(Reuters, Gram Slattery and Rodrigo Viga Gaier, 4.Jul.2019) — Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight […]
Category: Brazil
Brazil energy
Constellation Announces Updates Regarding RJ Plan
(Constellation, 2.Jul.2019) — Constellation Oil Services Holding S.A., filed an amended plan (the “Plan”) in its recuperação judicial (“RJ”) proceeding in Brazil on July 1, 2019. The Plan was approved by approximately 90% of its creditors in amount at the general meeting of creditors (the Assembleia Geral de Credores or […]
Former Petrobras CEO Appointed Nubank Member
(Reuters, 1.Jul.2019) — Brazilian financial startup Nubank has appointed former Petroleo Brasileiro SA’s Chief Executive Ivan Monteiro as a member of its risk committee and finance consultant, it said on Monday in a statement. Monteiro’s hiring comes at a time that Nubank is broadening its product offering beyond credit cards […]
Petrobras To Divest Refinery Assets To Trim Leverage
(Zacks, 1.Jul.2019) — In a bid to forge ahead with divestment goals, Petrobras has commenced the process of offloading four refineries namely Rnest, Rian, Repar and Refap. The move is part of a broader plan of the Brazilian oil giant to jettison eight of its refineries that constitute 50% of […]
Petrobras Commences Cash Tender Offers
(Petrobras, 1.Jul.2019) — Petrobras announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), has commenced cash tender offers to repurchase certain of its outstanding U.S.Dollar-, Euro-and Pound Sterling-denominated notes (the “Tender Offers”). Tender Offers PGF has commenced offers to purchase for cash: (1) any and all of its outstanding […]
Petrobras’ Teasers For Downstream Assets In Brazil
(Petrobras, 28.Jun.2019) — Petrobras, following up on the release issued on April 26, 2019, announces the beginning of the opportunity disclosure stage (teaser) related to the sale of refining and associated logistics assets in Brazil. The divestments account for about 50% of the national refining capacity, with a total of […]
Brazil Bets Storing Oil Will Boost China Sales
(Bloomberg, 27.Jun.2019) — Brazil is making it easier for China’s teapots to buy Lula crude as it seeks to win more market share in the world’s biggest oil importer. State-controlled Petroleo Brasileiro SA has rented offshore tanks in Qingdao in the eastern province of Shandong and delivered the first oil […]
Petrobras Prices 2nd Caixa EconĂ´mica Federal Offering
(Petrobras, 26.Jun.2019) — Petrobras announced that on June 25, 2019, it priced the global offering by Caixa EconĂ´mica Federal (the “Selling Shareholder”)of 241,340,371 common shares, without par value,of Petrobras (“Common Shares”), including 69,302,000Common Shares in the form of American Depositary Shares (“Common ADSs”). The global offering consists of (i) and […]
Petrobras Starts Non-Binding Phase For Sale Of Breitener Energética S.A.
(Petrobras, 26.Jun.2019) — Petrobras, following up on the release disclosed on 06/11/2019, announces the beginning of the non-binding phase for the sale of 93.7% of its interest in Breitener EnergĂ©tica S.A., located in the state of Amazonas. The potential investors qualified for this phase will receive instructions on the divestment […]
Petrobras’ Divestment Of Enchova And Pampo Clusters
(Petrobras, 25.Jun.2019) — Petrobras, following up on the release dated June 13, 2019, informs that it will hold a new round of final offers for the sale of Enchova and Pampo clusters, a set of producing fields located in the Campos Basin. This new round aims to clarify some rules […]
LatAmNRG Heard On The Street: Gas Markets, Argentina Tender
(Energy Analytics Institute, Aaron Simonsky and Ian Silverman, 25.Jun.2019) — Heard on the street related to the Latin America and Caribbean upstream, midstream, downstream and renewable energies sectors. ARGENTINA — During the first half of July a tender will be launched in Argentina for the construction of a new natural […]
Petrobras Starts Rio Ventura Cluster Non-Binding Phase
(Petrobras, 25.Jun.2019) — Petrobras, following up on the release disclosed on 06/03/2019, announces the beginning of the non-binding phase related to the sale of its total equity interest in eight exploration and production concessions, located in Bahia state, jointly designated as Rio Ventura Cluster. At this stage, the interested parties […]
Brazil Approves Pro-market Gas Regulations
(Argus, 25.Jun.2019) — Brazil’s national energy policy council (CNPE) approved regulations that will open the country’s natural gas market and reduce the dominant position of state-controlled Petrobras. The new regulatory framework, which was announced in April, would end Petrobras’ monopoly in gas production and distribution, with the goal of reducing […]
Brazil Approves Natgas Market Overhaul
