(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 […]
Tag: Petrobras
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. *** © […]
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 […]
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 ($101 million) to settle its involvement in the ‘Car Wash’ corruption case, Braskem said on Monday in a filing. The sprawling corruption investigation known as Car Wash uncovered […]
Petrobras Sets June Deadline For Liquigas Non-Binding Offers: Source
(Reuters, Carolina Mandl, 27.May.2019) — Brazilian state-controlled oil company Petroleo Brasileiro SA has set a June 7 deadline to receive non-binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, one source with knowledge of the matter said. Petrobras, as the oil company is known, has been selling assets […]
Petrobras Names Nivio Ziviani To Board Of Directors
(Petrobras, 21.May.2019) — Petrobras announced its Board of Directors, at a meeting held yesterday, approved the nomination by the controlling shareholder of Mr. Nivio Ziviani to the position of member of the Company’s Board of Directors. This nomination will be submitted tothe deliberation of the next General Shareholders’ Meeting that […]
Petrobras Updates On Change Of ADR Programs Custodian
(Petrobras, 21.May.2019) — Petrobras says the Brazilian Securities and Exchange Commission (CVM) has approved the change of the custodian bank of its ADR programs for common and preferred shares, which will be the responsibility of Banco Bradesco S.A. The remaining characteristics of the ADR programs will remain unchanged: •Depositary Bank: […]
Petrobras Approves Amendment To Transfer Of Rights Agreement
(Petrobras, 21.May.2019) — Petrobras says its Board of Directors approved the execution of the Amendment to the Transfer of Rights Agreement pursuant to the National Council of Energy Policy, Resolution No. 5, of April 9, 2019. The amendment provides for the reimbursement of US$ 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 […]
Petrobras Removes Three Banks From BR Distribuidora Privatization
(Reuters, Gram Slattery and Carolina Mandl, 17.May.2019) — Brazilian state-run oil firm Petroleo Brasileiro SA has removed three banks from the privatization process of fuel distribution unit Petrobras Distribuidora, four sources with knowledge of the matter told Reuters this week. BR Distribuidora, as the unit is known, is among the […]
LatAm’s Gasoline Problems: Mexico And Brazil Diverge In Fuel Balance Strategy
(WoodMac, 15.May.2019) — The two dominant players in Latin American oil and gas – Petrobras and Pemex – should face negative net gasoline balance for decades to come. This makes the two NOCs the most important Latin American importers of US gasoline, granted that Brazil’s deficit is mitigated by its […]
Petrobras Awards McDermott EPCI Contract For Sepia Field Offshore
(McDermott, 14.May.2019) — McDermott International, Inc. announced the award of a significant* contract by Petrobras for engineering, procurement, construction and installation of subsea risers and flowlines for the first phase of the Sepia field, located 174 miles (280 kilometers) from the Rio de Janeiro coastline in Brazil. The project scope […]
Mexico’s Rising Oil Nationalism Faces Debt-Rating Crisis
(Reuters, Stefanie Eschenbacher and David Alire Garcia, 14.May.2019) — Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country’s oil wealth. The leftist oil nationalist’s ambitions […]
Petrobras Announces Teaser For Sale Of Breitener Energética S.A.
(Petrobras, 13.May.2019) — Petrobras reports that it has started the opportunity disclosure stage (Teaser) relating to the sale of its 93.7% interest in Breitener EnergĂ©tica S.A. Breitener EnergĂ©tica has two Thermoelectric Units (UTE), UTE Breitener Tambaqui S.A. and UTE Breitener Jaraqui S.A., located in Manaus, totaling 315 MW of installed […]
Petrobras Updates On Divestment Of Liquigás: Start Of Non-Binding Phase
(Petrobras, 10.May.2019) — Petrobras, following up on the release dated 04/09/2019, announces the beginning of the non-binding phase related to the sale of Liquigás Distribuidora S.A. At this stage of the project, the interested parties who have signed the Confidentiality Agreement will receive a detailed memorandum containing more information about […]
Petrobras Updates On Studies Related To Sale Of Shares By Caixa
(Petrobras, 10.May.2019) — Petrobras informs that it received the Official Letter No. 288/2019-SLS, which requests the following clarification:Official Letter nÂş 288/2019-SLS “Dear Gentlemen, In a news report issued by AgĂŞncia Estado – Broadcast, on 05-09-2019, under the heading “Petrobras informs SEC that Caixa can sell up to 241.3 million shares […]
Earnings Call Transcript For Petrobras’ 1Q:19 Results
