(Petrobras, 14.Aug.2020) — Petrobras, following up on the press release disclosed on 15 June 2020, announces the beginning of the binding phase regarding the sale of four thermal power plants, three of which are located in Camaçari, in the state of Bahia and powered by fuel oil (UTEs Polo Camaçari), […]
Category: Brazil
Brazil energy
Petrobras Inks Charter Deal For Mero 3 FPSO
(Petrobras, 14.Aug.2020) — Petrobras signed a letter of intent with the company MISC Berhad for the chartering and services for FPSO (floating production storage and offloading unit) Marechal Duque de Caxias to be installed in the Mero field, belonging to the Libra Block, in Santos Basin pre-salt, as part of […]
PPSA Sale Plan Stokes Oil Contract Debate
(Argus, 12.Aug.2020) — The Brazilian government’s plan to sell state-owned pre-salt marketing company PPSA has stalled amid congressional foot-dragging over a change in pre-salt contract terms. Addressing reporters late yesterday, influential economy minister Paulo Guedes confirmed that the delay in selling the firm contributed to the departure of secretary Salim […]
Petrobras Releases Santos Basin Teaser
(Petrobras, 10.Aug.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of 50% to 100% of its stake in the BM-S-51 concession with hand-over the operation, located in the Santos Basin, in the pre-salt polygon. The concession is located at water depths ranging […]
Petrobras Comments On Record Diesel, Asphalt Sales
(Petrobras, 7.Aug.2020) — Petrobras achieved record sales for the S-10 Diesel in the Brazilian market. The Company sold 1.78 million mÂł, 12.7% higher than the previous record in July 2019, when sales reached 1.58 million mÂł. The sales record for the S-10 Diesel reflects the rapid commercial actions implemented to […]
Petrobras On Mothballing Of The Merluza Platform
(Petrobras, 7.Aug.2020) — Petrobras’ Executive Board approved the mothballing of the Merluza platform (PMLZ-1), located in shallow waters in the Santos Basin. The platform’s production had already been interrupted since March 2020, with the abrupt drop of demand for natural gas, and the deactivation will allow the reduction of operating […]
Petrobras Reveals Urucu Cluster Binding Phase
(Petrobras, 7.Aug.2020) — Petrobras, following up on the press release disclosed on 26 June 2020, informs the beginning of the binding phase, referring to the sale of its entire stake in a set of seven onshore production concessions (Urucu Cluster), located in the Solimões Basin, in the state of Amazonas. […]
Petrobras Starts Camamu Basin Binding Phase
(Petrobras, 7.Aug.2020) — Petrobras, following up on the release disclosed on 1 June 2020, announces the beginning of the binding phase regarding the sale of its stake (35%) in the Manati field, a shallow water offshore production located in the Camamu Basin, in the state of Bahia. Potential buyers qualified […]
Petrobras Starts Sergipe-Alagoas Basin Binding Phase
(Petrobras, 7.Aug.2020) — Petrobras, following up on the press release disclosed on 29 June 2020, informs the beginning of the binding phase, referring to the sale of its entire stake in the Tartaruga field, belonging to the SES-107D concession, located in shallow waters of the Sergipe-Alagoas Basin. Potential buyers qualified […]
Petrobras Inks Deal For Onshore Field In Sergipe
(Petrobras, 5.Aug.2020) — Petrobras, following up on the release disclosed on 01/03/2020, signed today with Centro Oeste Ă“leo e Gás Ltda. an agreement for the sale of its entire stake in the DĂł-RĂ©-Mi onshore field, located in the Sergipe-Alagoas Basin, in the state of Sergipe. The sale value is $37,600, […]
Petrobras Reports Record July BĂşzios Production
(Petrobras, 5.Aug.2020) — Petrobras reports platforms (P-74, P-75, P-76 and P-77) installed in the BĂşzios field, in the Santos Basin pre-salt, reached new monthly production records in July, of 615,000 barrels of oil per day (bpd) and 765,000 barrels of oil equivalent per day (boed). The BĂşzios field, discovered in […]
Petrobras Comments On Previ Case
(Petrobras, 4.Aug.2020) — Petrobras, further to the notices to the market dated 22 June 2020 and 21 July 2020, hereby announces that the 1st Business Court, which deals with Conflicts related to Arbitration of SĂŁo Paulo has extinguished the action for specification of judicial mortgage filed by Caixa de PrevidĂŞncia […]
Petrobras Starts PBIO Non-Binding Phase
