(Petrobras, 7.Jul.2022) — Petrobras informs that it will release its 2Q22 Production and Sales Report on 21 July 2022 and its 2Q22 Financial Performance Report on 28 July 2022, both after the markets close. On 29 July 2022, two webcasts will be held, the first in Portuguese and the second […]
Tag: Petrobras
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Petrobras Commences Cash Tender Offers [PDF Download]
(Petrobras, 6.Jul.2022) — Petrobras (NYSE: PBR) announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (“PGF”), has commenced cash tender offers to purchase for cash (each, an “Offer” and collectively, the “Offers”) any and all of (i) its notes of the series set forth in the below table under the […]
Petrobras Entrusts Tenaris with Supply of casing for Buzios Pre-salt Project
(Tenaris, 6.Jul.2022) — Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its flagship Buzios deepwater project. Located in the Pre-salt Santos Basin, Buzios is among the largest deepwater oil and gas fields in the world. Production is expected to reach […]
Petrobras on Divestment of Stake in Deten
(Petrobras, 5.Jul.2022) — Petrobras, following up on the release disclosed on 04/28/02, informs that it has today finalized the sale of its entire interest (27.88%) in Deten QuĂmica S.A., located in the industrial complex of Camaçari, in the state of Bahia, to the company Cepsa QuĂmica S.A., which already has […]
NRGBriefs: SEOGS 2022 Kicks Off; Petrobras CEO Takes Office
(Energy Analytics Institute, 28.Jun.2022) — Energy briefs including new Petrobras CEO Caio Mário Paes de Andrade starting his new job in Rio de Janeiro; and the opening of the 2nd edition of the Suriname Energy, Oil & Gas Summit & Exhibition (SEOGS) in the South American country’s capital Paramaribo. LATIN […]
Petrobras Teasers for Divestment of Refining and Logistics Assets
(Petrobras, 27.Jun.2022) — Petrobras, following up on the releases disclosed on 8 February 2021, 25 August 2021, and 1 October 2021, restarted the processes for the sale of Refinaria Abreu e Lima (RNEST), in Pernambuco, Refinaria Presidente GetĂşlio Vargas (REPAR), in Paraná, and Refinaria Alberto Pasqualini (REFAP), in Rio Grande […]
Petrobras BODs Names Caio Mário Paes de Andrade as CEO
(Petrobras, 27.Jun.2022) — Petrobras, informs that its Board of Directors, in a meeting held today, by majority vote, nominated Mr. Caio Mário Paes de Andrade as Petrobras’ Director until the next General Shareholders’ Meeting and elected him as the company’s CEO, the latter to hold office until April 13, 2023. […]
Petrobras Elects New CEO as Fuel Price Pressures Mount
(Reuters, 27.Jun.2022) — The board of directors of Brazil’s Petrobras elected Caio Paes de Andrade as its new chief executive on Monday, as a messy management transition at the state-run oil company inches toward conclusion. Andrade, a former economy ministry official, was also voted onto the company’s board ahead of […]
Saipem to Sale FPSO Cidade de VitĂłria for $73mn to BW Energy
(Saipem, 27.Jun.2022) — Saipem and BW Energy signed a Memorandum of Agreement (MoA) for the sale of the FPSO Cidade de Vitoria, currently owned by Saipem and operated for Petrobras in the Golfinho field offshore Brazil. The sale of the FPSO is subject to the closing of the acquisition by […]
Petrobras Board to Discuss Selection of Caio Mário Paes de Andrade as Next CEO
(Petrobras, 24.Jun.2022) — Petrobras, following up on the release disclosed today, informs that its Board of Directors will meet extraordinarily, on 27 June 2022, in the morning, to deliberate on the appointment of Mr. Caio Mário Paes de Andrade as a Member of the Board of Directors of Petrobras and […]
BW Energy Inks Deal for Golfinho Field FPSO Cidade de Vitoria
(BW Energy, 24.Jun.2022) — BW Energy signed an agreement to acquire the FPSO Cidade de Vitoria, currently producing on the Golfinho field, from Saipem for a cash consideration of $73mn. The transaction is subject to fulfilment or waiver of conditions precedents with an expected closing and takeover of the FPSO […]
Petrobras to Divest E&P assets in the EspĂrito Santo Basin
(Petrobras, 24.Jun.2022) — Petrobras, following up on the release disclosed on 23 June 2022, informs that it signed today with BW Energy Maromba do Brasil Ltda (BWE), the contracts for the sale of its total stake in the maritime concessions groups named Golfinho Cluster and Camarupim Cluster, in the post-salt […]
