(Petrobras, 6.Apr.2021) — Petrobras announces that it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP’s entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. […]
Category: Brazil
Brazil energy
Petrobras To Boost Natural Gas Price For Distributors
(Petrobras, 5.Apr.2021) — Petrobras informs that as of 1 May 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which […]
Petrobras Adopts Cautious Fuel Price Approach
(Petrobras, 2.Apr.2021) — Petrobras, regarding the pieces of news published in the media, clarifies that it chose to adopt a more cautious approach in January 2021 and accelerated the fuel prices adjustments in February 2021, when the company became confident that oil and fuel prices would stabilize at a higher […]
Shell Updates On South American Assets In Annual Report
(Shell, 1.Apr.2021) — Shell provided details in its 2020 annual report related to its operations in South America from Argentina, Brazil and Bolivia. What follows is a summary from the report. South America Argentina We have more than 178 thousand net mineral acres in the Vaca Muerta Basin, a liquids- […]
Petrobras Reports Rise In S-10 Diesel Sales
(Petrobras, 1.Apr.2021) — Petrobras informs that in March it recorded total diesel sales in the amount of 791 thousand bpd, representing growths of 35% and 17% when compared to sales in the same month of 2020 and 2019, respectively. Also in March 2021, Petrobras surpassed the sales record for S-10 […]
Petrobras Completes Health Plan Transition
(Petrobras, 1.Apr.2021) — Petrobras, following up on the release disclosed on 29 April 2020, informs that the transition of Petrobras health plan operation was completed. As of April, the Petrobras Health Association (APS) takes over the operation of this benefit, becoming responsible for caring for nearly 280,000 beneficiaries throughout Brazil. […]
Brazil’s 1P Reserves Decline In 2020
(Energy Analytics Institute, 31.Mar.2021) — Brazil’s crude oil and natural gas reserves fell in 2020 across 1P, 2P and 3P categories, according to details published by the country’s National Agency of Petroleum, Natural Gas and Biofuels (ANP by its Portuguese acronym). In 2020, Brazil’s proven 1P oil reserves were 11.89 […]
Jair Bolsonaro Sparks Political Crisis
(Reuters, 30.Mar.2021) — Brazil will replace the three heads of its armed forces, the Defense Ministry said on Tuesday, as Latin America’s biggest nation, already roiled by the pandemic, faced a growing crisis between President Jair Bolsonaro and the military. The departure of Brazil’s three top military commanders comes a […]
LatAm Briefs: Argentina’s IMF Payments, Odebrecht Arrest Warrants
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina only paying the IMF around $3.1bn in interest and arrest warrants being issued for three former Odebrecht executives. Argentina Has Only Paid The IMF $3.1bn In Interest Argentina has paid the International Monetary Fund […]
Petrobras Dismisses HR Executive
(Petrobras, 29.Mar.2021) — Petrobras, regarding the pieces of news in the media, clarifies that today the Executive Manager of Human Resources was dismissed from the company for having failed to comply with the Policy of Disclosure of Material Act or Fact and of Securities Trading, which prohibits the negotiation of […]
LatAm Briefs: Petrobras Form 20-F, Ecopetrol Eyes Net Zero
(Energy Analytics Institute, 25.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Brazil’s Petrobras filing its Form 20-F for 2020 and Colombia’s Ecopetrol announcing its commitment and plans to achieve net zero carbon emissions by 2050. Petrobras files 2020 Form 20-F PetrĂłleo Brasileiro S.A. (Petrobras) filed its […]
Antonio Pinho Joins Excelerate In Brazil
(Excelerate Energy, 25.Mar.2021) — Excelerate Energy announced Antonio Pinho has joined the team as Commercial Director for Brazil. His addition comes as Excelerate continues to strengthen its position in South America to meet the growing demand for reliable energy in the region. Antonio joined the company on 4 March 2021, […]
Petrobras On Arbitration Decision
(Petrobras, 25.Mar.2021) — Petrobras, following up on the releases disclosed to the market on 22 June 2020 and 11 November 2020, announces that it received, on this date, a decision from the Market Arbitration Chamber of B3 (MAC), which granted its challenge and dissolved the Arbitration Tribunal that rendered a […]
Key Petrobras Executives Set To Depart