(Petrobras, 3.Aug.2020) — Petrobras, following up on the press release disclosed on 3 July 2020, informs the beginning of the non-binding phase regarding the sale of its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBIO). Qualified parties for this phase will receive a process letter with detailed information about the aforementioned company, […]
Petrobras Reveals Details Of Bahia LNG Terminal Lease
(Petrobras, 3.Aug.2020) — Petrobras, in accordance with the commitments made through the Agreement signed with the Administrative Council for Economic Defense (CADE), on 8 July 2019, and following up on the release dated 9 December 2019, informs it published today the Bidding Process Call for the leasing of the LNG […]
Petrobras 2Q:20 Earnings Call Transcript
(The Motley Fool, 1.Aug.2020) — Petrobras’s earnings call for the period ending 30 June 2020. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning ladies and gentlemen. Welcome to Petrobras Webcast with Analysts and Investors about the Second Quarter 2020 Results. We would like to inform […]
Petrobras: Message From CEO Roberto Castello Branco
(Petrobras, 31.Jul.2020) — Brazil state oil and gas company Petrobras reported financial and operational results for the second quarter of 2020. The company’s Chief Executive Officer Roberto Castello Branco had this to say before the company’s conference call. Dear Shareholders, I am glad to be able to tell you that […]
Petrobras Expects To Seal Refinery Sale To Mubadala
(Reuters 31.Jul.2020) — Brazilian state-run oil firm Petroleo Brasileiro SA expects to conclude unilateral negotiations regarding the sale of its RLAM refinery in northeastern Brazil within “one or two months,” Chief Executive Roberto Castello Branco said on Friday. Abu Dhabi’s investment fund Mubadala Investment Co is in exclusive negotiations with […]
Petrobras To Sale Tayrona Block Offshore Colombia
(Petrobras, 27.Jul.2020) — Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of its entire stake in the exploratory portion of the Tayrona Block, located in the Guajira Basin, Colombia. The teaser, which includes key information about the opportunity, as well as the eligibility criteria […]
Petrobras Makes $3.5bn Prepayment On Credit Lines
(Petrobras, 27.Jul.2020) — Petrobras, following up on the press release on 03/20/2020, informs that, as of today, it has made the partial prepayment of its Revolving Credit Lines, in the amount of US$ 3.5 billion. These resources will be available for new withdrawals, if necessary. “The US$ 8 billion withdrawal […]
Petrobras Begins Contracting For 3 BĂşzios Field FPSOs
(Petrobras, 24.Jul.2020) — Petrobras’ Executive Board approved the beginning of the contracting processes for three new Floating Production Storage and Offloading (FPSOs) platforms for the BĂşzios field, in the Santos Basin pre-salt. The three new units are part of the Asset Development Plan, which envisages a total of twelve units […]
Petrobras Approves Dividends Payment
(Petrobras, 22.Jul.2020) — Petrobras informs that, in a meeting held today, the Annual General Meeting approved dividends to shareholders in the amount of R$ 1.7 billion for common shares (R$ 0.233649 per share) and R$ 2.5 million for preferred shares (R$ 0.000449 per share) outstanding, based on the 2019 annual […]
Petrobras On VAT Tax In PIS/COFINS Calculation Basis
(Petrobras, 21.Jul.2020) — Petrobras informs that it has obtained a favorable and final decision from the Federal Regional Court of the 2nd Region in process that seeks to recover the PIS and COFINS contributions overpaid due to the inclusion of VAT tax (ICMS) in the calculation basis from October 2001 […]
Petrobras Concludes Divestment Of TAG
(Petrobras, 20.Jul.2020) — Petrobras, following up on the press release on 13 March 2020, entered into a share purchase and sale agreement, regarding its remaining 10% interest in Transportadora Associada de Gás S.A. (TAG), with the group formed by ENGIE and Caisse de dĂ©pĂ´t et placement du QuĂ©bec (CDPQ). The […]
Petrobras On Cumulative Vote Process For AGM
(Petrobras, 17.Jul.2020) — Petrobras, in compliance with article 30, item XXXIV of CVM Instruction 480/09, informs that it received from shareholders who jointly hold more than 5% (five percent) of its common shares, the request to adopt the cumulative vote system in the election of candidates to the Board of […]
Petrobras Informs On Vantage Arbitration Case
(Petrobras, 17.Jul.2020) — Petrobras, following up on the releases disclosed on 17 May 2019 and 21 June 2019, informs that, yesterday, the United States Court of Appeals for the Fifth Circuit dismissed the appeal filed by the company against the decision rendered by the Federal Court of Texas, on 05/17/2019, […]
