(Argus, 18.Jun.2021) — Brazilian natural gas production in May rose by nearly 18pc from a year earlier and by more than 2pc from the prior month. Output reached 134mn mÂł/d (4.75 Bcf/d) in May, preliminary data from Brazil’s oil and gas regulator ANP shows. The country’s record production level set […]
Tag: Petrobras
Petrobras Inks Deal For The 8th BĂşzios Unit
(Petrobras, 11.Jun.2021) — Petrobras signed a contract with the joint venture formed by Saipem and DSME in the amount of $2.3bn for the supply of P-79, the eighth unit to be installed in BĂşzios field, in the Santos Basin pre-salt area. With capacity to process 180,000 barrels of oil per […]
Petrobras Reveals Final Results And Settlement Of Cash Tender Offers
(Petrobras, 11.Jun.2021) — Petrobras (NYSE: PBR) announced the final results and settlement of the previously announced cash tender offers by its wholly-owned subsidiary, Petrobras Global Finance B.V. (PGF), with respect to any and all of PGF’s outstanding notes of the series set forth in the table below (the “Notes” and […]
Petrobras Inks BĂşzios Coparticipation Deal
(Petrobras, 11.Jun.2021) — Petrobras signed with PrĂ©sal PetrĂłleo S.A. (PPSA) and its partners CNODC Brasil PetrĂłleo e Gás Ltda. (CNODC) and CNOOC Petroleum Brasil Ltda. (CNOOC) the BĂşzios Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Agreement and the Production Sharing Contract for the Suplus of […]
Petrobras Clarifies Doubts Around Sale Of Petrobras Distribuidora Stake
(Petrobras, 10.Jun.2021) — Petrobras, regarding the pieces of news published in the media concerning the sale of its entire remaining 37.5% stake in the capital of Petrobras Distribuidora S.A. (BR), clarifies that, as disclosed on 26 August 2020, the company’s Board of Directors approved, on that date, the mentioned operation, […]
Petrobras On Sapinhoá Seismic Acquisition
(Petrobras, 9.Jun.2021) — Petrobras will start on 13 June 2021 the first of the two seismic acquisitions of the Sapinhoá field monitoring project, in the pre-salt of the Santos Basin. Seismic acquisition is an important tool for managing the deposit (reservoirs) and optimizing production systems, seeking to maximize the value […]
Petrobras On RLAM Divestment
(Petrobras, 9.Jun.2021) — Petrobras, following up on the release disclosed on 24 March 2021, informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) approved the transaction for the sale of Landulpho Alves Refinery (RLAM) to Mubadala Capital. The transaction is still subject to the elapse of […]
Petrobras On Divestment Of Route 1, 2 And 3 Gas Pipelines
(Petrobras, 9.Jun.2021) — Petrobras, regarding the piece of news published in the media about the divestment of the Routes 1, 2 and 3 gas pipelines, clarifies that it is untrue that the company has defined the sales model for these assets and the percentages to be sold. Petrobras, as part […]
Enbridge, Fluxys, EIG Bid For Brazil’s Top Import Pipeline: Sources
(Reuters, 21.May.2021) — A consortium of Canada’s Enbridge, Belgium’s Fluxys and U.S. private equity firm EIG Global Energy Partners has submitted a non-binding offer for Brazil’s largest natural gas import pipeline, three people with knowledge of the matter told Reuters this week. Petroleo Brasileiro SA, as Brazil’s state-run oil company […]
Petrobras’s 1Q:21 Earnings Call Transcript
(Motley Fool, 14.May.2021) — Brazil’s state oil and gas company Petrobras hosted its first quarter 2021 conference call. What follows is a complete transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Carla Dodsworth Albano Miller — Investor Relations Executive Manager Good morning, everyone. Welcome […]
Petrobras On Record S-10 Diesel Sales
(Petrobras, 13.May.2021) — Petrobras reports that in April it registered total diesel sales of around 824,000 bpd, representing 59% growth in comparison with sales in April 2020. In the comparison with April 2019, without the impacts on demand resulting from the pandemic, there was a growth of 12%. Also in […]
Ecopetrol Names New Exploration VP
(Ecopetrol, 11.May.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that Jorge Arturo Calvache, Vice-President of Exploration has decided to retire as of 1 June 2021. The company acknowledges and thanks Jorge for his leadership and contribution managing Ecopetrol’s Exploration business during the past two years. In his replacement, Elsa Jeanneth […]
Petrobras On Deal With Companhia De Eletricidade Do Amapá