(Petrobras, 24.Mar.2021) — Petrobras informs that Andrea Almeida, Chief Financial and Investor Relations Officer, Carlos Alberto Pereira de Oliveira, Chief Exploration and Production Officer, AndrĂ© Chiarini, Chief Trading and Logistics Officer, and Rudimar Chief Production Development Officer, informed today to the Board of Directors that they do not intend to […]
Petrobras Inks Deal To Divest RLAM
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company’s shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, […]
Petrobras On Samsung Leniency Deal
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of $59.4mn, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7bn in funds recovered through collaboration, […]
Petrobras Begins Bahia Terra Cluster Binding Phase
(Petrobras, 19.Mar.2021) — Petrobras, following up on the release disclosed on 23 December 2020, informs the beginning of the binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, located in the RecĂ´ncavo and Tucano Basins, in the state of […]
LatAm Briefs: Pemex Costs, Ecuador Output
(Energy Analytics Institute, 18.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Banco do Brasil CEO resigning under pressures from Brazil’s President Jair Bolsonaro, Ecuador’s oil production reaching 506,519 barrels per day (b/d), and Pemex reducing production cost. Banco do Brasil CEO Resigns Under Bolsonaro Pressures Petrobras […]
Petrobras On Fiscal Council Nomination
(Petrobras, 18.Mar.2021) — Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports it has received from holders of common shares the nomination of candidates for the Fiscal Council, whose election will take place at the Annual General Meeting of 14 April 2021. Candidates nominated by shareholders FIA Dinâmica Energia and Banclass FIA: Candidate’s […]
Petrobras On Questionings Energy Ministry
(Petrobras, 18.Mar.2021) — Petrobras clarifies that it inquired its controlling shareholder, through the Ministry of Mines and Energy (MME), to which the company is linked under Law 9. 478/1997, about the existence of information that should be disclosed to the market, under the terms of CVM Instruction 358/2002, in view […]
Petrobras On BM-C-33 Developments
(Petrobras, 18.Mar.2021) — Petrobras has approved, together with its partners Equinor and Repsol Sinopec Brasil, the development concept for block BM-C33, operated by Equinor, located in the pre-salt layer of the Campos Basin, in the state of Rio de Janeiro. The block is about 200 km offshore and has water […]
Petrobras Informs Of Committee Meeting
(Petrobras, 15.Mar.2021) — Petrobras, in relation to the pieces of news published in the media, informs that its People Committee will hold a meeting tomorrow and, until this moment, among the items on its agenda, there is the analysis of Mr. Joaquim Silva e Luna´s appointment for Petrobras, with the […]
Sungrow To Supply Solar Project In Brazil
(Sungrow, 14.Mar.2021) — Sungrow, the global leading inverter solution supplier for renewables, will supply the SG3125HV central inverter solution for the implementation of the project Sol do SertĂŁo Solar after an agreement with Essentia Energia, a new Renewable Energy firm created by Pátria Investimentos. The projects will be implemented in […]
Frontera Announces CEO Succession
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the appointment of current director Orlando Cabrales Segovia as Chief Executive Officer. The company also provided an update on its 2021 Strategic Plan, including its growth opportunity in Guyana, its full year 2021 guidance, and its plans to implement a normal course issuer bid […]
Sungrow Launches 75 kW String Inverter In Brazil
(Sungrow, 2.Mar.2021) — Sungrow, the global leading inverter solution supplier for renewables, rolled out the Company’s latest commercial string inverter SG75CX for Brazilian micro-generation power plants, showcasing the Company’s continued commitment to comply with the regional power demand and decarbonize the local economy. The Brazilian solar market has not been […]
Nextracker To Supply Smart Solar Trackers In Brazil
(Nextracker, 2.Mar.2021) — Nextracker™, a Flex company, announced that it has been selected by leading Brazilian EPC firm Andrade Gutierrez and developer Elera Renováveis (formerly Brookfield Energia Renovável) to supply 830 MW of its world-leading solar tracker technology, NX Horizon™ for Phase I of the JanaĂşba solar complex located near the city […]
Petrobras Inks Contract To Divest Mangue Seco 2
