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(Petrobras, 20.Oct.2021) — In 3Q21, Petrobras continued to operate safely and with a solid performance, still with a differentiated regime and special protocols due to the pandemic scenario, but with a gradual increase in the number of people on board. The average production of oil, LGN and natural gas reached […]
Tag: Petrobras
Petrobras Comments On Fuel Orders Fulfillment
(Petrobras, 18.Oct.2021) — Petrobras clarifies about pieces of news in the media regarding cuts in fuel orders fulfillment. As disclosed in the 2Q21 Production and Sales Report, the company operated its refining facilities in the first half of 2021 with a utilization factor (UF) of 79%, in line with the […]
As Western Oil Giants Cut Production, NOCs Step Up
(New York Times, 14.Oct.2021) — After years of pumping more oil and gas, Western energy giants like BP, Royal Dutch Shell, Exxon Mobil and Chevron are slowing down production as they switch to renewable energy or cut costs after being bruised by the pandemic. But that doesn’t mean the world […]
Petrobras Divests Bahia Terra Cluster
(Petrobras, 14.Oct.2021) — Petrobras, regarding the pieces of news in the media about the sale of onshore production fields, located in the RecĂ´ncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra Cluster, clarifies that it has received binding offers from potential interested parties in the […]
Aguila Energia Places $1.5bn Bid For Petrobras’ Bahia Fields
(Reuters, 11.Oct.2021) — A consortium led by Aguila Energia has placed the highest bid for Brazilian state-run oil company Petrobras‘ Bahia onshore fields, offering over $1.5 billion, according to two sources with knowledge of the situation. Petroleo Brasileiro (PETR4.SA), as the company is formally known, declined to comment. The proposal by […]
NRGBriefs: Blinken Visits Lopez Obrador In CDMX
(Energy Analytics Institute, 8.Oct.2021) — Energy briefs including US secretary of state Antony Blinken visiting Mexico City for the US-Mexico high-level security dialogue; Petrobras planning to boost petrol and cooking gas prices; Great Panther Mining Limited reporting production results in Brazil and Mexico; and more. LATIN AMERICA AND CARIBBEAN Brazil […]
Petrobras Picks PetroRio As Top Bidder For Albacora
(Reuters, 7.Oct.2021) — Brazil state oil giant Petrobras has chosen a consortium of PetroRio SA and Cobra, a subsidiary of France’s Vinci SA, as the top bidder for its Albacora offshore oilfield, four people with knowledge of the matter said. The PetroRio-Cobra bid topped a competing offer placed by a […]
Petrobras Says 2022-26 Budget Under Preparation
(Petrobras, 6.Oct.2021) — Petrobras says its Strategic Plan 2022- 26 (SP 2022-26) is under preparation. Following the previous years, in SP 2022-26 the company intends to present its production curve, the plan’s financing, as well as the investment projection (CAPEX), including the amount to be spent each year and the […]
Petrobras Releases Teaser For GOM E&P Assets
(Petrobras, 4.Oct.2021) — Petrobras started the opportunity disclosure stage (teaser), regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in the Gulf of Mexico. The teaser, […]
CNODC Yet To Express Interest In BĂşzios Field
(Petrobras, 4.Oct.2021) — Petrobras, following up on the release disclosed on 29 September 2021, informs that the partner CNODC Brasil PetrĂłleo e Gás Ltda. has not expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, […]
Petrobras Concludes Obligations In DOJ Deal
(Petrobras, 4.Oct.2021) — Petrobras concluded the obligations set forth in its agreement with the U.S. Department of Justice (DOJ), previously disclosed in its 27 September 2018 release. The non-prosecution agreement, which related to Petrobras’ internal controls, accounting records, and financial statements during the period from 2003 to 2012, included certain […]
Petrobras Won’t Artificially Control Fuel Prices
(Reuters, 2.Oct.2021) — Petrobras (PETR4.SA) Chief Executive Officer Joaquim Silva e Luna said there was “zero” risk that the state-run Brazilian oil company would seek to artificially control fuel prices even amid growing public outrage over inflation. Petroleo Brasileiro, as the company is formally known, will have to raise gasoline […]
NRGBriefs: YPF’s 3Q:21 webcast, PGF’s global notes