Petrobras On OGCI’s Carbon Reduction Target
(Petrobras, 16.Jul.2020) — Petrobras informs that the Oil and Gas Climate Initiative (OGCI), an organization which Petrobras is a member, established a new collective target to reduce the carbon intensity of upstream operations. The new collective target sets an intensity between 20 kg and 21 kg CO2 for each barrel […]
Ibitu Energia Plans $830mn In Renewable Investments
(Reuters, 15.Jul.2020) — Brazil’s Ibitu Energia, owned by U.S.-based asset manager Castlelake LP, plans to invest roughly 4.5 billion reais ($839.43 million) in renewable energy assets in the coming five years, the firm’s chief executive said in a statement on Wednesday. The commitment comes after Castlelake reached an agreement with […]
Petrobras Divests Ponta Do Mel And Redonda Fields
(Petrobras, 15.Jul.2020) — Petrobras, following up on the release disclosed on 30 September 2019, informs that it has finalized today the sale of its entire participation in two onshore production fields (Ponta do Mel and Redonda), located in the Potiguar Basin, in the state of Rio Grande do Norte, to […]
Petrobras On Production Record In BĂşzios
(Petrobras, 14.Jul.2020) — Petrobras reports that the platforms installed in the BĂşzios field (P-74, P-75, P-76 and P-77), in the Santos Basin pre-salt, reached new production records yesterday, of 674,000 barrels of oil per day (bpd) and 844,000 barrels of oil equivalent per day (boed). The BĂşzios field, discovered in […]
Petrobras Concludes Renewable Diesel Tests
(Petrobras, 14.Jul.2020) — Petrobras informs that, on July 11th, it successfully concluded tests on an industrial scale for the production of renewable diesel. The tests were conducted at the Presidente GetĂşlio Vargas Refinery (Repar), in Araucária, Paraná, where 2 million liters of soybean oil were processed, which resulted in the […]
Petrobras Reduces Cost Of Post-salt Well Construction
(Petrobras, 14.Jul.2020) — Petrobras informs that in early July, it completed, in half the time, the construction of the 7 GLF 49H ESS offshore well, in the Golfinho field, in the EspĂrito Santo Basin, 100 km from VitĂłria. This was the first post-salt well built with the application of the […]
Petrobras On Asphalt Sale By Reduc
(Petrobras, 13.Jul.2020) — Petrobras reports that its refinery in Duque de Caxias (Reduc), located in Rio de Janeiro, reached the mark of 16,773 tons of asphalt sold in June 2020, an increase of 42.5% compared to May and 120.8% compared to the same month of the previous year. This is […]
Petrobras On Measures In Aviation Gasoline
(Petrobras, 11.Jul.2020) — Petrobras informs that it has decided, preventively, to interrupt supplying a specific imported batch of aviation gasoline after tests carried out at its research center (Cenpes). The company identified that this batch had a different aromatic content compounds than the batches imported until then, although in accordance […]
Mubadala Set For Talks With Petrobras For Bahia Refinery
(Reuters, 10.Jul.2020) — Abu Dhabi’s investment fund Mubadala Investment Co will enter into exclusive talks with Petrobras to purchase Brazil’s second-largest refinery, the Brazilian state-owned oil company said in a securities filing on Thursday. Reuters was the first to report earlier on Thursday that Mubadala was on an inside track […]
BW Offshore Mulls Bids For Golfinho Field In Brazil
(Reuters, 10.Jul.2020) — Norway’s BW Offshore Ltd and DBO Energy are among the firms mulling a bid for Petrobras’ Golfinho oilfield cluster, two sources said, as Brazil’s state-run oil company seeks to re-spark its asset sale program in the wake of this year’s crude price crash. With average daily production […]
Petrobras BiocombustĂvel To Divest Stake In BambuĂ
(Petrobras, 10.Jul.2020) — Petrobras, following up on the release disclosed on 07/03/2020, informs that its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBIO) signed an agreement for the sale of its 8.40% stake in the company BambuĂ Bioenergia S.A. (BambuĂ) to Turdus Participações S.A., which holds the other 91.60% stake in the […]
Petrobras Starts Gaspetro’s Binding Phase
(Petrobras, 10.Jul.2020) — Petrobras, following up on the press release disclosed on 15 May 2020, announces the beginning of the binding phase regarding the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro). Qualified parties for this phase will receive a process letter with detailed instructions on the […]
Petrobras On RLAM Refinery Divestment