NRGBriefs: BW Energy Inks $75mn Deal with Petrobras for Offshore Clusters
(Energy Analytics Institute, 23.Jun.2022) — Energy briefs including Oslo-based BW Energy signing an agreement to acquire an 100% operated working interest in the Golfinho and Camarupim clusters and a 65% working interest in the BM-ES-23 block from Petrobras for $75mn. LATIN AMERICA AND THE CARIBBEAN Brazil — BW Energy inked […]
Petrobras’s Best Solution for Markets May Be Worst for Politicians
(Dow Jones, 23.Jun.2022) — Privatizing Petroleo Brasileiro SA, or Petrobras, is likely the best solution to rid Brazil’s state-owned oil giant of political interference. It is also a longshot, according to analysts. Petrobras has been stung by turmoil in recent months. Brazilian President Jair Bolsonaro has attacked the company’s fuel-pricing […]
BW Energy’s Offer for Golfinho and Camarupim Clusters Approved by Petrobras
(BW Energy, 23.Jun.2022) — BW Energy has been notified that the company’s offer to acquire the Golfinho and Camarupim Clusters offshore Brazil has been approved by the Petrobras Executive Board. The acquisition is expected to add approximately 9,000 barrels of oil per day of oil production from early 2023. The […]
Petrobras on Gaspetro Sale
(Petrobras, 22.Jun.2022) — Petrobras, following up on the release disclosed on 07/28/2021, informs that the Administrative Council for Economic Defense (CADE), in a court session held on this date, approved by majority vote the transaction for the sale of 51% of Petrobras Gás S.A. (Gaspetro) to Compass Gás e Energia […]
Fernando Borges Named as Petrobras Interim CEO
(Petrobras, 20.Jun.2022) — Petrobras, following up on the material facts disclosed today, informs that due to the vacancy in the CEO position, the Chairman of the Board of Directors has appointed the Chief Exploration & Production Officer, Fernando Borges, as interim CEO of the company, based on paragraph 4 of […]
Petrobras Maintains Commitment to Competitive Fuel Prices, Balanced Market
(Petrobras, 14.Jun.2022) — Petrobras, regarding the news published in the media about expectations of new readjustments in fuel prices, maintains its commitment to the practice of competitive prices and in balance with the market, while avoiding the immediate passthrough of external volatility and of the exchange rate caused by circumstantial […]
Petrobras Inks Agreement for Feasibility of Biomethane Production
(Petrobras, 14.Jun.2022) — Petrobras and RaĂzen signed an agreement to jointly evaluate potential businesses involving the production, purchase and sale of biomethane, a 100% renewable fuel produced by RaĂzen from sugarcane waste (vinasse and filter cake), generated in the agro-industrial operations of the company’s Energy Bioparks. The partnership also foresees […]
Petrobras Inks Natural Gas Protocol of Intentions
(Petrobras, 13.Jun.2022) — Petrobras and the Sergipe Government signed today a protocol of intentions to identify business opportunities with the use of natural gas, considering the development by the company of a new frontier in Sergipe Deep Waters. The objective of the protocol is to express the purpose of prospecting […]
Petrobras on Injunction to Suspend Bahia Terra Cluster Sale
(Petrobras, 10.Jun.2022) — Petrobras was notified, on 06/09/22, of the preliminary injunction decision issued by the Court of Justice of the State of Rio de Janeiro, determining the paralysis of contractual negotiations with the PetrorecĂ´ncavo and Eneva consortium regarding the sale process of the onshore production fields located in the […]
Petrobras on BODs Meeting About CEO
(Petrobras, 9.Jun.2022) — Petrobras, regarding the news published in the media, clarifies that, yesterday, there was a meeting of the Board of Directors (BD), in which, among other topics, the Federal Government’s request for replacement of the company’s CEO was discussed, through an official letter from the Ministry of Mines […]
Petrobras on Letter from the Ministry of Mines and Energy
(Petrobras, 9.Jun.2022) — Petrobras informs that it received a letter from the Ministry of Mines and Energy today, at 8:04 pm, in reference to Petrobras’ Extraordinary General Meeting, indicating ten candidates of the controlling shareholder for the eight seats to be filled for Petrobras’ Board of Directors, in case the […]
Petrobras on Divestment of Interest in UEG Araucária S.A.