(Reuters, 24.Jun.2019) — Brazil’s energy policy council on Monday approved a plan to overhaul the domestic natural gas market, with the country’s Mines and Energy Minister Bento Albuquerque saying that the move would bring down gas prices within two to three years. Speaking alongside Albuquerque, Economy Minister Paulo Guedes offered […]
Petrobras Updates On $700mn Vantage Payment
(Petrobras, 21.Jun.2019) — Petrobras, following up on the release of May 17, 2019, hereby informs that its subsidiaries paid today the amount of approximately US$700 million related to the decision of the United States District Court for the Southern District of Texas that denied Petrobras’ motion to vacate and recognized […]
Petrobras Starts Liquigás Binding Divestment Phase
(Petrobras, 20.Jun.2019) — Petrobras, following up on the release dated 05/10/2019, announces the beginning of the binding phase related to the sale of Liquigás Distribuidora S.A. At this stage of the project, process letters are issued to qualified interested parties with detailed instructions about the divestment process, including guidelines to […]
Petrobras Clarifies Natgas Find In Sergipe Basin
(Petrobras, 17.Jun.2019) — Petrobras, regarding the news published in the media, related the discovery of natural gas in the Sergipe Basin, clarifies that, in recent years, six deepwater discoveries have been confirmed in the Sergipe Basin: Cumbe, Barra, Farfan, MuriĂş, Moita Bonita and Poço Verde, as already disclosed to the […]
Argentina And Uruguay Scramble To Restore Power
(Reuters, Adam Jourdan and Eliana Raszewski, 16.Jun.2019) — Argentina and Uruguay were scrambling to restore power to millions of people after a massive power failure hit the Argentine grid early on Sunday, Argentina’s Energy Secretariat said. Energy company Edesur Argentina said it had restored power for 75,000 clients in the […]
Power Failure Cuts Power To All Of Argentina And Uruguay, Supplier Says
(BBC, 16.Jun.2019) — A massive electrical failure has left all of Argentina and Uruguay without power, according to a major Argentine electricity provider. Reports said the power cut had also affected parts of Brazil and Paraguay. Argentine media said the power cut occurred shortly after 07:00 (11:00 BST), causing trains […]
CBHE President: Export Volumes Don’t Determine Profitability
(Energy Analytics Institute, Aaron Simonsky, 16.Jun.2019) — An agreement signed between Bolivia and Paraguay, to carry out a study aimed at building a binational gas pipeline, is important and the volume exported doesn’t determine the profitability of a business, Bolivia’s Information Agency (ABI) reported, citing Bolivia’s Hydrocarbons and Energy Chamber […]
Brazil Cities Paralysed As Bolsonaro Faces Strike
(AFP, 14.Jun.2019) — A nationwide strike called by Brazil’s trade unions disrupted public transport and triggered road blocks in parts of the country Friday, ahead of protests against far-right President Jair Bolsonaro’s pension reform. Hours before the opening match of the Copa America in Sao Paulo, some metro lines in […]
Total, Shell, Petrobras Launch Mero 2 Project Offshore Brazil
(Chron.com, Jordan Blum, 12.Jun.2019) — The Libra Consortium led by Petrobras, Royal Dutch Shell and Total said they’ve authorized construction of the multibillion-dollar Mero 2 project offshore of Brazil. The authorization shows the international offshore sector is continuing a slow but steady rebound worldwide. The new development involves building a […]
Libra Consortium Takes FDI On Mero-2 FPSO In Brazil’s Pre-Salt
(Shell, 11.Jun.2019) — Libra Consortium announced the final investment decision to contract the Mero-2 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field offshore Santos Basin in Brazil. The FPSO will have a capacity to process up to 180,000 barrels of oil per day. The […]
FMC Corp. Realigns Leadership Structure In The Americas
(FMC, 11.Jun.2019) — FMC Corporation announced that it is realigning the leadership structure for its North America and Latin America regions. Ronaldo Pereira, president, FMC Latin America, has been appointed president of the company’s new Americas Region, which encompasses the U.S., Canada, Central America and South America. Pereira will continue […]
Petrobras Announces Secondary Equity Offering By Caixa EconĂ´mica Federal
(Petrobras, 10.Jun.2019) — Petrobras announces that Caixa EconĂ´mica Federal (the “Selling Shareholder”), has commenced an offering of 241,340,371 common shares, without par value, of Petrobras, including Common Shares represented by American depositary shares, each of which represents two Common Shares (the “Common ADSs”), in a global offering that consists of […]
Petrobras Says CEF To Divest $1.86 Billion Stake
(Reuters, 10.Jun.2019) — Brazil’s state-run oil company Petroleo Brasileiro SA said Caixa EconĂ´mica Federal will sell a stake worth 7.2 billion reais ($1.86 billion) in the company, according to a securities filing on Monday. Caixa will sell 241.3 million common shares in the oil company in a secondary offering, the […]