(Motley Fool, 10.May.2019) — Brazil’s Petrobras reported first quarter 2019 earnings call transcript can be found below. Earnings Call Transcript For Petrobras’ 1Q:19 Results Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning, ladies and gentlemen. Welcome to Petrobras’ webcast conference call with analysts and investors […]
Petrobras Throws Out Printers As CEO Focuses On Cost Cutting
(Bloomberg, Sabrina Valle and Peter Millard, 9.May.2019) — Soon after taking over as chief executive officer of Brazil’s state-controlled oil giant Petrobras, Roberto Castello Branco noticed that there was a printer for each employee in a department, and ordered a review. It was just the beginning of a crusade against […]
Petrobras Exec Flags Production Boost During Second Quarter
(Reuters, 8.May.2019) — Oil and gas production at Petroleo Brasileiro SA is on the rise in the second quarter, and has been above 2.8 million barrels of oil equivalent per day (boepd) so far in May, a company executive said on Wednesday. In a call with analysts following the release […]
Petrobras Approves Shareholder Remuneration Payment
(Petrobras, 7.May.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total amount of R$ 1,304,420,126.10, corresponding to R$ 0.10 per outstanding common and preferred share. The payment will be made on […]
Brazil’s Petrobras Launches New Investor Relations Website
(Petrobras, 7.May.2019) — Petrobras informsthat it launched a new InvestorRelations website, featuring an easier and more intuitive navigation and a modern layout, aligned with the best market practices on disclosure of information and results. In addition to rearranging content and including new tools, we sought to facilitate the collection of […]
YPF Eyes Increasing Interest In Mega To 72% With Petrobras Acquisition
(Energy Analytics Institute, Aaron Simonsky, 6.May.2019) — YPF announced it’s desire in acquiring Petrobras’ 34% interest in gas separator Mega, after the Brazilian company announced plans to divest its holding. In a conference with investors, YPF said it was interested in acquiring Petrobras’ participation, and that evaluations have already begun […]
Ecopetrol Updates Details of Farm-in To Saturno Block In Brazil
(Energy Analytics Institute, Aaron Simonsky, 3.May.2019) — Colombia’s state oil company Ecopetrol reportedly has updated on its farm-in in the Saturno block in Brazil. Partners in the block include: Ecopetrol (10% WI), Shell (45% WI) and Chevron (45% WI), reports online media Brasil Energia PetrĂłleo‏. Limited access to the website […]
Petrobras Completes Pasadena Refinery Sale To Chevron
(Petrobras, 1.May.2019) — Petrobras, following up on the release disclosed on 01/30/2019, informs that it has completed, through its subsidiary Petrobras America Inc. (PAI), the sale to Chevron USA Inc. (Chevron) of 100% of its shares in the companies that encompass Pasadena’s entire refining operations system in the United States. […]
Petrobras Announces Release Date Of 1Q:19 Results
(Petrobras, 30.Apr.2019) — Petrobras will release 2019 first quarter results (1Q19) on May 7, after the closing of the market in Brazil (B3). On May 8 will be held two teleconferences/webcasts (Portuguese and English) to present its results to the company’s analysts and investors. The first, in Portuguese, will be […]
Petrobras Presents Strategic Plan For Guyana’s Oil And Gas Sector
(Stabroek News, 30.Apr.2019) — Representatives of the majority-state-owned Brazilian oil company, Petrobras yesterday presented a five-year strategic plan for Guyana’s oil and gas industry, which includes technical assistance, export and import services and training, according to a statement from the Department of Public Information (DPI). The plan was presented to […]
Brazil’s Petrobras Files Reference Form 2018
(Petrobras, 30.Apr.2019) — Petrobras reports that it filed today the Reference Form (“Formulário de ReferĂŞncia”) for the financial year 2018 with the Securities and Exchange Commission of Brazil (ComissĂŁo de Valores Mobiliários, “CVM”), in compliance with CVM Instruction no. 480/09. The Reference Form can be accessed over the internet on […]
Petrobras Uruguay Says Not Willing To Accumulate Damages, Losses
(Energy Analytics Institute, Aaron Simonsky, 29.Apr.2019) — Petrobras Uruguay commented on announcements made from Petrobras’ headquarters in Rio de Janeiro, Brazil. “Petrobras Uruguay will continue to develop its business and comply with obligations assumed with employees, customers and suppliers,” reported online media La Red 21. Regarding gas distribution, Petrobras Uruguay […]
Petrobras BODs Gives Thumbs Up To Potential Refinery Sales
(Petrobras, 26.Apr.2019) — Petrobras announced that the Board of Directors, in a meeting held today, approved  new guidelines for the management of its asset portfolio. The guidelines are in line with the Resilience Plan, released on 03/08/2019, being part of the preparation process of the 2020-2024 Business and Management Plan, […]