(Petrobras, 26.Feb.2021) — Petrobras, following up on the release disclosed on 05/04/2020, informs that it signed today with Fundo de Investimento em Participações MultiestratĂ©gia Pirineus (FIP Pirineus), a contract for the sale of its entire 51% interest in the capital of EĂłlica Mangue Seco 2 – Geradora e Comercializadora de […]
Petrobras Inks Deal For Sale Of Miranga Cluster
(Petrobras, 24.Feb.2021) — Petrobras, following up on the release disclosed on 04/03/2018, signed today with SPE Miranga S.A., a wholly owned subsidiary of PetroRecĂ´ncavo S.A., a contract for the sale of its total stake in nine onshore exploration and production fields, called Miranga Cluster, located in the state of Bahia. […]
![Petrobras Tax Report 2020 [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2021/02/header-2021-02-27-D974_Relatorio-Fiscal-2020_-versao-ingles.png)
Petrobras Tax Report 2020 [PDF Download]
(Petrobras, 24.Feb.2021) — Petrobras CEO Roberto Castello Branco provides comments from senior management on 2020 in the company’s year-end tax report. Petrobras and society witnessed an unprecedented crisis, which affected all of us in 2020. In line with our commitment to people, the environment and security, we are engaged in […]
Petrobras BOD Approves CDMPI Incorporation
(Petrobras, 24.Feb.2021) — Petrobras informs that its Board of Directors, in a meeting held today, approved the proposed incorporation of Companhia de Desenvolvimento e Modernização de Plantas Industriais (CDMPI). The incorporation aims at simplifying and optimizing the corporate structure of Petrobras. Since this is an incorporation of a wholly-owned subsidiary, […]
Petrobras Comments On News Published In Media
(Petrobras, 24.Feb.2021) — Petrobras, in clarification to a piece of news published in the media, informs that the Board of Directors requested the Chief Financial and Investor Relations Officer, Andrea Marques de Almeida, to seek with the Ministry of Mines and Energy, information about the existence of facts that should […]
Petrobras In Turmoil As Investors Digest Shake-up
(Argus, 22.Feb.2021) — The share price of Brazil’s Petrobras nosedived today after President Jair Bolsonaro moved to overhaul the state-controlled company’s management, heralding a return to state intervention and threatening to derail a $25bn-$35bn divestment plan. The stunning development sent shock waves through the company’s executive ranks and the investment […]
ANP: Petrobras Shakeup Will Not Change Refinery Policy
(Reuters, 22.Feb.2021) — Brazil’s oil sector regulator ANP does not see President Jair Bolsonaro’s appointment of a new Petrobras CEO altering the country’s policy of opening up the domestic refinery market to private investment, ANP director-general Rodolfo Saboia said on Monday. Shares in Petroleo Brasileiro SA, as the company is […]
Petrobras On Samsung Leniency Deal
(Petrobras, 19.Feb.2021) — Petrobras has received R$360mn ($65mn) last week related to the leniency agreement executed by Samsung Heavy Industries. This cash arises from the first installment of the Samsung agreement of a total amount of R$705.9mn that will be applied to the reimbursement for Petrobras. With these values, Petrobras […]
Petrobras Starts Binding Phase Of CarmĂłpolis Cluster
(Petrobras, 19.Feb.2021) — Petrobras, following up on the release disclosed on 19 November 2020, informs the beginning of the binding phase regarding the sale of all of its stakes in a set of 11 onshore production field concessions, with integrated facilities, located in the state of Sergipe, jointly called the […]
Bolsonaro Says More Changes Underway
(Blooomberg, 19.Feb.2021) — Brazilian President Jair Bolsonaro said that more changes are underway after naming a former general to replace the University of Chicago-educated economist running state-controlled Petroleo Brasileiro SA. The leadership change at Petrobras followed a feud with Bolsonaro over fuel prices after Petrobras adjusted them to align with […]
Petrobras CEO Fights Pressure To Resign
(Reuters, 19.Feb.2021) — The chief executive of Brazil’s state-led oil company Petrobras is trying to fight off President Jair Bolsonaro’s bid to oust him over his insistence on raising gasoline prices in line with international market hikes, two sources with direct knowledge of the matter told Reuters on Friday. The […]
Petrobras CEO Castello Branco Out, Luna In
(Energy Analytics Institute, 19.Feb.2021) — A shake up at Petrobras will see CEO Roberto Castello Branco being replaced by Joaquim Silva e Luna, according to Brazil’s mining and energy ministry. “The government decided to nominate Joaquim Silva e Luna to fulfill a new mission as board member and president of […]