(Petrobras, 3.Jun.2022) — Petrobras has begun the teaser phase for the sale of its entire 18.80% stake in the company UEG Araucária S.A. (UEGA), located in the state of Paraná. The teaser, which contains key information about the opportunity, as well as the eligibility criteria for the selection of potential […]
Petrobras Launches New Website Dedicated to Fuel Prices
(Petrobras, 1.Jun.2022) — Petrobras, aiming to facilitate access to information on fuel prices, launched, today, a new website where it presents, in a didactic way and more user-friendly look, the parts involved in the formation of gasoline, diesel and cooking gas (LPG) prices. The new site (precos.petrobras.com.br), in addition to […]
Petrobras to Acquire Edison S.p.A.’s Interest in Ibiritermo S.A. for R$1.00
(Petrobras, 1.Jun.2022) — Petrobras signed a contract for the purchase of Edison S.p.A.‘s interest (50%) in Ibiritermo S.A., for the price of R$ 1.00, in compliance with the Energy Conversion Contract (ECC), signed on 06/21/2002 with Ibiritermo S.A.. Additionally, at the conclusion of the transaction, Petrobras will make the payment […]
Petrobras Reveals Teaser for UFN III Divestment
(Petrobras, 31.May.2022) — Petrobras, following up on the release disclosed on 04/28/2022, informs it has started the opportunity disclosure stage (teaser) regarding the complete sale of the Nitrogen Fertilizer Unit III (UFN-III). The teaser, which contains key information about the opportunity – including the provision for the buyer to commit […]
Brazil Looks to Add Petrobras to Investment Partnership Program
(Petrobras, 30.May.2022) — Petrobras received a letter on 30 May 2022 from the Ministry of Mines and Energy notifying that it has forwarded to the Ministry of Economy (ME) request for qualification of the company under the Investment Partnership Program, linked to the ME, in order to start specific evaluation […]
Subsea 7 Awarded Contract Offshore Brazil
(Subsea 7, 26.May.2022) — Subsea 7 announced the award of a major(1) contract by Petrobras for the development of the BĂşzios 8 field located approximately 180 kilometres off the coast of Rio de Janeiro at 2,000 metres water depth in the pre-salt Santos basin. The contract scope includes engineering, procurement, fabrication, […]
Petrobras Inks Deal for the Divestment of the LUBNOR Refinery
(Petrobras, 25.May.2022) — Petrobras, following up on the release disclosed on 01/31/2020, informs that it signed today with the company Grepar Participações Ltda., a corporate entity jointly owned by Grecor Investimentos em Participações Societárias Ltda., Greca Distribuidora de Asfaltos Ltda. and Holding GV Participações S.A., a contract for the sale […]
Petrobras Board Deliberates About CEO, Board Changes
(Petrobras, 25.May.2022) — Petrobras, following up on the release disclosed on 23 May 2022, regarding the Ministry of Mines and Energy‘s Official Letter requesting the convening of an Extraordinary General Meeting (EGM) to promote the substitution and election of a member of the Board of Directors and the nomination of […]
Petrobras on Request Regarding Caio Mario Paes de Andrade
(Petrobras, 23.May.2022) — Petrobras received today a letter from the Ministry of Mines and Energy, requesting measures in order to call an Extraordinary General Meeting, with the purpose of promoting the removal and election of a member of the Board of Directors, and appointing Caio Mario Paes de Andrade, to […]
Petrobras Announces Diesel Spill at Presidente Bernardes Refinery
(Petrobras, 17.May.2022) — Petrobras announces there was a diesel oil spill followed by a fire at the Presidente Bernardes Refinery (RPBC), located in the city of CubatĂŁo, in the state of SĂŁo Paulo. The site was immediately isolated and the refinery’s fire brigade team controlled the incident. There were no […]
Shell Joins Exxon with $1bn Brazil Exploration Setback
(Bloomberg, 16.May.2022) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo […]
Bolsonaro Hints at Change in Petrobras’ Profit Distribution
(Reuters, 16.May.2022) — Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras‘ profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country’s October elections. In a speech during an event in Sao Paulo, Bolsonaro said […]
Petrobras Ends Competitive Process for Sergipe-Alagoas Basin Concessions
(Petrobras, 13.May.2022) — Petrobras, following up on the release disclosed on 07/20/2018, informs that it has decided to conclude the current competitive process, which was in the binding phase, for the partial sale of four concessions located in deep waters in the Sergipe-Alagoas Basin (BM- SEAL-4, 4-A, 10 and 11), […]
CADE Approves Petrobras’ Sale of REMAN to Ream Participações S.A.
