(Petrobras, 8.Aug.2019) — Petrobras reports that its subsidiary Petrobras BiocombustĂveis S.A. (PBIO) signed today a contract to sell its 50% stake in Belem Bioenergia Brasil (BBB) to Galp Bioenergy B.V., which holds the other 50% stake in the company. BBB was established in 2011 by Petrobras and Galp for the […]
Category: Brazil
Brazil energy
Brazil Market Reform Unlocks Investments
(WoodMac, 6.Aug.2019) — Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, and boost investment in the country’s pre-salt. Last month, the National Council for Energy Policy (CNPE) unveiled its roadmap for […]
Pre-salt E&P May See Spending Boost
(WoodMac, 6.Aug.2019) — Brazil’s natural gas market reforms have taken a major step forward, with plans in place which are set to open up opportunities across the gas value chain, and boost investment in the country’s pre-salt. Last month, the National Council for Energy Policy (CNPE) unveiled its roadmap for […]
Petrobras Starts Phase To Sale EspĂrito Santo Assets
(Petrobras, 5.Aug.2019) — Petrobras, following up on the release dated 07/05/2019, informs the beginning of the binding phase related to the sale of all its stakes in the Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the EspĂrito Santo Basin. Qualified parties […]
Brazil To Reduce Natgas Imports From Bolivia
(Merco Press, 5.Aug.2019) — The Brazilian oil company Petrobras has announced that in the coming months it will reduce its imports of Bolivian natural gas, which it still considers to be essential nonetheless. “We are negotiating a new contract with Bolivia to reduce imports,” said Petrobras CEO Roberto Castello Branco, […]
Petrobras Approves Revision Of LPG Pricing Policy
(Petrobras, 5.Aug.2019) — Petrobras reports that its Executive Board has approved revision of its LPG pricing policy for residential use, sold for bottling in cylinders of up to 13 kg, including smaller capacity cylinders, such as 5 kg and 8 kg, which meet the demand for lower volumes. Prices charged […]
Brazil Sees Oil Output Shrink Over Three Months
(The Rio Times, Richard Mann, 3.Aug.2019) — Oil production in the country dropped 6.4 percent from May to June after rising in the first months of the current year. According to data from the National Oil, Natural Gas, and Biofuels Agency (ANP), 2.557 million barrels of oil were produced in […]
Petrobras Gets R$1.275bn Advance From Eletrobras
(Petrobras, 2.Aug.2019) — Petrobras informs that today Centrais ElĂ©tricas Brasileiras S.A. – Eletrobras settled in advance R$ 1.275 billion of the outstanding balance of the Debt Assumption Agreement signed on December 3, 2018. With this payment, the remaining outstanding balance of all Debt Assumption Agreements that Petrobras holds against Eletrobras […]
Petrobras Reports Production Boost
(Reuters, Gram Slattery and Marta Nogueira, 2.Aug.2019) — Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it ramped up production in the promising offshore “pre-salt” region. In a presentation to discuss quarterly results, Petrobras said it produced […]
Petrobras Approves Pmt Of Shareholder Remuneration
(Petrobras, 1.Aug.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,608,840,252.20, corresponding to R$ 0.20 per outstanding common and preferred share. The payment will be made […]
Petrobras Closes BR’s Public Offering For $9.6 Billion
(Petrobras, 29.Jul.2019) — Petrobras announces the closing, on this date, of the secondary public offering of 393,187,500 common shares issued by Petrobras Distribuidora S.A (“BR”) and held by Petrobras (“Shares” and “Offer”), in the total amount of R$ 9,633,093,750.00. The value of the Offer already includes the full exercise of […]
Odebrecht Inks Post-‘Car Wash’ Deal With Petrobras
(Reuters, Marta Nogueira and Gram Slattery, 29.Jul.2019) — Brazil’s Petrobras has signed a two-year contract to lease a drilling rig from Ocyan, formerly known as Odebrecht Oleo e Gas, an executive told Reuters, in the first deal between the firms since a corruption scandal erupted five years ago. Petroleo Brasileiro […]
Petrobras Reports 3.8% Rise In 2Q:19 Oil, Gas Output
(Reuters, 26.Jul.2019) — Brazil’s state oil firm Petroleo Brasileiro SA said on Friday total second-quarter oil and gas production was 2.633 million barrels per day of oil equivalent, up 3.8% from the previous quarter. Petrobras said in a securities filing the rise was driven by the ramp up of pre-salt […]
