(Petronas, 26.Apr.2019) — Petronas through its subsidiary, Petronas Petróleo Brasil Ltda. (PPBL) entered into a Sale and Purchase Agreement (SPA) with Petróleo Brasileiro S.A. (Petrobras), Brazil’s petroleum multinational corporation, for a 50% equity in the Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both […]
Tag: Petrobras
Petrobras Inks Three Deals To Divest Of Assets Worth US$10.3 Billion
(Petrobras, 25.Apr.2019) — Petrobras informs that today it executed three sale and purchase agreements to sell assets in the total amount of US$ 10.3 billion (about R$ 40 billion). In 2019, considering the signed transactions and the closed one, the total amount of asset sales is US$ 11.3 billion. “Today […]
Petrobras Sets Aside R$1.3bn For Litigation Involving Sete Brasil
(Petrobras, 25.Apr.2019) — Petrobras informs, within its ongoing process of assessment of contingencies, that it will provision R$ 1.3 billion as a result of the current stage of litigation involving the company Sete Brasil. The company, which is a victim of the facts verified by Operation Car Wash, continues defending […]
Petrobras Clarifies News Of Agreement With Lava-Jato Task Force
(Petrobras, 25.Apr.2019) — Petrobras informs that it received the Official Letter No. 141/2019/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No 141/2019/CVM/SEP/GEA-1 “Dear Executive Officer, We refer to the Relevant Fact published by the issuer on 09-27-2018, the Market Communication of 01-30-2011, and the report published on 03-13-2019 by the […]
Petrobras Names New Chief Financial And Investor Relations Officer
(Petrobras, 24.Apr.2019) — Petrobras informs that its Board of Directors, at a meeting held today, elected Ms. Andrea Marques de Almeida as the Company’s Chief Financial and Investor Relations Officer. Andrea is scheduled to take office on 05/02/2019. Andrea Almeida is a production engineer, with an MBA in Finance from […]
Petrobras Says BOD Approves Voluntary Severance Program
(Petrobras, 24.Apr.2019) — Petrobras reports that its Board of Directors has approved a new Voluntary Severance Program – PDV. Employees of Petrobras holding who are retired through the INSS (Brazilian Social Security Institute) by June 2020, when the enrollment ends, will be eligible. The purpose of the Program is to […]
Petrobras Updates On Auction Of Transfer Of Rights Excess Volumes
(Petrobras, 24.Apr.2019) — Petrobras following up on the release dated 04/09/2019, informs that, on 04/18/2019, the Resolution of the National Council of Energy Policy (CNPE) No. 6 was published, setting forth the parameters for the bidding of the Transfer of Rights Agreement excess volumes under the Production Sharing regime, being […]
Petrobras Appoints New Executive Manager Over IR Department
(Petrobras, 24.Apr.2019) — Petrobras informs that its Board of Directors, at a meeting held today, approved the appointment of Ms. Carla Dodsworth Albano Miller to the position of Investor Relations Executive Manager. Carla Albano holds a bachelor’s degree in economics from PUC-Rio, with a master’s degree in Business and Finance […]
New Chief Vows To Keep Petrobras Free From Political Meddling
(Ft.com, Bryan Harris and Andres Schipani, 24.Apr.2019) — Castello Branco knows Brazil oil group needs to show autonomy to regain investor trust. Roberto Castello Branco, the new chief of Brazilian oil company Petrobras, was thousands of kilometres away from his desk, at a conference in Chicago, when he faced his […]
Petrobras Says Daily Gasoline And Diesel Prices Available On Website
(Petrobras, 22.Apr.2019) — Petrobras informs that as of today, the daily prices of gasoline and diesel in each of its points of sale throughout the national territory are available on its website www.petrobras.com.br. ***
Petrobras Reports Resignation Of Member Of Board Member Antunes
(Petrobras, 18.Apr.2019) — Petrobras reports that Board member Jerônimo Antunes submitted his resignation from the Board of Directors of the company, as well as from the Board’s Committees in which he participated, due to personal reasons. The company awaits the controlling shareholder to appoint the new member, who will be […]
Petrobras Confirms Extension Of Accumulation In Moita Bonita Area
(Petrobras, 18.Apr.2019) — Petrobras announces that it has completed the drilling of the well 3-SES-192 (Petrobras nomenclature) / 3-BRSA-1367-SES (ANP nomenclature)l in the area known as Moita Bonita, located in the BM-SEAL-4 concession, 80 km from the city of Aracaju, at a water depth of 2,629 meters. The results of […]
Brazil Sets October Oil Auction Signing Bonus Of $26.9 Bln – Minister
(Reuters, 17.Apr.2019 — Brazil’s government will require a signing bonus of 106 billion reais ($26.9 billion) in an Oct. 28 auction of excess oil from the so-called transfer-of-rights area in the pre-salt fields, Economy Minister Paulo Guedes said on Wednesday. Companies bidding would also have to compensate state-run oil company […]