(Petrobras, 13.May.2022) — Petrobras, following up on the release disclosed on 03/10/2022, informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) approved the transaction for the sale of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A.. The final and unappealable approval of the transaction by CADE […]
Bolsonaro Replaces Energy Chief After Brazil Fuel Price Hike
(Bloomberg, 11.May.2022) — Brazilian President Jair Bolsonaro replaced his Energy Minister just days after state-run Petroleo Brasileiro SA ignored his plea to not raise fuel prices, which has become a major political issue ahead of his re-election bid in October. Bento Albuquerque, who served in the role for more than […]
Brazil’s New Energy Minister Wants Studies on Petrobras Privatization
(Reuters, 11.May.2022) — Brazil’s newly appointed mines and energy minister, Adolfo Sachsida, said on Wednesday he will request studies on Petrobras‘ privatization as his first act in office. “I request the beginning of the studies pending the proposal of the legislative changes necessary for the Petrobras’ privatization,” Sachsida said in […]
Petrobras to Build New Diesel Hydrotreating Unit
(Reuters, 11.May.2022) — Brazilian state-run oil company Petrobras said on Wednesday it has signed a deal with TSE and Toyo Engineering Corp to build a new diesel hydrotreating unit at its Paulinia refinery. The move will require $458 million in investments and is in line with Petrobras’ 2022-2026 business plan, […]
Petrobras Concludes Divestment of Potiguar Basin E&P Asset
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 27 December 2021, finalized the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of all the stakes held by both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state […]
Petrobras Concludes Divestment of Onshore Fields in Bahia
(Petrobras, 10.May.2022) — Petrobras, following up on the release disclosed on 17 December 2020, informs that today it concluded the sale of its entire stake in fourteen onshore exploration and production fields, called RecĂ´ncavo Cluster, located in the state of Bahia, to 3R Candeias S.A., previously named Ouro Preto Energia […]
Petrobras Starts Binding Phase for Sergipe-Alagoas Basin E&P Assets
(Petrobras, 10.May.2022) — PetrĂłleo Brasileiro S.A. (Petrobras), following up on the release disclosed on 04/11/2022, informs that today it started the binding phase regarding the sale of its total participation in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe. Potential buyers qualified for this […]
Petrobras to Pay Complementary Dividends
(Petrobras, 10.May.2022) — Petrobras informs that will pay, on Monday, 05/16/2022, complementary dividends referred to the 2021 fiscal year, based on shareholding position as of 04/13/2022, in connection to the Material Fact released on that date. The amount of dividends to be paid will be adjusted by Selic interest rate […]
Petrobras Raises Diesel Prices Despite Bolsonaro Complaints
(Bloomberg, 9.May.2022) — Brazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just days after President Jair Bolsonaro bashed the company for too-high profits. After holding prices stable since March, Petrobras announced an 8.9% increase in diesel prices for distributors to 4.91 reais a liter ($0.96), it said […]
NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58
(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant PetrĂłleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their […]
Petrobras Comments on Shareholders Remuneration
(Petrobras, 5.May.2022) — PetrĂłleo Brasileiro S.A. (Petrobras) informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share. The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that […]
Brazil’s President Calls Petrobras Profits a ‘Rape’
(Reuters, 5.May.2022) — Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise fuel prices again, and compared the company’s profits to a “rape” of the country. The far-right leader said a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, […]
Petrobras to Invest $5.5bn in Extracting Activity in the Next Five Years
(Petrobras, 4.May.2022) — A Petrobras executive highlighted new discoveries in oil and gas during Bratecc meeting, a parallel event to the Offshore Technology Conference (OTC), in Houston (USA). The recent pre-salt oil discoveries, in the Central Alto de Cabo Frio and Aram areas, open up a scenario of new extraction […]
Petrobras Concludes Divestment of Bahia Terra Cluster
(Petrobras, 4.May.2022) — Petrobras, regarding the news published in the media, informs that it has concluded the new round of the sale process binding phase of the onshore production fields located in the RecĂ´ncavo and Tucano Basin, in the state of Bahia, jointly called Bahia Terra Cluster. The consortium formed […]