(Petrobras, 9.Jul.2020) — Petrobras, regarding to the news published in the media, referring to the divestment of the Landulpho Alves Refinery (RLAM), clarifies that there was approval by the company’s internal bodies to start the negotiation phase of the applicable contracts and the Mubadala Investment Company (Mubadala) presented the best […]
Petrobras Inks Deal For Shallow Water Field Sales
(Petrobras, 9.Jul.2020) — Petrobras signed with OP Pescada Ă“leo e Gás Ltda., a wholly-owned subsidiary of Ouro Preto Ă“leo e Gás S.A., an agreement for the sale of its entire stake in the Pescada, Arabaiana, and DentĂŁo fields located in shallow waters of the Potiguar Basin (Pescada Cluster), in the […]
Petrobras Reports Record Bunker 2020 Output
(Petrobras, 8.Jul.2020) — Petrobras informs that the PaulĂnia Refinery (Replan), located in the state of SĂŁo Paulo, broke the monthly production record for Bunker 2020, a low-sulfur fuel oil used on ships, for the second consecutive month. In June, the refinery reached 148 thousand mÂł, 20% higher than the previous […]
Petrobras To Open Tender For Brazil’s Biggest Platform
(Reuters, 8.Jul.2020) — Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally […]
Petrobras Decommissions P-12 Platform
(Petrobras, 7.Jul.2020) — Petrobras informs that, after approval by the National Agency for Petroleum, Natural Gas and Biofuels (ANP), the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) and the Navy, it started decommissioning the P-12 platform in the Campos Basin. Decommissioning of P-07 and P-15 in the […]
Cosan Claims Reorganization May Entail Capitalization
(Reuters, 7.Jul.2020) — Brazilian energy company Cosan SA said its planned reorganization may involve the capitalization of all operating units controlled and co-controlled by the group. In a securities filing on Tuesday, Cosan said the viability of the potential capitalizations of each of the units will be weighed separately and […]
Petrobras Eyes Braskem Deal With Odebrecht
(Reuters, 6.Jul.2020) — Brazilian state-led oil company Petrobras expects within six months to reach an understanding with engineering group Odebrecht on a new shareholder agreement for petrochemical company Braskem SA , the oil firm’s CEO said Monday. Roberto Castello Branco, chief executive of Petroleo Brasileiro SA, as the company is […]
Petrobras Eyes LNG Units For Pre-salt Gas
(Reuters, 3.Jul.2020) — Brazilian state-controlled oil company Petrobras is considering installing offshore units to liquefy the growing natural gas production from the so-called pre-salt area, the company’s emissions and climate change manager said during a webinar on Friday. Liquefied natural gas units could be an alternative for the gas associated […]
Petrobras Begins NTS Binding Phase
(Petrobras, 3.Jul.2020) — Petrobras, following up on the press release disclosed on 15 May 2020, announces the beginning of the binding phase regarding the sale of its 10% remaining stake in Nova Transportadora do Sudeste S.A. (NTS). Potential buyers qualified for this phase will receive a process letter with detailed […]
Petrobras’ Teaser For Sale Of Petrobras BiocombustĂvel
(Petrobras, 3.Jul.2020) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of its wholly-owned subsidiary Petrobras BiocombustĂvel S.A. (PBIO). This transaction consists of the sale of 100% of Petrobras’ shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO’s stakes in BSBios (50.0%) […]
Lawmakers Seek To Block Sale Of Petrobras’ Refineries
(Reuters, 2.Jul.2020) — Brazilian lawmakers are seeking a Supreme court injuction to prevent state-run oil company Petrobras from selling its refineries Landulpho Alves and Repar, according to documents seen by Reuters. In their request, lawmakers argue that the sale cotradicts a previous court decision ordering Petrobras to ask for the […]
Golar Power Enters Alliance With Galileo
(Galileo Technologies, 2.Jul.2020) — The Agreement was signed yesterday in Sao Paulo and will leverage Golar Power’s natural gas distribution Project, without pipelines, in the interior of Brazil. The project will also tap into new biomethane sources. Golar Power, one of the world’s largest LNG integrated companies, entered into a […]
Petrobras Supports TCFD
(Petrobras, 1.Jul.2020) — Petrobras is supporting the Task Force for Climate-related Financial Disclosures (TCFD), an initiative by the Financial Stability Board of the G20 group, which is comprised by 19 leading global economies and the European Union, with the mission of developing recommendations for the disclosure of financial risks related […]