Petrobras Increases Diesel Price
(Petrobras, 17.Apr.2019) — Petrobras has decided to increase the diesel price by R$ 0.10/liter, which implies a minimum variation of 4.518% and a maximum of 5.147% in its 35 points of sale in Brazil. This increase will be effective as of tomorrow, 04/18/19. The price established by Petrobras represents, on […]
Petrobras Informs About Studies Of Caixa Econômica Federal To Sell Its Shares
(Petrobras, 17.Apr.2019) — Petrobras says it has received correspondence from Caixa Econômica Federal informing that it is studying the possibility of selling shares that they hold issued by Petrobras, having formed a syndicate of financial and legal advisors to evaluate viable alternatives, with the possibility of holding a secondary public […]
Brazil To Auction Oil Camps Despite Environmental Warnings
(AP, Peter Prengaman and Mauricio Savarse, 13.Apr.2019) — The administration of President Jair Bolsonaro plans to auction seven offshore oil fields in the northeast despite contrary advice from analysts of Brazil’s main environmental body, according to documents obtained by the Associated Press. Environmentalists say it’s the latest example of how […]
Petrobras Updates On Diesel Price Readjustment
(Petrobras, 12.Apr.2019) — Petrobras informs that, in line with its strategy for diesel price readjustments, announced on 03/26/19, it revisited its hedge position and evaluated, throughout the day, with the closing of the market, that there is space to extend some days the diesel readjustment. The company reaffirms the maintenance […]
Petrobras Price Move Damages Bolsonaro’s Pro-Business Stance
(Bloomberg, Simone Preissler Iglesias and Sabrina Valle, 12.Apr.2019) — A conversation lasting less than 20 minutes was enough to put the neo-liberal credentials of Brazil President Jair Bolsonaro’s government in question. Bolsonaro and his Chief of Staff Onyx Lorenzoni suspended oil giant Petrobras’ diesel price increase late Thursday after that […]
Brazil To Pay Petrobras $9B In Oil Contract Settlement
(SeekingAlpha, Carl Surran, 10.Apr.2019) — Brazil’s government will pay $9.06B to Petrobras for revising the contract for the transfer of rights area, Energy Minister Albuquerque announced late yesterday. The resolution opens the way for an Oct. 28 auction to develop excess oil reserves beyond the 5B barrels the company is […]
Brazil’s Petrobras Announces Final Tender Results
(Petrobras, 9.Apr.2019) — Petrobras announced the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on April 8, 2019 (the “Expiration Date”) holders of US$1,867,021,000 and €371,098,000 principal amount of the outstanding notes of the series set forth in […]
Petrobras Informs On Sale Of Liquigás: Publication Of The New Teaser
(Petrobras, 9.Apr.2019) — Petrobras, following up on the press release disclosed on 04/05/2019, regarding the competitive sale process of 100% of Liquigás Distribuidora SA, informs that the new Teaser, which contains the main information about the opportunity, as well as wider eligibility criteria for the selection of potential participants, is […]
TechnipFMC Inks Significant Subsea Deal For The Lapa Pre-Salt Field In Brazil
(Energy Analytics Institute, Aaron Simonsky, 9.Apr.2019) — TechnipFMC said it has been awarded a significant contract for the Lapa field by Total E&P do Brasil Ltda., on behalf of the Lapa Field Consortium, comprised of Total (35% WI), Shell Brasil Petróleo Ltda. (30% WI), Repsol Sinopec Brasil S.A. (25% WI) […]
Petrobras Updates On National Council of Energy Policy (CNPE)
(Petrobras, 9.Apr.2019) — Petrobras informs that became aware of the CNPE announcement regarding the revision of the Transfer of Rights Agreement in reference to their meeting held today. According to the CNPE statement, Petrobras will be compensated by US$ 9,058 billion (nine billion and fifty eight million dollars) due to […]
Petrobras Announces TAG Sale Offer
(Petrobras, 5.Apr.2019) — Petrobras informs that, in the scope of the competitive sale process of 90% of Transportadora Associada de Gás SA (“TAG”), ENGIE group, jointly with the Canadian investment fund Caisse de Depot and Placement du Quebec (“CDPQ”), presented the best proposal, representing an Enterprise Value of R$ 35.1 […]
GeoPark Limited Awarded Espejo And Perico Blocks In Ecuador
(SeekingAlpha, 18.Mar.2019) — On March 13, 2019, GeoPark Limitedentered the Ecuador upstream by winning the Espejo and Perico blocks in the Oriente Basin in the Intracampos Bid Round (Fig. 1). GeoPark formed a 50:50 consortium with Frontera Energy Corporation in the participation of the bid round. The final award is […]