Petrobras Reports Modest Output Growth
(Reuters, Ana Mano and Gram Slattery, 26.Jul.2019) — Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade. In an early Friday securities filing, Petrobras, as the firm […]
Petrobras Expects Final Offers For Liquigás By Aug. 7
(Reuters, Gabriel Araujo, 25.Jul.2019) — Brazil’s state-run oil company PetrĂłleo Brasileiro SA expects to privatize natural gas distribution unit Liquigás next month as part of a broader divestment program, Chief Executive Roberto Castello Branco said on Thursday. Final binding offers for Liquigás are due by Aug. 7, Castello Branco told […]
Petrobras Receives Over $100mn Via Recovered Assets
(Reuters, 25.Jul.2019) — Brazilian state-run Petrobras this week received 425 million reais ($112 million) as a result of leniency deals and recovered assets from parties involved in the country’s sprawling “Car Wash” corruption investigation, the oil firm said on Thursday. With the funds, Petroleo Brasileiro SA, as the firm is […]
Karoon Eyes Output Boost After Grabbing Field
(Reuters, Marta Nogueira, 25.Jul.2019) — Karoon Energy Ltd aims to boost production by more than 60% at an oilfield it is purchasing from Petroleo Brasileiro SA, as the independent Australian firm dramatically expands its operations in Brazil, an executive said on Thursday. Petrobras, as the Brazilian state-run oil firm is […]
Petrobras CEO Says Liquigás To Be Privatized in August
(Reuters, 25.Jul.2019) — Roberto Castello Branco, chief executive of state oil company PetrĂłleo Brasileiro SA, said during an event on Thursday that Liquigás is the next unit that the Brazilian oil major intends to divest. After selling 33.75% of fuel distribution subsidiary Petrobras Distribuidora SA through a share offering this […]
Petrobras Reports On BR Shares Purchase Option
(Petrobras, 25.Jul.2019) — Petrobras, pursuant to article 24 of CVM Instruction 400 of December 29, 2003, as amended, reports that today the over allotment option (“Greenshoe Option”) was fully exercised under the secondary public offering of shares issued by Petrobras Distribuidora SA (“BR”) and held by Petrobras. With the exercise […]
Petrobras Starts Phase For Sale Of Bahia Fields
(Petrobras, 25.Jul.2019) — Petrobras, following up on the release dated 07/08/2019, announces the beginning of the non-binding phase related to the sale of all its stakes in four onshore fields, located in Bahia, jointly known as Tucano Sul Cluster. Parties qualified for this phase will receive instructions on the divestment […]
Petrobras Receives R$425mn For Leniency Agreements
(Petrobras, 25.Jul.2019) — Petrobras received this week R$425 million as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s Office. Thus, the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds R$ 4 billion. Such return involves: […]
Core Laboratories Sets Earnings Call Schedule
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. scheduled a conference call to discuss Core’s second quarter 2019 earnings announcement. The call will begin at 7:30 a.m. CDT / 2:30 p.m. CEST on Thursday, 25 July 2019. To listen to the call, please go to Core’s website at www.corelab.com. ***
Petrobras Signs $1.5bn Deals To Sale Shallow Water Assets
(Petrobras, 24.Jul.2019) — Petrobras announces that today it signed two contracts for the sale of upstream assets in shallow waters in Campos and Santos Basins, in the total amount of US$ 1.5 billion (about R$ 5.7 billion). The transactions refer to: (i) the sale of 100% of its interest in […]
Petrobras Informs CARF’s Decision Related To CIDE
(Petrobras, 24.Jul.2019) — Petrobras said the Administrative Board of Tax Appeals (CARF) issued today an unfavorable decision on an administrative tax proceeding which deals with the collection of CIDE – Import tax regarding remittances abroad for the payment of charter contracts in the calendar year of 2010, in the approximate […]
Petrobras Signs Shallow Water Deals For $1.5bn
(Petrobras, 24.Jul.2019) — Petrobras signed two contracts for the sale of upstream assets in shallow waters in Campos and Santos Basins, in the total amount of US$ 1.5 billion (about R$ 5.7 billion). The transactions refer to: (i) the sale of 100% of its interest in the Pampo and Enchova […]
Core Lab Reports 2Q:19 Results