(Petrobras, 11.May.2021) — Petrobras informs that it has signed with the Companhia de Eletricidade do Amapá (CEA), a legal agreement for the termination of litigation and credit recovery by Petrobras, recognized in the amount of R$314mn. The agreement establishes the payment to Petrobras of R$132.6mn unconditionally, to be settled in […]
Petrobras On TermoCamaçari Thermal Power Plant
(Petrobras, 11.May.2021) — Petrobras, following up on the release disclosed on 16 March 2021, informs that the negotiation with the company Proquigel QuĂmica S.A. for the leasing of the TermoCamaçari Thermoelectric Plant (UTE TermoCamaçari), located in the state of Bahia, has ended unsuccessfully. Thus, the company will begin the decommissioning […]
Petrobras Divests Stake In Rabo Branco Field In Sergipe
(Petrobras, 10.May.2021) — Petrobras, following up on the release disclosed on 11 December 2020, signed with Petrom Produção de PetrĂłleo & Gás Ltda. a contract for the sale of its entire 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe. […]
Petrobras Inks Deal For 7th BĂşzios Unit
(Petrobras, 10.May.2021) — Petrobras signed a contract with Keppel Shipyard Limited to build the P-78, the seventh unit to be installed in the BĂşzios field, in the Santos Basin pre-salt area. With processing capacity of 180 thousand barrels of oil per day and 7.2 million cubic meters of gas per […]
Brazil LNG Demand Heading For Record Year
(Argus, 10.May.2021) — Brazil is on track to import a record volume of LNG this year because of persistent dry weather coupled with the commissioning of new LNG-to-power projects. As arid conditions dragged on into April, the electricity sector monitoring committee (CMSE) cleared the dispatch of thermoelectric plants and electricity […]
PetroRio Eyeing Assets Beyond Petrobras’ Albacora Field-CEO
(Reuters, 4.May.2021) — Brazilian oil company PetroRio is still interested in acquiring the Albacora field in the Campos Basin from Petrobras, but is also eyeing other offshore assets, the company’s chief executive, Roberto Monteiro, said on Tuesday. The offer phase for Albacora is expected to be in July, Monteiro said […]
Petrobras Launches New Natural Gas Sales Products
(Petrobras, 3.May.2021) — Petrobras approved new contractual models for the sale of natural gas to distributors. The company will offer, in addition to the existing models, indexed to Brent oil price, a pricing alternative with less volatility, without giving up the alignment with international prices. The new model will be […]
Petrobras Commences Binding Phase For Divestment Of TBG And TSB
(Petrobras, 30.Apr.2021) — Petrobras, following up on the release disclosed on 5 February 2021, informs the beginning of the binding phase regarding the sale of the totality of its stakes of 51% in Transportadora Brasileira Gasoduto Bolivia-Brasil S.A. (TBG) and 25% in Transportadora Sulbrasileira de Gás S.A. (TSB). Potential buyers […]
Petrobras On Sale Of Braskem
(Petrobras, 30.Apr.2021) — Petrobras, regarding the piece of news published in the media, clarifies that its equity interest in Braskem is part of the non-core assets to divest by the company, as disclosed in the Strategic Plan 2021-2025. However, there is still no definition or decision about the sale model. […]
Petrobras Extends Maturity Of Revolving Credit Line
(Petrobras, 30.Apr.2021) — Petrobras, following up on the release disclosed on 28 March 2019, has extended part of the Revolving Credit Facility (RCF) maturing in March 2024, in the amount of $3.25bn, for two more years. Thus, 63% of the total amount of the credit line, that is, $2.05bn, can […]
Petrobras CEO Nods To Price Parity
(Reuters, 19.Apr.2021) — Joaquim Silva e Luna, the new chief executive of Brazil’s Petrobras, will look to respect the company’s current pricing policy and keep investing in deepwater assets, he said at his swearing-in ceremony on Monday. The comments by the former army general signaled that Petrobras’ incoming administration will […]
LatAm Briefs: Petrobras Swears In CEO, Aker’s Mero 1 Project Update
(Energy Analytics Institute, 19.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Petrobras hosting an inauguration or swearing in ceremony for its new CEO Joaquim Silva e Luna and Aker Solutions in Brazil celebrating the last delivery marking the end of the Mero 1 project. Petrobras Hosts […]
Petrobras Elects CEO, Chief Officers
