(Energy Analytics Institute, 2.Feb.2021) — Brazil’s production of both crude oil and natural gas reached 3.525 million barrels of oil equivalent per day (MMboe/d) in December 2020, according to Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) Total production in December 2020 was comprised of 2.726 million barrels […]
Category: Brazil
Brazil energy
Petrobras Receives Proposals For Urucu Cluster
(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 7 December 2020, informs it has received binding proposals for the sale of its entire stake in a set of seven onshore production concessions, called Urucu Cluster, located in the Solimões Basin, in the state of Amazonas, and it […]
No Bids By Petrobras For Renting Of LNG Terminal
(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the bidding process started on 3 August 2020 was ended, with no valid proposals, and that the company published, on today’s date, Bid Notice 002, aiming to determine a new deadline for the accreditation […]
Petrobras Chief Governance Officer Leaving In March
(Petrobras, 1.Feb.2021) — Petrobras informs that the Chief Governance and Compliance Officer, Marcelo Zenkner, has notified his intention to not renew his mandate, which will expire on 20 March 2021, for personal reasons: “I consider the mission of disseminating and generating engagement of the integrity culture at Petrobras duly fulfilled. […]
Petrobras Inks Deal To Divest Espírito Santo Assets
(Petrobras, 1.Feb.2021) — Petrobras, following up on the release disclosed on 5 August 2019, informs it has signed with the companies OP Energia Ltda. and DBO Energia S.A. a contract for the sale of the totality of its participations in the production fields of Peroá and Cangoá, and in the […]
Petrobras Finds Oil At Campos Basin Urissanê Well
(Petrobras, 29.Jan.2021) — Petrobras informs that has identified the presence of hydrocarbon in the wildcat well of block C-M-411, located in the pre-salt of the Campos Basin, in Rio de Janeiro state. The well 1-BRSA-1377-RJS, informally known as Urissanê, is located approximately 200 km from the coast, in water depth […]
Petrobras And Ecopetrol Bullish On 2021
(Argus, 28.Jan.2021) — Just as Covid-19 affected each Latin American country differently, so too is the outlook of each country’s future crude oil production and exports. Colombia’s state-owned Ecopetrol and Brazil’s state-run Petrobras developed years-long strategies that in a year fraught with hurdles managed to yield higher export figures in […]
Bolsonaro Urges Truckers Not To Strike
(Reuters, 27.Jan.2021) — Brazilian President Jair Bolsonaro on Wednesday urged truckers not to strike on Feb. 1, suggesting he could lower diesel costs with tax breaks as he seeks to head off a crushing blow to the country’s pandemic-stricken economy. Speaking in Brasilia after a meeting with Economy Minister Paulo […]
Petrobras Gets Approval For Petros Plan 3
(Petrobras, 27.Jan.2021) — Petrobras, following up on the release disclosed on 18 January 2021, informs that the Secretariat for Coordination and Governance of StateOwned Companies (SEST) and the National Private Pension Superintendence (PREVIC) approved the Petros Plan 3 (PP-3). PP-3 will be a private pension option exclusively aimed to voluntary […]
Petrobras’s Refining Head Anelise Quintão Lara Leaves
(Petrobras, 26.Jan.2021) — Petrobras informs that its Board of Directors, in a meeting held today, approved the dismissal of Anelise Quintão Lara and elected Rodrigo Costa Lima e Silva as Chief Refining and Natural Gas Officer. The Refining and Natural Gas Office is responsible for the industrial operations of refining […]
Petrobras On Deal With Sete Brasil
(Petrobras, 26.Jan.2021) — Petrobras, following up on the release disclosed on 12 November 2020, informs it has received a notification from the Sete Brasil in which: (a) it indicates that will not comply with certain conditions set forth in the agreement that should be fully met by 31 January 2021; […]
Petrobras’ Proved Reserves Fall In 2020 Versus 2019
(Petrobras, 26.Jan.2021) — Petrobras discloses its proved reserves of oil, condensate and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 8.816 billion barrels of oil equivalent (boe), as of 31 December 2020. Oil and condensate, and natural gas correspond to 86% and 14% of this […]
Valor Econômico’s REFAP Figures Wrong: Petrobras