(Core Laboratories, 24.Jul.2019) — Core Laboratories N.V. reported that continuing operations resulted in second quarter 2019 revenue of $169,000,000. Second quarter 2019 revenue was impacted by a mid-quarter divestment of a non-strategic business in Asia Pacific and a softer than expected North American services market. Core’s operating income was $28,000,000 […]
Big Splash for Deep Blue in Brazil
(TechnipFMC, 23.Jul.2019) — The Deep Blue is making a big splash in Brazil. TechnipFMC’s flagship deepwater pipelay and construction vessel is embarking on a major subsea project laying pipeline on the Peregrino Phase 2 Project in the Campos Basin offshore Brazil. Deep Blue will install rigid and flexible pipelines as […]
Petrobras Informs CARF’s Charter Contracts Decision
(Petrobras, 23.Jul.2019) — Petrobras reports that the Administrative Board of Tax Appeals (CARF) issued today an unfavorable decision on an administrative tax proceeding in the amount of about R$ 5.22 billion, which deals with the collection of PIS/COFINS – Import tax regarding remittances abroad for the payment of charter contracts […]
Petrobras Approves Debentures Public Offering
(Petrobras, 23.Jul.2019) — Petrobras, in compliance with the provisions of Instruction no. 358 of January 3, 2002, issued by the Securities and Exchange Commission of Brazil (“CVM”), hereby informs that the Board of Directors, in a meeting held today, approved the 7th (seventh) issuance of simple, non-convertible unsecured debentures (“Debentures”), […]
Petrobras Prices Offering Of Petrobras Distribuidora (BR)
(Petrobras, 23.Jul.2019) — Petrobras announced today the pricing of the secondary public offering of shares of Petrobras Distribuidora S.A. Petrobras’s Board of Directors approved today the sale of 349,500,000sharesin BR Distribuidora, including 58,250,000 additional shares as part of Petrobras’s option to increase the base offer by 20%. The offer priced […]
BP And Bunge To Create Bioenergy Company
(Bunge, 22.Jul.2019) — Bunge Limited announced an agreement with BP plc to form a 50:50 joint venture that will create a leading bioenergy company (the “joint venture”) in Brazil, one of the world’s largest fast-growing markets for biofuels. Bunge will receive cash proceeds of $775 million in the transaction, comprising […]
Constellation Reports New Contract Awards In Brazil
(Constellation, 22.Jul.2019) — Constellation Oil Services Holding S.A. announced three of the Company’s ultra-deepwater (UDW) rigs, Alpha Star, Gold Star, and Lone Star, have been awarded new firm contracts with Petrobras S.A. for two years. The drilling activities will be performed offshore of Brazil and operations under each contract is […]
Fallout From Sweet Oil Deal For Venezuela’s Neighbors
(NPR, 20.Jul.2019) — It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]
Petrobras Reports On Bidding To Acquire Pampo And Enchova Poles
(Petrobras, 19.Jul.2019) — Petrobras informs that in the scope of the bidding process for total disinvestment of Petrobras’ interests in Pampo and Enchova Poles in Campos Basin, Trident Energy has delivered the best final bid for assets acquisition. Regarding media reports about this operation, the Company clarifies that the price […]
Petrobras Clarifies Fuel Supply For Iranian Vessels
(Petrobras, 19.Jul.2019) — Petrobras clarifies media reports related to the supply of fuel to two Iranian vessels. Petrobras did not provide fuel to the exporting company because the Iranian vessels it contracted and the Iranian company that owns those vessels are sanctioned by the United States and are listed in […]
Brazil Approves Transfer Of Saturno Stake To Ecopetrol
(Ecopetrol, 18.Jul.2019) — Ecopetrol S.A. said the Ministry of Mines and Energy of Brazil has authorized the transfer of a 10% stake in the Saturno block, located in the Santos basin, to its subsidiary, Ecopetrol Ă“leo e Gas Brasil. Previously, this percentage was equally held by Shell Brasil PetrĂłleo Ltda […]
Petrobras Sets Release Dates For 2Q:19 Results
(Petrobras, 16.Jul.2019) — Petrobras, focusing on providing greater transparency in its information, reports that as from this quarter, it will disclose the production and sales report prior to the company’s financial statements report. On July 25th, after market closes, the company will release its quarterly production and sales report for […]
Petrobras Announces Early Tender Results