(Petrobras, 16.Apr.2021) — Petrobras’ Board of Directors, in a meeting held today 16 April 2021, elected Joaquim Silva e Luna to the position of CEO of the company. The Board of Directors, as part of the process of composing the Petrobras´ Board of Executive Officers, also approved the following appointments: […]
Petrobras Board Elects CEO, CFO, New Division Heads
(Reuters, 16.Apr.2021) — The board of Brazil’s Petrobras has officially elected a slate of new executives, including Chief Executive Joaquim Silva e Luna, the state-run oil company said in a securities filing on Friday. The board also elected new heads of the company’s upstream, logistics and production development divisions, as […]
Petrobras On Partial Return Of Libra Area
(Petrobras, 16.Apr.2021) — Petrobras informs that the consortium of Libra, constituted by Petrobras (40%), in partnership with Shell Brasil PetrĂłleo Ltda. (20%), Total E&P do Brasil Ltda. (20%), CNODC Brasil PetrĂłleo e Gás Ltda. (10%) and CNOOC Petroleum Brasil Ltda. (10%), having PrĂ©-Sal PetrĂłleo S.A. (PPSA) as contract manager, notified […]
Petrobras On Leasing Of LNG Regasification Terminal
(Petrobras, 16.Apr.2021) — Petrobras, following up on the release disclosed on 1 October 2020, published today the Call for the second bidding process to lease the Bahia LNG Regasification Terminal (TR-BA) and associated facilities, in the State of Bahia, in line with the Agreement for the natural gas market, entered […]
Petrobras On Resignation Of BODs Member
(Petrobras, 16.Apr.2021) — Petrobras informs that it received today a resignation letter from the member of the Board of Directors, Marcelo Gasparino da Silva, elected through a multiple vote process in the Extraordinary General Meeting of 12 April 2021. In the terms of the resignation letter, the member of the […]
Petrobras On Approval Of Dividend
(Petrobras, 14.Apr.2021) — Petrobras, following up on the release disclosed on 24 February 2021, informs that, in a meeting held today, the Annual General Meeting approved the proposal for allocation of the 2020 fiscal year results forwarded by the Board of Directors, of remuneration to shareholders in the form of […]
Equinor Sees 1H:21 Peregrino Restart
(Reuters, 12.Apr.2021) — Equinor’s Peregrino oilfield off the coast of Brazil is on track to restart in the first half of this year following several delays, a spokesman said on Monday. The heavy oil field in the Campos basin was shut in April last year due to a rupture of […]
Petrobras Shareholders Pave Way For New CEO
(Reuters, 12.Apr.2021) — Shareholders in Brazil’s Petrobras voted on Monday to remove Roberto Castello Branco as CEO, and elected his government-picked successor to the board of directors, but discontent among some investors threatens to drag out the transition process. The dismissal of Castello Branco, while widely expected, is an important […]
At Petrobras, A ‘Spartan’ Military Man Takes The Reins
(Reuters, 12.Apr.2021) — For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected – and unwelcome. President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm […]
Petrobras Pushes Back Mero-1 Start-Up
(Petrobras, 7.Apr.2021) — Petrobras informs that the production expected to start from Mero 1, through FPSO Guanabara, was postponed from the 4th quarter of 2021 to the 1st quarter of 2022. The FPSO will be installed in the Mero field, which belongs to the Libra Block, in the Santos Basin […]
Petrobras Boosts Investments In Northern Brazil
(Petrobras, 6.Apr.2021) — Petrobras announces that it signed agreements with BP Energy do Brasil Ltda (BP) to take over BP’s entire stakes in six blocks, located in ultra-deep water in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin. […]
Petrobras To Boost Natural Gas Price For Distributors
(Petrobras, 5.Apr.2021) — Petrobras informs that as of 1 May 2021, the natural gas sale prices for distributors will increase, by 39% in R$/m3, in relation to the last quarter. Measured in US$/MMBtu, the increase will be 32%. The variation results from the application of the supply contract formulas, which […]
Petrobras Adopts Cautious Fuel Price Approach
(Petrobras, 2.Apr.2021) — Petrobras, regarding the pieces of news published in the media, clarifies that it chose to adopt a more cautious approach in January 2021 and accelerated the fuel prices adjustments in February 2021, when the company became confident that oil and fuel prices would stabilize at a higher […]
Shell Updates On South American Assets In Annual Report
