(Petrobras, 24.Feb.2017) – Petrobras announces its Board of Directors has approved settlements to end four individual lawsuits filed before the Federal Court of New York, USA, by New York City Employees Retirement System (and others), Transamerica Income Shares, Inc. (and others), Internationale Kapitalanlagegesellschaft mbH, Lord Abbett Investment Trust – Lord […]
Category: Brazil
Brazil energy
Nova Fronteira Merges into SĂŁo Martinho S.A.
(Petrobras, 23.Feb.2017) – Petrobras announced that, further to the statement on 12/15/2016, its wholly owned subsidiary Petrobras BiocombustĂvel S.A. (PBIO) finalized the merger of Nova Fronteira into SĂŁo Martinho S.A. The transaction was concluded on PBIO’s receipt of 24 million new ordinary shares issued by SĂŁo Martinho, representing 6.593% of […]
Petrobras Proceeds with Sale of PetroquĂmicaSuape
(Petrobras, 23.Feb.2017) – Further to the relevant fact disclosed on January 31, 2017, Petrobras announced that the Federal Regional Court of the 5th Region granted the stay of proceedings sought by Petrobras concerning the sale of the shares in Companhia PetroquĂmica de Pernambuco (PetroquĂmicaSuape) and Companhia Integrada TĂŞxtil de Pernambuco […]
Petrobras Reports Production in January
(Petrobras, 15.Feb.2017) – Petrobras’ total oil and natural gas production in January was 2.86 million barrels of oil equivalent per day (boed), of which 2.74 million boed were produced in Brazil and 0.12 million boed abroad. The average oil production in the country was 2.23 million barrels per day (bpd), […]
Petrobras Reaches Production Target
(Petrobras, 12.Feb.2017) – Petrobras reported average oil production in Brazil reached an annual historical record in 2016, at 2.144.256 barrels per day (bpd), 0.75% above the results for the prior year and in line with the 2,145 thousand bpd target forecast for the period. For the second year in a […]
Standard & Poor’s Improves Petrobras’ Rating
(Petrobras, 11.Feb.2017) – Petrobras announced that the credit rating agency Standard & Poor’s raised its rating for the company’s corporate debt to ‘BB-‘ from ‘B+’ and changed its outlook to stable from negative. The agency stated that the improvement in Petrobras’ rating reflects the evolution of its liquidity and a […]
Petrobras Announces Final Tender Results
(Petrobras, 9.Feb.2017) – PetrĂłleo Brasileiro S.A. – Petrobras (PBR) announced that holders of $4,899,100,000 and €631,753,000 principal amount of the outstanding notes of the series set forth in the table below (all such notes, collectively, the Old Notes and each a “series” of Old Notes), issued by its wholly-owned subsidiary […]
P-66 Leaves Shipyard for Lula Field
(Petrobras, 6.Feb.2017) – The floating platform will operate in the Santos Basin pre-salt and it will be the seventh unit deployed in Lula field. On February 4, 2017 the floating production, storage and offloading vessel (FPSO) P-66 left the Brasfels shipyard in Angra dos Reis, Rio de Janeiro. It is […]
Gran Tierra to Divest Brazil Business
(Gran Tierra Energy Inc., 6.Feb.2017) – Gran Tierra Energy Inc. announced a purchase and sale agreement was executed pursuant to which Maha Energy AB agreed to purchase Gran Tierra’s Brazil business unit through the acquisition of all of the equity interests in one of Gran Tierra’s indirect subsidiaries, and the […]
LatinFinance Says Petrobras Has Best Debt Management
(Petrobras, 16.Jan.2017) – Voted the company with the best debt management performance in the international capital markets in 2016, Petrobras was presented by LatinFinance magazine with the Corporate Liability Management of the Year award, at a ceremony held in New York on January 12, 2017. The award took into consideration […]
Petrobras Announces Pricing of Global Notes
(Petrobras, 10.Jan.2017) – Petrobras announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). The Notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by Petrobras. Closing is expected to occur […]
Moody’s Assigns Rating to Petrobras Notes
(Moody’s Investors Service, 9.Jan.2017) – Moody’s Investors Service assigned a B2 rating to Petrobras Global Finance B.V.’s proposed global notes, which will be unconditionally guaranteed by Petroleo Brasileiro S.A. (B2 stable). The B2 rating on the proposed notes is based on the rating of Petrobras. The proposed notes are senior […]
Petrobras Concludes Nansei Sekiyu Sale
(Petrobras, 28.Dec.2016) – Petrobras concluded the sale of its 100% stake in Nansei Sekiyu (NSS) to the Taiyo Oil Company. The transaction was done by Taiyo paying $165 million, after complying with all previous conditions set forth in the agreement as signed on October 17, 2016. This amount is still […]