Itaipú Dam Talks To Vent Paraguay’s Pent-up Energy
(FT.com, Andres Schipani, 10.Jun.2019) — From the GuaranĂ language, ItaipĂş translates as “the sounding stone”, echoing the reverberations the Paraná river makes as it flows between and around underwater rocks. Centuries ago, a Jesuit missionary described the GuaĂra falls in the area as the “river raining down with the utmost […]
Petrobras Reports On Secondary Public Offering Of BR Distribuidora Shares
(Petrobras, 7.Jun.2019) — Petrobras, following up on the release of05/22/2019, informs that on this date it has submitted to the Brazilian Association of Financial and Capital Market Entities (“ANBIMA”) a request for prior analysis for registration of the secondary public offering for distribution of common shares issued by Petrobras Distribuidora […]
LatAmNRG Bolivia Briefs: Putin-Morales Meeting, Lithium, Potassium Chloride
(Energy Analytics Institute, Aaron Simonsky, 7.Jun.2019) — Heard on the street related to the Bolivian upstream, midstream, downstream and renewable energy sectors including: Russian President Vladimir Putin’s plans to meet his Bolivian counterpart Evo Morales in July; Bolivia has exported 22,000 tons of potassium chloride to Brazil; Bolivia eyes deciding […]
Petrobras Announces Favorable Supreme Court Decision
(Petrobras, 6.Jun.2019) — Petrobras said the Plenary of the Federal Supreme Court (STF) reversed the provisional injunction granted by Minister Ricardo Lewandowski in ADI 5624, which conditioned the sale of control of subsidiaries and subsidiaries of state-owned companies to prior legislative authorization and public bidding. Petrobras continues with its divestments, […]
ANP 16th Bid Rounds: Mitigating Sky-high Bonuses
(WoodMac, 6.Jun.2019) — After three highly competitive exploration bid rounds in 2018, momentum is building for Brazil’s three-round licensing bonanza that starts later this year. While the PSC Round 6 planned for November still looks to be on track, the remaining rounds are less certain. Originally planned for October, the […]
Argentina And Brazilian Officials Meet To Discuss Energy Exchanges
(Energy Analytics Institute, Ian Silverman, 6.Jun.2019) — Argentina’s Energy Secretariat Gustavo Lopetegui met 6 June with Brazil’s Minister of Mines and Energy Bento Albuquerque under the framework of President Jair Bolsonaro’s visit to Argentina. Two Memorandums of Understanding (MOUs) were signed during the meetings related to the exchange of energy […]
Ultrapar Announces Early Tender Results Of Offer For Its 5.250% Notes Due 2026
(Ultrapar, 6.Jun.2019) — Ultrapar International S.A. announced the early tender results of its offer to purchase for cash up to U.S.$200,000,000 aggregate principal amount. (Incorporated in the Grand Duchy of Luxembourg) Offer to Purchase for Cash Up to U.S.$200,000,000 Aggregate Principal Amount of its Outstanding 5.250% Notes due 2026 Ultrapar […]
Different Brazilian Justice OKs Privatizations Without Congressional Approval
(Reuters, 6.Jun.2019 ) — Brazilian Supreme Court Justice Carmen Lucia voted on Thursday to allow the divestment of state-run firms and subsidiaries without congressional approval, but added that all divestments, including of minority stakes, should be done through auction. Before Lucia’s vote, two Supreme Court justices had voted in favor […]
Engie Brazil CEO Expects Supreme Court To Ok $8.6 Billion Gas Pipeline Deal
(Reuters, 6.Jun.2019) — The chief executive officer of Engie SA in Brazil, Mauricio Bahr, said he expects the country’s highest court to approve the French company’s $8.6 billion acquisition of gas pipeline TAG from Brazil’s state-controlled Petroleo Brasileiro SA.. Bahr said he expects the Supreme Court to show “common sense” […]
Odebrecht Informs Petrobras That Sales Talks With Lyondell Are Off
(Energy Analytics Institute, Aaron Simonsky, 4.Jun.2019) — Odebrecht S.A., the controlling shareholder of Braskem S.A., notified Petrobras that negotiations regarding the potential transaction involving the sale of Odebrecht’s entire stake in Braskem to the Dutch company Lyondell Basell were terminated, Petrobras announced in an official statement 4 June. *** © […]
Brazil Will Allow Mills Sell Ethanol Directly To Service Stations
(Reuters, Marcela Ayres and Marcelo Teixeira, 4.Jun.2019) — The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors. The resolution by CNPE, the […]
GeoPark Testing Praia Dos Castelhanos 1 Exploration Well
(GeoPark, 3.Jun.2019) — GeoPark Limited drilled and completed the Praia dos Castelhanos 1 exploration well in the REC-T-128 block (GeoPark operated, 70% WI) to a total depth of 8,431 feet. A production test in the Agua Grande formation resulted in a production rate of approximately 300 barrels per day of […]