(Shell, 1.Apr.2021) — Shell provided details in its 2020 annual report related to its operations in South America from Argentina, Brazil and Bolivia. What follows is a summary from the report. South America Argentina We have more than 178 thousand net mineral acres in the Vaca Muerta Basin, a liquids- […]
Petrobras Reports Rise In S-10 Diesel Sales
(Petrobras, 1.Apr.2021) — Petrobras informs that in March it recorded total diesel sales in the amount of 791 thousand bpd, representing growths of 35% and 17% when compared to sales in the same month of 2020 and 2019, respectively. Also in March 2021, Petrobras surpassed the sales record for S-10 […]
Petrobras Completes Health Plan Transition
(Petrobras, 1.Apr.2021) — Petrobras, following up on the release disclosed on 29 April 2020, informs that the transition of Petrobras health plan operation was completed. As of April, the Petrobras Health Association (APS) takes over the operation of this benefit, becoming responsible for caring for nearly 280,000 beneficiaries throughout Brazil. […]
Jair Bolsonaro Sparks Political Crisis
(Reuters, 30.Mar.2021) — Brazil will replace the three heads of its armed forces, the Defense Ministry said on Tuesday, as Latin America’s biggest nation, already roiled by the pandemic, faced a growing crisis between President Jair Bolsonaro and the military. The departure of Brazil’s three top military commanders comes a […]
Petrobras Dismisses HR Executive
(Petrobras, 29.Mar.2021) — Petrobras, regarding the pieces of news in the media, clarifies that today the Executive Manager of Human Resources was dismissed from the company for having failed to comply with the Policy of Disclosure of Material Act or Fact and of Securities Trading, which prohibits the negotiation of […]
LatAm Briefs: Petrobras Form 20-F, Ecopetrol Eyes Net Zero
(Energy Analytics Institute, 25.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Brazil’s Petrobras filing its Form 20-F for 2020 and Colombia’s Ecopetrol announcing its commitment and plans to achieve net zero carbon emissions by 2050. Petrobras files 2020 Form 20-F PetrĂłleo Brasileiro S.A. (Petrobras) filed its […]
Petrobras On Arbitration Decision
(Petrobras, 25.Mar.2021) — Petrobras, following up on the releases disclosed to the market on 22 June 2020 and 11 November 2020, announces that it received, on this date, a decision from the Market Arbitration Chamber of B3 (MAC), which granted its challenge and dissolved the Arbitration Tribunal that rendered a […]
Key Petrobras Executives Set To Depart
(Petrobras, 24.Mar.2021) — Petrobras informs that Andrea Almeida, Chief Financial and Investor Relations Officer, Carlos Alberto Pereira de Oliveira, Chief Exploration and Production Officer, AndrĂ© Chiarini, Chief Trading and Logistics Officer, and Rudimar Chief Production Development Officer, informed today to the Board of Directors that they do not intend to […]
Petrobras Inks Deal To Divest RLAM
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company’s shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, […]
Petrobras On Samsung Leniency Deal
(Petrobras, 24.Mar.2021) — Petrobras, following up on the release disclosed on 03/01/2021, informs that it received last week the second, and last, installment, in the amount of $59.4mn, of the leniency agreement entered into by Samsung Heavy Industries. With these values, Petrobras surpasses R$ 5.7bn in funds recovered through collaboration, […]
Petrobras Begins Bahia Terra Cluster Binding Phase
(Petrobras, 19.Mar.2021) — Petrobras, following up on the release disclosed on 23 December 2020, informs the beginning of the binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, located in the RecĂ´ncavo and Tucano Basins, in the state of […]
Petrobras On BODs Nominees
(Petrobras, 18.Mar.2021) — Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports that it has received the nomination of candidate Pedro Rodrigues GalvĂŁo de Medeiros for the Board of Directors, in case multiple voting process is adopted. Board of Directors election will take place at the Extraordinary General Meeting of 12 April 2021. […]
Petrobras On Fiscal Council Nomination
(Petrobras, 18.Mar.2021) — Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports it has received from holders of common shares the nomination of candidates for the Fiscal Council, whose election will take place at the Annual General Meeting of 14 April 2021. Candidates nominated by shareholders FIA Dinâmica Energia and Banclass FIA: Candidate’s […]