Repsol

Brazil refineryAt a year-end breakfast in Rio de Janeiro this morning, Petrobras announced a bit of pre-holiday housekeeping to help set the stage for the expansion planned over the next few years. The Brazilian state-controlled oil company will pay $850m to buy back complete control of the Refap refinery, Brazil’s fifth-largest, from Repsol. Read more

China is putting down roots in the backyard of Petrobras, newly-crowned share issue king of world stock markets, with the announcement of a $7.1bn oil alliance in Brazil between Sinopec and Repsol. Read more