(Energy Analytics Institute, 30.Sep.2021) — Energy briefs including Argentina’s YPF announcing details of its 3Q:21 webcast, Petrobras Global Finance B.V. (PGF) on settlement of early redemption of global notes, and refining worker detentions in Venezuela, among other updates. LATIN AMERICA AND CARIBBEAN Argentina
Petrobras Halts Gas Production A Manati Field
(Petrobras, 29.Sep.2021) — Petrobras announced that on Monday 27 September 2021 gas production was halted at the Manati field, located in the Camamu Basin, in the state of Bahia, due to a leak in the onshore portion of its export pipeline. The pipeline’s operation was interrupted, with teams being mobilized […]
Petrobras On Expression Of Interest In BĂşzios Field
(Petrobras, 29.Sep.2021) — Petrobras, following up the release disclosed on 24 August 2021, informs that the partner CNOOC Petroleum Brasil Ltda. expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, for the BĂşzios field, in […]
Petrobras Expands Social Actions
(Petrobras, 29.Sep.2021) — Petrobras‘ Board of Directors approved the allocation of R$300mn, over a period of 15 months, for the creation of a social program to support families in situations of social vulnerability to contribute with access to essential inputs, focusing on liquefied petroleum gas (LPG), popularly known as cooking […]
Petrobras Inks Deal For Leasing Of Bahia LNG Terminal
(Petrobras, 28.Sep.2021) — Petrobras, following the release disclosed on 26 August 2021, signed with Excelerate Energy Comercializadora de Gás Natural Ltda. the lease contract of the LNG Regasification Terminal of Bahia (TR-BA) and associated facilities, in the amount of approximately R$102mn, effective until December 2023, in addition to other ancillary […]
Brazil Gas Disputes Rise As Open Market Nears
(Argus, 27.Sep.2021) — Tensions are mounting in Brazil’s natural gas industry among players eager to maintain their positions or broaden their stakes as the country’s gas market prepares to open up in January. Disputes in the new Brazilian gas sector are on the rise and may well end up in […]
Petrobras Comments On Transpetro
(Petrobras, 21.Sep.2021— Petrobras’s Board of Directors of its subsidiary Petrobras Transporte S.A. (Transpetro) received a letter of resignation from Gustavo Santos Raposo as CEO of the company, with effect from 24 September 2021. Transpetro’s Board of Directors will deliberate on the nomination of Transpetro’s Service Director, Luiz Eduardo Valente, to […]
Petrobras Signs Landmark Gas Supply Deal With Gerdau
(Argus, 13.Sep.2021) — Brazil’s state-controlled Petrobras signed a natural gas supply agreement with steel producer Gerdau in a debut of its more flexible pricing model designed to compete in the newly opened wholesale market. Petrobras will supply Gerdau’s steel milling complex in Ouro Branco, Minas Gerais state. The terms of […]
Brazilian Sector Shaking Up Gas Market
(Argus, 13.Sep.2021) — Brazil’s association of energy-intensive industries (Abrace) is holding a first-ever tender to purchase more than 6mn m3/d of natural gas. Abrace gas manager Adrianno Lorenzon spoke to Argus about the wholesale market outlook as state-controlled Petrobras pulls back. What are the primary goals of the tender? The […]
Petrobras Gas Sale May Hike States’ Ownership
(Argus, 13.Sep.2021) — Brazil’s push for state-controlled Petrobras to divest from the domestic natural gas distribution business may end up boosting individual states’ ownership in the sector, thwarting plans to open up competition. Gaspetro, Petrobras’ subsidiary for natural gas distribution, is tied to Brazil state governments in 19 regional gas […]
Drought Pressures Brazil’s Power Sector
(WoodMac, 8.Sep.2021) — The severe drought in Brazil will contribute to an extremely tight power balance in the country, new research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), shows. Gabriel Dufflis, lead analyst in Wood Mackenzie’s Brazil power sector research team, said: “The electricity system […]
Petrobras Strategy Slows Gas Market Opening: Sources
(Argus, 6.Sep.2021) — Brazilian natural gas pipeline distributors and other gas buyers say state-run company Petrobras is making it more difficult to sign short-term supply contracts, discouraging the opening of the country’s gas market. Petrobras said on 3 May it would offer six-months and one-year gas supply contracts in addition […]
Brazilian Congress Approves Decree Related To Health Benefits
(Petrobras, 2.Sep.2021) — The Brazilian Congress approved yesterday the Legislative Decree that suspends the effects of CGPAR Resolution No. 23, a rule that was in effect since 26 January 2018 and established, among other issues, guidelines and parameters for the federal state-owned companies’ funding of employees’ health care benefits. The […]