LatAmNRG Bolivia Briefs: Petrobras Volumes, Investments In Lithium
(Energy Analytics Institute, Ian Silverman, 30.May.2019) — Heard on the street and LatAmNRG briefs related to Brazil’s Petrobras requesting lower natural gas volumes from Bolivia’s YPFB, investments to industrialize Bolivian lithium expected to reach $600 million, and Bolivia’s state oil entity YPFB planning to open a new office in Peru […]
Petrobras Says It Has Been Contacted By U.S. CFTC
(Reuters, 30.May.2019) — Brazilian state-run oil firm Petrobras has received a request for information from the U.S. Commodity Futures Trading Commission regarding the firm’s trading activities, the company said in a filing on Thursday. “Petrobras … was contacted by the U.S. Commodity Futures Trading Commission (CFTC) with information requests regarding […]
Brazil Govt, Petrobras Lobby Ahead Of Key Privatization Court Ruling
(Reuters, Ricardo Brito, 30.May.2019) — Brazilian state-run oil company Petrobras and sectors of the government are mobilizing in the lead-up to a Supreme Court session next week that could have a profound effect on privatizations in the country. In recent days, lawyers for Petroleo Brasileiro SA , as well as […]
Petrobras Starts Teaser For 27 Onshore Fields In EspĂrito Santo
(Energy Analytics Institute, Aaron Simonsky, 27.May.2019) — Brazil’s state oil and gas entity Petrobras started the opportunity disclosure phase or Teaser, related to divestment of its total equity interest in 27 mature fields onshore Brazil. The interest include shared production outflow and treatment facilities located in EspĂrito Santo, in the […]
Braskem BODs OKs $101mn Corruption Settlement
(Reuters, 27.May.2019) — The board of Brazilian petrochemicals producer Braskem SA has approved an agreement with authorities to pay 410 million reais ($101 million) to settle its involvement in the ‘Car Wash’ corruption case, Braskem said on Monday in a filing. The sprawling corruption investigation known as Car Wash uncovered […]
Petrobras Sets June Deadline For Liquigas Non-Binding Offers: Source
(Reuters, Carolina Mandl, 27.May.2019) — Brazilian state-controlled oil company Petroleo Brasileiro SA has set a June 7 deadline to receive non-binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, one source with knowledge of the matter said. Petrobras, as the oil company is known, has been selling assets […]
Petrobras Not Yet Summoned On Injunction Decision To Suspend TAG
(Energy Analytics Institute, Aaron Simonsky, 27.May.2019) — Petrobras, responded to recent news published in media, says it hasn’t yet been summoned of the injunction issued by Supreme Court Judge Edson Fachin, determining suspension of the competitive process for divestment of 90% of the company’s interest in Transportadora Associada de Gás […]
Petrobras Names Nivio Ziviani To Board Of Directors
(Petrobras, 21.May.2019) — Petrobras announced its Board of Directors, at a meeting held yesterday, approved the nomination by the controlling shareholder of Mr. Nivio Ziviani to the position of member of the Company’s Board of Directors. This nomination will be submitted tothe deliberation of the next General Shareholders’ Meeting that […]
Ultrapar To Acquire Up To $200,000,000 Of Outstanding 5.250% Notes Due 2026
(Ultrapar, 22.May.2019) — Ultrapar International S.A., a public limited liability company (sociĂ©tĂ© anonyme) organized and established under the laws of the Grand Duchy of Luxembourg with registered office at 6, rue Eugène Ruppert, L-2453, Luxembourg, Grand Duchy of Luxembourg, and registered with the Luxembourg Register of Commerce and Companies (Registre […]
Petrobras Updates On Change Of ADR Programs Custodian
(Petrobras, 21.May.2019) — Petrobras says the Brazilian Securities and Exchange Commission (CVM) has approved the change of the custodian bank of its ADR programs for common and preferred shares, which will be the responsibility of Banco Bradesco S.A. The remaining characteristics of the ADR programs will remain unchanged: •Depositary Bank: […]
Petrobras Approves Amendment To Transfer Of Rights Agreement
(Petrobras, 21.May.2019) — Petrobras says its Board of Directors approved the execution of the Amendment to the Transfer of Rights Agreement pursuant to the National Council of Energy Policy, Resolution No. 5, of April 9, 2019. The amendment provides for the reimbursement of US$ 9.058 billion (nine billion and fifty […]
Petrobras’ Says Motion To Vacate Arbitration Award Issued In Vantage Case
(Petrobras, 17.May.2019) — Petrobras, following up onthe Press Release of March 8, 2019, hereby informs that today the United States District Court for the Southern District of Texas denied Petrobras’s motion to vacate and recognized the arbitral award rendered in the arbitration filed by Vantage Deepwater Company and Vantage Deepwater […]