Petrobras Sells Sugar, Ethanol, PetroChem Assets
(Petrobras, 28.Dec.2016) – These transactions are part of the company’s partnerships and divestments program. The target for the period 2017-2018 is $21 billion … On December 28, 2016, Petrobras closed two asset sales for the total sum of $587 million. The subsidiary Petrobras BiocombustĂvel (PBio) sold to Tereos Participations – […]
Petrobras, Total Move Forward with Alliance
(Petrobras, 21.Dec.2016) – Petrobras signed a Master Agreement with the French company Total, in connection with the Strategic Alliance established in the Memorandum of Understanding signed on 10/24/2016, as previously announced to the market. Entering into strategic partnerships is an important part of Petrobras’ 2017-2021 Business and Management Plan, as […]
Wood Group Awarded Contract for Statoil’s Peregrino field
(Wood Group, 28.Jun.2016) – Wood Group was awarded a multimillion dollar contract to provide detailed engineering and design, and procurement services to South Atlantic Holding (owned by Statoil and partner Sinochem) for the development of the Peregrino field wellhead platform C, offshore Brazil. Wood Group Mustang will perform the work […]
Petrobras Class Action in the United States
(Petrobras, 15.Jun.2016) – Petrobras informed the United States Court of Appeals for the Second Circuit issued an order granting Petrobras’s petition to permit an appeal from the order of the District Court in which the District Court certified classes in the securities litigation. The District Court’s order was disclosed in […]
Petrobras Starts Competitive Process to Sell Liquigás
(Petrobras, 15.Jun.2016) – Petrobras started the competitive process to sell Liquigás Distribuidora S.A., a wholly-owned, privately-held subsidiary operating in the bottling, distribution and selling of liquefied petroleum gas (LPG). Liquigás has a presence in almost all Brazilian states, with 23 operating centers, 19 deposits, 1 storage and road-rail loading base, […]
New Libra Well Confirms Extension of Petrobras Oil Find
(Petrobras, 15.Jun.2016) – The Libra Consortium has concluded the drilling and evaluation of the seventh well in the block, located in the pre-salt of the Santos Basin. The well found the thickest oil net pay column ever encountered in Libra, reaching 410 meters. This column overcomes the last found (301 […]
Petrobras Says Production Up 5% in May
(Petrobras, 8.Jun.2016) – Petrobras’ total oil and natural gas production in May reached 2.83 million barrels of oil equivalent per day (MMboe/d), up 5 percent compared to April (2.69 MMboe/d) and up 2 percent compared to May 2015, of which 2.64 MMboe/d were produced in Brazil and 190,000 boe/d were […]
Nelson Silva Appointed Petrobras’ Strategy Consultant
(Petrobras, 6.Jun.2016) – Nelson Silva has been appointed senior consultant to Petrobras’ board of executives. Invited by CEO Pedro Parente, he will coordinate the company’s strategic review process and help to evaluate and redesign its management systems. “We want to speed up changes in these departments. To achieve the results […]
Helix Finalizes Contract Negotiations With Petrobras
(Helix Energy Solutions Group, 2.Jun.2016) – Helix Energy Solutions Group, Inc. has completed its contract renegotiations with Petrobras and entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2, offshore Brazil. The contract for the Siem Helix […]
Petrobras Announces New CEO, Mgmt Changes
(Petrobras, 30.May.2016) – Petrobras received Mr. Aldemir Bendine’s letter of resignation from the positions of Member of the Board of Petrobras and CEO. Bendine also resigned from the position of Member of the Board of Petrobras Distribuidora – BR. In light of the resignation, the Board of Directors held an […]
Dilma Warns Gov’t Wants to Privatize Brazilian Reserves
(Energy Analytics Institute, Jared Yamin, 26.May.2016) – Brazil President Rousseff Dilma, suspended from her duties for six months, claims the country’s interim president Michel Temer plans to privatize the country’s pre-salt reserves and leave Petrobras out of the picture. “We know where the petroleum is located, we know its quality […]
Lawmaker Wants Investigation into Brazil-Bolivia Deals
(Energy Analytics Institute, Jared Yamin, 23.May.2016) – Brazil’s Vice President of Foreign Affairs and Deputy in the Brazil National Defense Chamber of Brazil Luis Carlos Auli announced he wants an investigation into contracts signed between Bolivia and Brazil’s Working Party under presidents Luis Inácio Lula Da Silva and Dilma Rousseff. […]