(Petrobras, 16.Jul.2019) — Petrobras announced the early results of its previously announced debt tender offers (the “Waterfall Offers”). As of 5:00 p.m., New York City time, on July 15, 2019 (the “Early Tender Deadline”) holders of US$1,790,166,000 principal amount of the outstanding notes of the series set forth in the […]
Petrobras Starts Non-Binding Phase Asset Sales In Brazil
(Petrobras, 15.Jul.2019) — Petrobras, following up on the release dated 06/28/2019, announces the beginning of the non-binding phase related to the first phase of the sale of assets in downstream and associated logistics in Brazil, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, […]
Petrobras Announces BaĂşna Field Sale Offer
(Petrobras, 15.Jul.2019) — Petrobras informs that in the scope of the competitive sale process for the sale of its entire stake in BaĂşna field (concession area BM-S-40), located in shallow waters in the Santos basin, Karoon PetrĂłleo & Gás Ltda. presented the best proposal. However, in relation to the news […]
Petrobras Reports Naming Of BODs Members
(Petrobras, 15.Jul.2019) — Petrobras reports that its Board of Directors approved the appointment of Mr. Walter Mendes de Oliveira Filho for the position of member of the company’s Board of Directors. The election of Mr. Walter Mendes will be submitted to the next General Shareholders’ Meeting of Petrobras, called for […]
Brazil Gas Plan Seen Luring Naturgy, Engie, Others
(Reuters, 15.Jul.2019) — Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil’s Cosan SA and Spain’s Naturgy Energy Group SA, are among the companies potentially interested […]
Bolivia Strikes Gas Deal Russian Giant In Brazil
(Reuters, 11.Jul.2019) — Bolivia’s state energy firm has sealed a deal to supply gas to Russian fertilizer giant Acron’s plants in Brazil, the two sides said on Thursday, opening up a potentially important new market for the landlocked South American country. Bolivian state-owned YPFB agreed the sale of 2.2 million […]
Valerie Bosse To Head Wintershall Dea In Brazil
(Wintershall, 9.Jul.2019) — Change at the top of Wintershall Dea in Brazil: Valerie Bosse is the new Managing Director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country. On 30 April 2019, the two German companies Wintershall Holding GmbH […]
Petrobras Announces Tender Offers Expiration Date
(Petrobras, 8.Jul.2019) — Petrobras announced the expiration and expiration date results of the previously announced offers to purchase by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF), of any and all of its outstanding notes set forth in the table below (the “Notes”). The Offers were made pursuant to the […]
Petrobras And CADE Ink Natgas Market Deal
(Petrobras, 8.Jul.2019) — Petrobras reports that it signed an Agreement with the Administrative Council for Economic Defense (CADE), which consolidates understandings between the parties on the promotion of competition in the natural gas industry in Brazil, including the sale of shareholdings in companies operating thereof. The purpose of the Agreement […]
Petrobras Chief Governance, Compliance Officer Resigns
(Petrobras, 5.Jul.2019) — Petrobras informs that its Chief Governance and Compliance Executive Officer, Rafael Mendes Gomes, presented his resignation from the position, for personal reasons. Petrobras will initiate a selection process to choose the new Officer who, according to the company’s governance rules, must be elected by the Board of […]
Petrobras Clarifies On Liquigás Divestment
(Petrobras, 5.Jul.2019) — Petrobras, in relation to the news published in the media, regarding the sale of Liquigás Distribuidora SA, clarifies that this divestment project is in the binding phase, as disclosed to the market in June 20, 2019. In the previous phase of the project, Petrobras received non-binding offers, […]
Petrobras Starts Teaser For Espirito Santo E&P Assets
(Petrobras, 5.Jul.2019) — Petrobras started the opportunity disclosure stage (teaser), related to the sale of its entire working interest in Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the EspĂrito anto Basin, including the shared outflow and production offshore facilities and the […]
Petrobras Informs Of Capital Interest Payment
(Petrobras, 5.Jul.2019) — Petrobras informs that in connection to the press released of May 7th, 2019 that it is paying today Interest on Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The gross value to be distributed, totaling R$ 1,304,420,126.10, corresponds to a gross amount of […]