Petrobras On Rating Maintenance By Fitch
(Petrobras, 16.Feb.2021) — Petrobras announces rating agency Fitch affirmed the ”BB-“ issuer default ratings for Petrobras, with a negative outlook, reflecting the agency’s opinion on the sovereign’s ratings. Petrobras stand-alone credit profile was also affirmed at “bbb”, 4 notches above the sovereign. Fitch highlighted the company’s strong capital structure, declining […]
Petrobras On Inking PSA For RLAM
(Petrobras, 11.Feb.2021) — Petrobras, regarding a piece of news published on the media about the sale of the refineries, clarifies that the dates for the signing of the purchase and sale agreement and for their effective transfer to the buyers (respectively signing and closing) are merely internal estimates subject to […]
Petrobras To Host 4Q:20 Results Webcast
(Petrobras, 10.Feb.2021) — Petrobras informs that on 25 February 2021 two webcasts will be held, the first in Portuguese and the second in English, to present the company’s results for the fourth quarter of 2020. Petrobras will use the Microsoft Teams tool (link below) for the event. 25 February 2021 […]
China Expands Presence In LatAm’s Energy Industries
(IOA, 10.Feb.2021) — China is broadening its presence in Latin America’s energy and strategic minerals sectors, posing challenges to the regional countries themselves as well as to the United States, according to a new white paper published by the Institute of the Americas (IOA), an independent, nonpartisan organization based in […]
Petrobras Concludes BSBios Divestment
(Petrobras, 9.Feb.2021) — Petrobras following up on the release disclosed on 23 December 2020, informs that its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBio) completed today the sale of all its shares (50% of the company’s capital) issued by BSBios IndĂşstria e ComĂ©rcio de Biodiesel Sul Brasil S/A (BSBios) to the […]
Petrobras On RLAM And REPAR Divestments
(Petrobras, 8.Feb.2021) — Petrobras concluded the final round of the binding phase of the sale process of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, in which Mubadala Capital presented the best final offer in an amount of $1.65bn. The signing of the purchase and sale […]
Petrobras Says Alignment To Int’l Prices Unchanged
(Petrobras, 7.Feb.2021) — Petrobras is clarifying a piece of news published on Friday afternoon, 5 February 2021, based on distorted statements released by the press. The maintenance of the periodicity for the measurement of the adherence between realization prices and international prices, adopted since June 2020 and confirmed in January […]
Petrobras Concludes Frade Field Divestment
(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 28 November 2019, informs that it has concluded today the sale of its 30% participation in the Frade field, located in the Campos Basin, north coast of the state of Rio de Janeiro, to PetroRio Jaguar PetrĂłleo Ltda., a […]
Petrobras Begins Non-binding Phase For TBG, TSB
(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 23 December 2020, informs the beginning of the non-binding phase regarding the sale of its 51% stake in Transportadora Brasileira Gasoduto Bolivia-Brasil S.A. (TBG) and 25% stake in Transportadora Sulbrasileira de Gás S.A. (TSB). Potential buyers qualified for this […]
Petrobras Says Fuel Prices Aligned To Import Parity
(Petrobras, 5.Feb.2021) — Petrobras, regarding the news published in the media about fuel prices, clarifies that it practices prices aligned to the import parity. In the first half of 2020, given the significant increase in fuel price volatility, Petrobras decided to extend from quarterly to annual the limit period for […]
Bolsonaro To Discuss Diesel Price With Petrobras Head
(Reuters, 4.Feb.2021) — Brazilian President Jair Bolsonaro said he will meet on Friday with his Cabinet and the head of state-run oil company Petrobras to discuss diesel prices, a move that is not unprecedented under his administration, but could cause market jitters nonetheless. In a live video broadcast on Facebook […]
ANP Notifies Petrobras And BR Of Investigation
(Energy Analytics Institute, 4.Feb.2021) — Brazil’s National Agency of Petroleum, Natural Gas and Biofuels or ANP notified BR Distribuidora on 3 February 2021 and Petrobras on 4 February of an investigative process conducted by the agency regarding fuel produced in the Presidente Bernardes Refinery (RPBC) in CubatĂŁo, SĂŁo Paulo. ANP, […]