Lawmaker’s Suggests Resignation of Minister Linked to Petrobras Scandal
(Energy Analytics Institute, Jared Yamin, 23.May.2016) – Brazilian lawmaker Pauderney Avelino, from Brazil’s lower chamber, said Planning Minister Romero Jucá under the interim government of Michel Temer should resign due to his being linked to the Petrobras corruption scandal. “He should be an example and leave the government and then […]
Bolivia Exported 24 MMcm/d to Brazil
(Energy Analytics Institute, Jared Yamin, 19.May.2016) – Bolivian exports to Brazil reached 24 million cubic meters per day on May 12, 2016 compared to 30 million cubic meters per day on May 8, 2016 while exports to Argentina reached 19 million cubic meters per day, up compared to 14 million […]
Rousseff Issues Will Not Affect Gas Deals
(Energy Analytics Institute, Jared Yamin, 18.May.2016) – The political situation that is affecting Brazil with the suspension of its President Dilma Rousseff will not affect negotiations with Bolivia regarding a natural gas sales and purchase agreement. “Brazil has a need to supply its market with Bolivian gas and over time […]
Sembcorp Unit Completes Repair Job at Brazil Yard
(Sembcorp Marine Ltd., 18.May.2016) – Singapore’s Sembcorp Marine Ltd. announced that its wholly-owned Brazilian subsidiary Estaleiro Jurong Aracruz (EJA) has marked a key operational milestone with the successful completion of the yard’s first vessel repair project. The Olympic Gemini, a bulk carrier managed by the Company, left EJA May 12, […]
Former Lula Minister Sentenced to Jail in Petrobras Case
(Energy Analytics Institute, Jared Yamin, 18.May.2016) – Former Brazilan Minister JosĂ© Dirceu was sentenced to a 23-year, 3-month prison term due to his presumed involvement in the Petrobras corruption scandal. Dirceu, who served as the President of the Workers Party (PT by its Portuguese acronym), was one of the most […]
Petrobras Signs Contracts for Marlim, Voador Fields
(Petrobras, 17.May.2016) – Petrobras signed an extension of the concession contracts for the Marlim and Voador fields with the National Petroleum Agency (ANP) until 2052. The Production Phase of the field was extended in line with Resolution 2/2016 issued by the National Energy Policy Council (CNPE), which authorized the Agency […]
Petrobras Issues $6.75 Billion in Global Notes
(Petrobras, 17.May.2016) – Petrobras issued $6.75 billion of 5 and 10 year Global Notes through its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). The transaction was priced on May 17, 2016 and the terms of the notes issued are as follows: The order book was 2.75x and 3.0x oversubscribed in […]
Approval of Sale of Petrobras Argentina
(Petrobras, 13.May.2016) – Petrobras announced that its Board of Directors approved the sale of its entire 67.19 percent interest in Petrobras Argentina (PESA), owned by Petrobras Participaciones S.L. (PPSL), to Pampa EnergĂa. The transaction base price is $892 million, equivalent to the value of $1,327 million for 100 percent of […]
Petrobras on Sale of Nova Transportadora do Sudeste
(Petrobras, 13.May.2016) – Petrobras, further to the notice published on February 26, 2016 regarding the sale of Nova Transportadora do Sudeste (NTS), announced the company’s Executive Board has approved exclusive negotiations with the company Brookfield for 60 days, which may be extended for another 30 days. This transaction is subject […]
Clarification on Estimated Returns on Petrobras Projects
(Petrobras, 9.May.2016) – Petrobras said it periodically analyzes the economic performance of its projects. The results are consolidated in a corporate document entitled Post-EVTE Study (Post Economic and Technical Feasibility Study), which details the integrated economic impact of the company’s projects, using well-defined assumptions and methodological guidelines. This process aims […]
Petrobras Signs Credit with China Exim Bank
(Petrobras, 9.May.2016) – Petrobras signed a term sheet with China Exim Bank (Export-Import Bank of China) containing the main terms and conditions for a $1 billion loan. The final loan agreement is already being negotiated, anticipating the funding planned for 2017. The agreement is related to supply contracts for equipment […]
Petrobras Reports April Production Levels
(Petrobras, 9.May.2016) – Petrobras’ total oil and natural gas production in April amounted to 2.69 MMboe/d, of which 2.50 MMboe/d were produced in Brazil and 190,000 boe/d abroad. The average oil production in April was 2.12 MMb/d, up 5 percent compared to the previous month, which was 2.02 MMb/d. In […]