Petrobras Concludes TOR For Stake In Lapa Field
(Petrobras, 1.Sep.2021) — Petrobras, following up on the release disclosed on 21 December 2018, informs that it has finalized the transfer of rights of its 10% interest in the Lapa field to TotalEnergies. The operation, which also involves the assignment of the totality of the interest held by Petrobras Netherlands […]
Bolsonaro Says Has Discussed Fuel Prices With Petrobras
(Reuters, 31.Aug.2021) — Brazilian president Jair Bolsonaro said in an event in the state of Minas Gerais that he has discussed the reason for high fuel prices with the CEO of state-controlled oil company Petroleo Brasileiro SA. Bolsonaro said Petrobras debt to acquire refineries abroad is ‘almost paid’ and the […]
Bahia LNG Import Terminal Leasing Deal Advances
(Energy Analytics Institute, 26.Aug.2021) — Brazil’s state oil company Petrobras said the leasing process for the LNG Regasification Terminal of Bahia (TR-BA) and associated facilities continues to move forward with Excelerate Energy Comercializadora de Gás Natural Ltda. advancing to the qualification stage. Effectively, the “verification stage of the effectiveness of […]
Excelerate Energy Advances On Leasing Of Bahia LNG Terminal
(Excelerate, 26.Aug.2021) — Excelerate Energy L.P. successfully concluded with PetrĂłleo Brasileiro S.A. (Petrobras) the negotiation stage of the tender process for the lease of Bahia Regasification Terminal. Once the financial and legal qualification and certification stages have been concluded and all necessary regulatory approvals have been obtained, Excelerate will start […]
Petrobras Pays Dividends
(Energy Analytics Institute, 25.Aug.2021) — Brazil’s state owned PetrĂłleo Brasileiro S.A. (Petrobras) made a payment today which relates to the first installment of the remuneration anticipation to shareholders related to fiscal year 2021, the company announced 25 August 2021 in an official statement. The gross amount distributed of R$ 21,000,003,096.30 […]
Petrobras Inks Deal To Divest REMAN Refinery
(Petrobras, 25.Aug.2021) — Petrobras signed today with the company Ream Participações S.A., a corporate company owned by the partners of Atem’s Distribuidora de PetrĂłleo S.A. (Atem), a contract to sell the shares of the company that will own the Isaac Sabbá Refinery (REMAN) and its associated logistics assets, in the […]
Petrobras On RNEST Divestment
(Petrobras, 25.Aug.2021) — Petrobras says interested parties in the sale process of the Abreu e Lima Refinery (RNEST) formally declined to submit a binding proposal for the purchase of the refinery. Therefore, the company is carrying out the internal procedures to end the sale process underway and will evaluate its […]
Braskem Offering Back On The Table
(Bloomberg, 19.Aug.2021) — A public equity offering is again emerging as a possible exit strategy for the controlling shareholders in one of the world’s top petrochemical makers, Braskem SA, people familiar with the matter said. Novonor hired Morgan Stanley as the group previously known as Odebrecht looks to sell its […]
LatAm Briefs: YPF Debt, Petrobras Taxes
(Energy Analytics Institute, 13.Aug.2021) — Energy briefs from the Latin America and Caribbean region including: YPF reducing its total debt, Petrobras’ tax collections to the government, Exxon’s Liza Unity FPSO prepares to leave Singapore, National Enterprises Limited (NEL) writes down the fair value of its indirect stake in Atlantic LNG […]
Petrobras Hires JPMorgan To Sell Braskem Stake
(Reuters, 5.Aug.2021) — Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) has hired JPMorgan Chase & Co (JPM.N) as adviser to sell its stake in petrochemical company Braskem SA (BRKM5.SA), three sources familiar with the matter said. Earlier on Thursday, Petrobras executives said in a conference call with investors that […]
Petrobras Beats Estimates
(Reuters, 4.Aug.2021) — Brazil’s Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company’s bottom line. In an evening securities filing, Petroleo Brasileiro SA, as the company is formally known, reported a quarterly net income of 42.855 […]
Petrobras On Refinery Sales Deadlines
(Petrobras, 30.Jul.2021) — Petrobras has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to […]
Petrobras Inks Deal To Divest Power Companies