(Petrobras, 21.Jan.2021) — Petrobras, regarding the news published in the media, about Ultrapar Participações S.A.’s proposal to acquire Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, clarifies that the values published in the newspaper Valor Econômico are not correct. As disclosed on January 19, 2021, the company is in […]
Petrobras Comments On REFAP Sale
(Petrobras, 21.Jan.2021) — Petrobras, regarding the news published in the media, about Ultrapar Participações S.A.’s proposal to acquire Refinaria Alberto Pasqualini (REFAP), in Rio Grande do Sul, clarifies that the values published in the newspaper Valor Econômico are not correct. As disclosed on 19 January 2021, the company is in […]
FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina
(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue of approximately $1.15bn as compared with prior guidance of $1.23bn to $1.29bn, and fourth quarter adjusted EBITDA in the range […]
Petrobras Comments On Refinery Divestments
(Petrobras, 19.Jan.2021) — Petrobras, regarding the news published in the media on the divestments progress of the refineries, clarifies: (i) the company has received a binding proposal for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, and is in the negotiation phase with Ultrapar Participações S.A.; […]
Petrobras On Amendments To Deals With CADE
(Petrobras, 18.Jan.2021) — Petrobras in relation to the news published in the media clarifies that the company did not sign the amendment to the Commitment Agreement (“TCC”) signed with the Administrative Council for Economic Defense (CADE) for the refining market. The draft of the amendment was approved by CADE to […]
Petrobras Comments On New Pension Plan (PP-3)
(Petrobras, 18.Jan.2021) — Petrobras, following up on the release disclosed on 1 October 2020, informs that the Petros Deliberative Council and the company’s Board of Directors have approved a new version of the documentation for the opening of the Petros Plan 3 (PP-3) and migration process, after the conclusion by Petros […]
Petrobras Starts North Capixaba Binding Phase
(Petrobras, 15.Jan.2021) — Petrobras, following up on the press release disclosed on 29 September 2020, informs the beginning of the binding phase regarding the sale of the totality of its stakes in a set of four onshore field concessions, with integrated facilities, jointly named North Capixaba Cluster, located in the […]
Petrobras CEO Denies Claims Of ‘Predatory’ Pricing Policy
(Reuters, 13.Jan.2021) — Roberto Castello Branco, chief executive of Brazil’s state-run oil company Petroleo Brasileiro SA, has dismissed accusations from private fuel importers that the firm is enforcing a price policy that does not reflect market dynamics. Branco said in the Wednesday edition of daily Valor Econômico that the claims […]
Petrobras’ 4Q:20 Results Call Details
(Energy Analytics Institute, 13.Jan.2021) — Petrobras will report and release its production and sales details for the fourth quarter 2020 on 2 February 2021 followed by its fourth quarter financial performance report on 24 February, after the markets close. The Rio de Janeiro-based oil giant will hold webcasts on 25 […]
Petrobras Sets Fresh Annual Production Record In 2020
(S&P Global Platts, 8.Jan.2021) — Brazilian state-led oil company Petrobras set a fresh record for annual output in 2020 on better-than-expected performance at the Buzios Field and improved corrosion-treatment efforts at its subsalt fields, the company said Jan. 7. “The records demonstrate good operational performance despite the challenging scenario of […]
Petrobras Inks Deal To Divest Mangue Seco 1
(Petrobras, 7.Jan.2021) — Petrobras, following up on the release disclosed on 4 May 2020, informs that it signed today with V2I Transmissão de Energia Elétrica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the sale of the totality of its stake of 49% in Eólica […]
Petrobras Inks Deal To Divest Mangue Seco 3 And 4
(Petrobras, 7.Jan.2021) — Petrobras, following up on the release disclosed on 12 June 2020, informs that it signed today with V2I Transmissão de Energia Elétrica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the joint sale with Wobben Windpower Indústria e Comércio Ltda (Wobben) of […]
Petrobras Reports Record Production In 2020
