rio Tinto Group, Gerdau and Petrobras, among many others, all participated in the big decline today.
Raw materials and oil make up 54 percent of the MSCI Brazil Index.
When it comes down to it, investors don't believe countries are anywhere near ready to invest heavily in commodities, so they're pulling back until they are convinced to the contrary. That'll take some time.
As commodities go, so goes Brazil, and that has been shown again to be true as falling commodity prices pushed the Bovespa to its lowest levels since November 21, 2008, dropping 2,179.47 to 39,403.47, a 5.2 percent loss.
That effectively wiped out half of the gain since the beginning of the year. Much of the rise in the first part of the year was from the illusion the stimulus plans implemented around the world would push up the demand for commodities, which Brazil relies so strongly on.
Even so, long term Brazil will do well, as sooner or later the need for commodities will kick in and override the fears permeating the global markets at this time. As far as the near term, many are starting to believe the optimism was highly exaggerated, and things will take longer to recover than thought.
In 2008 the Bovespa went off the cliff by 41 percent, but had a brief surge since the beginning of 2009.
Vale, Rio Tinto Group, Gerdau and Petrobras, among many others, all participated in the big decline today.
Raw materials and oil make up 54 percent of the MSCI Brazil Index.
When it comes down to it, investors don't believe countries are anywhere near ready to invest heavily in commodities, so they're pulling back until they are convinced to the contrary. That'll take some time.
Tuesday, March 4, 2008
Saudi Oil Minister says they're not running out of oil - prices will remain high
The oil minister of Saudi Arabia, Ali Al Nuaimi, contradicted some of those panicking over the theory of "peak oil," which assumes we are past the ability to meet the growing needs of the world.
As Nuaimi says, by the end of 2009, Saudi Arabia alone will have production capacity of 12.5 million barrels a day; up from the 11 million barrels a day produced now. That doesn't include backup capacity of 1.5-2.0 million.
Nuaimi added that Saudi Arabia plans on adding another 200 billion barrels of oil to the reserves figure.
The purpose in doing this said Nuaimi, is "to reassure the world that we are not going to run out of oil in the next five to ten years as peak oil theorists say."
Not only is that ridiculous, it's far from the truth. Anybody that's heard about the Canadian oil sands and understands its extraordinary potential, knows there's an unbelieveable resource there.
The estimates of oil in relationship to the sands, is it could be over two trillion barrels, and maybe even way beyond that.
Proven reserves are a minimum of 175 billion barrels, which is only second to the 260 billion of Saudi Arabia. Production could reach as high as 3 million barrels daily by 2020, and even may reach 5 million barrels a day by 2030.
If the barrels of oil in the Canadian sands are close to estimates, it will make Canada the energy leader in the world.
Couple that with the two recent discoveries of oil below the ocean by Brazil's Petrobas, and you can see the reserves of oil are huge. That doesn't take into consideration that the new technology being used to discover these fields have just been employed recently, and much of the oceans haven't even been searched yet.
Formerly you couldn't see beneath the ocean floor because of salt deposits to discover oil or gas, now you can.
The Tupi oil field may yield up to 8 billion barrels of oil, with initial production expected to be at about 100,000 barrels a day.
The other recently discovered field is called "Juniper," and is similar in size to the "Tupi" field, according to Petrobas.
However you want to look at it, oil is plentiful, and it's only a matter of ramping up production.
There's a lot of great investment possibilities with oil, especially in relationship to the Canadian sands. It's something that needs to be researched by those interested in energy investments.
As Nuaimi says, by the end of 2009, Saudi Arabia alone will have production capacity of 12.5 million barrels a day; up from the 11 million barrels a day produced now. That doesn't include backup capacity of 1.5-2.0 million.
Nuaimi added that Saudi Arabia plans on adding another 200 billion barrels of oil to the reserves figure.
The purpose in doing this said Nuaimi, is "to reassure the world that we are not going to run out of oil in the next five to ten years as peak oil theorists say."
Not only is that ridiculous, it's far from the truth. Anybody that's heard about the Canadian oil sands and understands its extraordinary potential, knows there's an unbelieveable resource there.
The estimates of oil in relationship to the sands, is it could be over two trillion barrels, and maybe even way beyond that.
Proven reserves are a minimum of 175 billion barrels, which is only second to the 260 billion of Saudi Arabia. Production could reach as high as 3 million barrels daily by 2020, and even may reach 5 million barrels a day by 2030.
If the barrels of oil in the Canadian sands are close to estimates, it will make Canada the energy leader in the world.
Couple that with the two recent discoveries of oil below the ocean by Brazil's Petrobas, and you can see the reserves of oil are huge. That doesn't take into consideration that the new technology being used to discover these fields have just been employed recently, and much of the oceans haven't even been searched yet.
Formerly you couldn't see beneath the ocean floor because of salt deposits to discover oil or gas, now you can.
The Tupi oil field may yield up to 8 billion barrels of oil, with initial production expected to be at about 100,000 barrels a day.
The other recently discovered field is called "Juniper," and is similar in size to the "Tupi" field, according to Petrobas.
However you want to look at it, oil is plentiful, and it's only a matter of ramping up production.
There's a lot of great investment possibilities with oil, especially in relationship to the Canadian sands. It's something that needs to be researched by those interested in energy investments.
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