(Petrobras, 29.Jul.2021) — Petrobras, following up on the release disclosed on 11 September 2020, signed contracts for the sale of its 20% stakes in TermelĂ©trica Potiguar S.A. (TEP) and 40% in Companhia EnergĂ©tica Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM […]
S&P Upgrades Petrobras’ Credit Profile
(Petrobras, 28.Jul.2021) — Petrobras informs that the rating agency S&P Global Ratings raised its stand-alone credit profile (intrinsic risk) by one notch, from “bb” to “bb+”. The agency affirmed the global scale rating of the company’s corporate debt at “BB-“, two levels below the stand-alone credit profile, due to Brazil’s […]
Petrobras Inks Contract To Divest Gaspetro
(Petrobras, 28.Jul.2021) — Petrobras, following up on the releases disclosed on 10 June 2020 and 30 December 2020, informs that it has signed a contract with the company Compass Gás e Energia S.A. for the sale of all its stake (51%) in Petrobras Gás S.A. (Gaspetro). The sale value is […]
Petrobras On Favorable Labor Lawsuit
(Petrobras, 28.Jul.2021) — Petrobras informs that, on this date, it became aware of a favorable decision handed down by the Minister Reporter of the Federal Supreme Court, in appeals filed against the decision of the Superior Labor Court on the review of the methodology for calculating the Minimum Compensation Per […]
Petrobras Highlights 2Q:21 Output, Sales
(Petrobras, 22.Jul.2021) — In 2Q21, Petrobras continued to operate safely and had a solid operating performance, despite the persistence of the pandemic scenario. The average production of oil, NGL and natural gas reached 2.80 MMboed, 1.1% above 1Q21, due to the continued ramp-up of platforms P-68 (BerbigĂŁo and Sururu fields) […]
Petrobras Finalizes Sale Of Rio Ventura Cluster
(Petrobras, 14.Jul.2021) — Petrobras, following up on the release disclosed on 21 August 2020, informs that today it has concluded the sale of its total interests in eight onshore exploration and production fields, jointly called Rio Ventura Cluster, located in the state of Bahia, to 3R Rio Ventura S.A., a […]
Petrobras Inks Itapu Coparticipation Deal
(Petrobras, 12.Jul.2021) — Petrobras signed with PrĂ©-sal PetrĂłleo S.A. (PPSA) the Itapu Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Contract (ToR) and the Production Sharing Contract (PSC) for the Suplus of the Transfer of Rights for the Itapu field, in the Santos Basin pre-salt area. […]
Sonangol, Petrobras Reveal Teaser For Potiguar Basin Stakes
(Petrobras, 9.Jul.2021) — Petrobras started the opportunity disclosure stage (teaser) for the sale, together with Sonangol Hidrocarbonetos Brasil Ltda., of the total stakes of 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 of Rio Grande do Norte. […]
Brazil’s Lower-Sulphur Fuel Booms In Asia
(Reuters, 1.Jul.2021) — Brazil is growing its marine fuel oil exports to Asia’s lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data. Fuel oil exports are the second largest source of energy revenue for most […]
Petrobras On Divestment Of Interest In Deten
(Petrobras, 28.Jun.2021) — Petrobras, following up on the release disclosed on 2 June 2021, related to the sale of its 27.88% interest in Deten QuĂmica S.A., postponed to 8 July 2021 the deadline to execute the Confidentiality Agreement and the Compliance Certificate and grant access to the Confidential Information Memorandum […]
Petrobras Starts Contracting For Hydrotreatment Unit
(Petrobras, 28.Jun.2021) — Petrobras started an international bidding process, in EPC (engineering, procurement and construction) mode, for the implementation of a new diesel hydrotreatment unit and the necessary auxiliary systems, aiming at adapting and modernizing the refining park at the PaulĂnia Refinery (REPLAN). With this project, REPLAN will be able […]
Petrobras On Technip Group Leniency Deal
(Petrobras, 25.Jun.2021) — Petrobras, following up on the release disclosed on 26 June 2020, informs that it received the third, and last, installment, in the amount of R$271.1mn, of the leniency agreement entered into by Technip Brasil and Flexibras (companies of the Technip Group). Petrobras had already received the first […]
Petrobras On LNG Regasification Terminal Leasing
(Petrobras, 21.Jun.2021) — Petrobras, following up on the releases disclosed on 1 October 2021 and 16 April 2021 informs that on 14 June 2021, a public session was held to open the commercial proposals of the bidders interested in leasing the Bahia LNG Regasification Terminal (TR-BA) and associated facilities, with […]