(Petrobras, 7.Jan.2021) — Petrobras registered records in its 2020 annual oil production and total annual production (oil and gas) of, respectively, 2.28 million barrels per day (bpd) of oil and 2.84 million barrels of oil equivalent per day (boed). The previous records occurred in 2015 and were 2.23 million bpd […]
Pompeo On Win-Win Solutions, Capital Storming
(Energy Analytics Institute, 6.Jan.2021) — US Secretary of State Michael Pompeo comments on win-win mineral solutions in certain countries from DRC to Brazil as well as other issues related to US LNG and the violent storming of the US Capital building in Washington, DC by supports loyal to outgoing US […]
Petrobras Comments On IESA Oleo e Gas Case
(Petrobras, 4.Jan.2021) — Petrobras informs that an arbitral panel seated in New York, has issued an award in an arbitration initiated by IESA Óleo e Gás S.A. determining the payment of approximately $37mn, plus interest, by its wholly-owned subsidiary Petrobras Netherlands B.V. (PNBV) and the payment of approximately $33mn, plus […]
Brazil Eyes Oil Industry Reforms To Lure Investors
(S&P Global, 31.Dec.2020) — Brazil needs to continue making important oil industry reforms in 2021 to remain as one of the world’s top destinations for investments amid heated global competition and uncertainties about the coronavirus pandemic, according to government and industry officials. The efforts will come during a period of […]
Petrobras Comments On Gaspetro’s Divestment
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on November 30, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), informs that it received on 22 December 2020 a letter from the Administrative Council for Economic Defense (CADE) in which the agency attests that the continuation of the […]
Petrobras Closes Equity Interest In Sete Brasil Group
(Petrobras, 30.Dec.2020) — Petrobras, following up on the release disclosed on 20 December 2019, informs that its Dutch subsidiary Petrobras Netherlands B.V. transferred, today, to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15% that it held in each of the […]
Petrobras On Vitol Leniency Agreement
(Petrobras, 29.Dec.2020) — Petrobras informs that it received, as of today, the amount of R$232.6mn, as a result of a leniency agreement entered into between the Federal Prosecutor’s Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the […]
Petrobras On Transpetro Share Capital Reduction
(Petrobras, 29.Dec.2020) — Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$557,020,835.82 (around $107.2mn), in an Extraordinary General Meeting of Transpetro. The capital reduction was made at book value, with no change […]
Petrobras Starts Arbitration Against Odebrecht
(Petrobras, 28.Dec.2020) — Petrobras presented today a request for arbitration with an indemnity claim estimated at approximately R$800mn, against Odebrecht S.A., based on the shareholders’ agreement regarding Braskem, for violations of its terms. Braskem is not part of this arbitration, which is protected by confidentiality. __________
SBM Offshore Extends Lease For FPSO Espirito Santo
(SBM Offshore N.V., 23.Dec.2020) — SBM Offshore reports a contractual lease extension for FPSO Espirito Santo in Brazil and expects a potential increase in the lease duration for FPSOs in Guyana. SBM Offshore will present an updated pro-forma backlog, taking into account the most recent developments, along with its Full […]
Petrobras Inks Deal To Sell Onshore Fields In Bahia
(Petrobras, 23.Dec.2020) — Petrobras informs that it signed today with Petrorecôncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia. The sale value is $30mn, being (i) $4mn paid on the present date; […]
Petrobras Concludes Redemption Of Global Notes
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 18 December 2020, announced its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) concluded today the financial settlement of the early redemption of the 3.750% Global Notes, 5.375% Global Notes and 8.375% Global Notes, maturing in 2021, and of the […]
Petrobras Starts Bahia Terra Cluster Non-binding Phase
(Petrobras, 23.Dec.2020) — Petrobras, following up on the release disclosed on 4 November 2020, informs the beginning of the non-binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, with integrated facilities, located in the Recôncavo and Tucano Basins, in […]
Petrobras On New Contracts With Braskem
(Petrobras, 22.Dec.2020) — Petrobras informs that it has signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of São Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in […]