Petrobras Reports on Negotiations for Sale of Petrobras Argentina
(Petrobras, 8.May.2016) – Petrobras, regarding the sale of its stake in Petrobras Argentina, as disclosed in the Material Fact on February 3, 2016, would like to announce that negotiations with Pampa Energia are ongoing, extending the period of exclusivity for another 30 days to complete negotiations. Petrobras reiterates that this […]
Petrobras Updates on Sale of Distribution Assets in Chile
(Petrobras, 4.May.2016) – Petrobras has completed negotiations with the Southern Cross Group on the main terms and conditions for the sale of 100 percent of Petrobras Chile DistribuciĂłn Ltda. (PCD), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with $2.9 billion of […]
PEPC’s Restructuring Not Likely to Impact Brazil Program
(Karoon Gas Australia Ltd., 28.Apr.2016) – Karoon Gas Australia Ltd. provided an update on recent events relating to its 65 percent owned Santos Basin Blocks S-M-1037, 1101, 1102, 1165 & 1166 offshore Brazil. Karoon’s 35 percent joint venture partner, Pacific Exploration and Production Corp. (Pacific) announced April 27, 2016 that […]
Petrobras Comments on Divestment of Gaspetro Shares
(Petrobras, 26.Apr.2016) – Petrobras declared that the new injunction granted by the Rio Federal Court has not suspended the sale of 49 percent of its interest in Gaspetro, but determined that the buyer may not dispose of the shares acquired. Petrobras is analyzing the appropriate legal measures in regard to […]
Petrobras Says Production Reached 2.55 MMBoe/d in March
(Petrobras, 10.Apr.2016) – Petrobras’ oil and natural gas output in March reached 2.55 MMboe/d, including 2.36 MMboe/d produced in Brazil and 183,000 boe/d abroad. Average oil production in March was 2.02 MMb/d, down 3 percent compared to 2.09 MMb/d in the previous month. Domestic average output stood at 1.94 MMb/d, […]
BrasFELS Signs $141 Mln FPSO Contract
(Keppel Corporation Ltd. 7.Apr.2016) – Singapore’s Keppel Corp. Ltd. announced that its unit Keppel Offshore & Marine Ltd. (Keppel O&M), through its subsidiary, Keppel FELS Brasil SA’s BrasFELS shipyard has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC Offshore […]
Petrobras’ New Program to Encourage Voluntary Severance
(Petrobras, 1.Apr.2016) – Petrobras launched a new Program to Encourage Voluntary Severance (PIDV), which will be open to all employees, regardless of their age or length of service at the company. The goal is to adjust its workforce to the needs of the Business and Management Plan, optimizing productivity and […]
GenPower, ExxonMobil Sign Framework for LNG Supply
(Golar LNG, 4.Mar.2016) — Golar GenPower Brasil Participações S.A., a joint venture between LNG Power Limited (UK), a standalone non-recourse subsidiary of Golar LNG Limited and GenPower Participações S.A., announced that it has signed a framework agreement for the supply of LNG to the natural gas fired power generation project […]
Petrobras OTC 2015: Offshore Video
(Energy Analytics Institute, Jared Yamin, 30.Oct.2015) – Brazil’s state oil entity Petrobras discusses its challenges in the pre-salt during the Offshore Technology Conference in Houston, Texas.
Statoil Awards Wood Group Contract Offshore
(Statoil ASA, 22.Sep.2015) – Norway’s Statoil ASA, on behalf of the Peregrino license partners, has been awarding a contract to Wood Group to provide 4-year operations and maintenance for 2 wellhead platforms (Alpha and Bravo) and modification services for both units and the FPSO Peregrino in the Campos Basin, offshore […]
Petrobras Clarifies Gaspetro Details
(Petrobras, 17.Sep.2015) – Due to the article published in the press on the potential sale of Gaspetro, Petrobras clarifies that, as announced on June 29, 2015, a divestment plan has been approved totaling $15.1 bln for the 2-year period 2015 and 2016. Therefore, the company is considering divestment opportunities in […]
Petrobras Output Sets Record in August
(Petrobras, 16.Sept.2015) – Petrobras’ oil and natural gas production in Brazil and abroad reached 2.88 MMboe/d in Aug.2015, a new record. It is up 0.8% on the previous record of 2.86 MMboe/d set in Dec.2014. This volume is also up 4.5% on Aug.2014 (2.76 MMboe/d). Oil and natural gas production […]
Petrobras Clarifies Details of Expense Cuts
(Petrobras, 15.Sep.2015) – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE      “We request that you provide clarification, by 9 a.m. on 9.Sep.2015, of the content of the article published by the newspaper Valor EconĂ´mico on 14.Sep.2015, entitled “Petrobras promises unprecedented expense […]