Petrobras Confirms Oil At Buzios Well
(Petrobras, 22.Dec.2020) — Petrobras confirmed oil of excellent quality with the drilling of well 9-BUZ-48D-RJS, located in the extreme northwest of Búzios field in the Santos Basin. The well is located 188 km from the city of Rio de Janeiro and was drilled at a water depth of 1,850 meters. […]
Petrobras Inks New Supply Deal With Braskem
(Petrobras, 22.Dec.2020) — Petrobras signed new long-term contracts with Braskem S.A. to supply petrochemical naphtha to the industrial unit in the state of São Paulo and to supply ethane and propane to the industrial unit in the state of Rio de Janeiro. The naphtha contract, in the estimated amount of […]
PetroRio Reveals Long-Term Financing With Prisma
(PetroRio, 21.Dec.2020) — PetroRio S.A., in accordance with best corporate governance practices and transparency, and in order to maintain informational equity in view of the possible share offering disclosed in the Material Fact of 15 December 2020, informs its shareholders and the market in general about recent events of the […]
PetroRio Buys Ventura’s Atlantic Zephyr Rig For $1
(PetroRio, 21.Dec.2020) — PetroRio signed an agreement with Ventura for the acquisition, for $1 (one US Dollar), of the Atlantic Zephyr rig, a semi-submersible anchored rig suitable for interventions and completions in wells with water depths up to 300m. This acquisition’s purpose is to reduce operational costs and increase the […]
Petrobras Receives “Dragon” Supercomputer
(Petrobras, 21.Dec.2020) — Petrobras started to receive the equipment that compose the supercomputer called “Dragon”, a high performance computer aiming at a greater geophysical processing performance, reducing geological and operational risks. Petrobras has increased investment in high-performance computers and, in less than two years, it has put into production nine […]
ANP Board Agrees To Maintain Covid-19 Protocols
(Energy Analytics Institute, 18.Dec.2020) — The ANP Board approved on 17 December 2020 a resolution to maintain temporary safety measures and protocols to deal with the emergency that has arisen from the Covid-19 pandemic, the agency said in an official statement. The new regulation will establish deadlines and procedures to […]
PBio Completes Sale Of BSBios Shares
(Petrobras, 18.Dec.2020) — Petrobras, following up on the press release disclosed on 27 April 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio), as part of the competitive process, has concluded the negotiation phase with the company RP Participações em Biocombustíveis S.A. for the sale of all its shares […]
Petrobras On Deal In Arbitration Of Sete Brasil
(Petrobras, 17.Dec.2020) — Petrobras informs that, on this date, the payment of R$190mn was made to the Pension Fund of the Employees of the Bank of Brazil – Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain compensation from Petrobras for alleged […]
Brazil Removes 32 Sensitive, Offshore Blocks From Round
(S&P Global Platts, 11.Dec.2020) — Brazil’s National Energy Policy Council, or CNPE, dealt a sharp blow to the country’s offshore exploration and production program by removing 32 high potential but environmentally sensitive offshore blocks from the upcoming 17th bid round during the policymaking board’s Dec. 9 meeting. The removal of […]
Petrobras Inks Deal To Divest Onshore Sergipe Field
(Petrobras, 11.Dec.2020) — Petrobras, following up on the release disclosed on 01/03/20, informs that it signed today with Energizzi Energias do Brasil Ltda a contract for the sale of its entire stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe. The […]
Petrobras Starts Marlim Cluster Non-binding Phase
(Petrobras, 10.Dec.2020) — Petrobras, following up on the release disclosed on 16 November 2020, informs the beginning of the non-binding phase regarding the sale of 50% of its stakes in the concessions of Marlim, Voador, East Marlim and South Marlim, together called the Marlim Cluster, located predominantly in deep waters […]
Petrobras Eyes Dividend Payment For 2019
(Petrobras, 10.Dec.2020) — Petrobras informs it will pay, on Tuesday, 15 December 2020, dividends referred to the 2019 fiscal year, based on shareholding position as of 22 July, in connection to the Material Fact released on that date. The dividends to be paid will be adjusted by Selic interest rate […]