Tag: Petrobras
BlackRock Notifies Petrobras Of Relevant Shareholding Position
(Petrobras, 6.Dec.2018) — Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, was notified by BlackRock, Inc. that the latter has acquired preferred shares issued by the company and as of December 4, 2018 it manages share interests of approximately 5% of preferred shares issued […]
Petrobras’ 2019-2023 Business Plan
(Petrobras, 5.Dec.2018) — Petrobras reports that its Board of Directors has approved, in a meeting held yesterday, the 2040 Strategic Plan and the 2019-2023 Business and Management Plan, prepared in an integrated manner. 2040 Strategic Plan The Strategic Plan brings a new vision of an integrated energy company, aligned with […]
Petrobras: 2040 Strategic Plan, 2019-2023 Business And Management Plan
(Petrobras, 5.Dec.2018) — Petrobras reports that its Board of Directors has approved, in a meeting held yesterday, the 2040 Strategic Plan and the 2019-2023 Business and Management Plan, prepared in an integrated manner. 2040 Strategic Plan The Strategic Plan brings a new vision of an integrated energy company, aligned with […]
Petrobras’ Invitation 2040 Strategic Plan & 2019-2023
(Petrobras, 5.Dec.2018) — Petrobras informs that today, Dec. 5, 2018, the company will disclose its 2040 Strategic Plan and 2019-2023 Business and Management Plan. We are pleased to invite you to participate in our teleconference/webcast about the plan, with broadcast in Portuguese and simultaneous translation to English, as follows: December […]
Petrobras Announces Reduction Of Significant Shareholding Interest
(Petrobras, 4.Dec.2018) — Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, informs that it was notified by BlackRock, Inc. that the latter has sold preferred shares issued by the company, and as of November 29, 2018 it manages shareholding interest less than 5% of […]
Petrobras To Pay Interest On Own Capital
(Petrobras, 3.Dec.2018) — Petróleo Brasileiro S.A (Petrobras) is paying today Interest on Own Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The value to be distributed, totaling R$ 1,304,449,693.00, corresponds to a gross amount of R$0.10 per common or preferred share, based on shareholding positions as […]
Petrobras And Murphy Conclude Formation Of GOM Joint Venture
(Petrobras, 3.Dec.2018) — Petrobras, following up on the release disclosed on October 10, 2018, concluded the operation that has resulted in the formation of a joint venture company (JV), of which Murphy Exploration & Production Company has an 80% stake, while Petrobras America Inc (PAI) holds the remaining 20% stake, […]
Petrobras Executes New Contractual Deal Related To Eletrobras Debts
(Petrobras, 3.Dec.2018) — Petrobras, following up on the release published on Apr. 30, 2018, reports that today it executed contractual instruments related to a new agreement negotiated with Centrais Elétricas Brasileiras S.A. (“Eletrobras”) and its subsidiaries Amazonas Energia (“AmE”) e Amazonas Geração e Transmissão (“AmGT”) for the resetting of guarantees […]
Petrobras Reports On End Of Special Committee Activities
(Petrobras, 29.Nov.2018) — Petrobras reports that its Board of Directors approved yesterday the end of the Special Committee set up in December 2014 to provide a reporting line for the independent investigations conducted by Trench, Rossi e Watanabe Advogados and Gibson, Dunn & Crutcher LLP. Likewise, it also approved the […]
Petrobras Announces Adjustment Of Diesel Sale Price
(Petrobras, 29.Nov.2018) — Petrobras, following up on the release disclosed on October 29, 2018 informs that, due to the methodology established in the National Petroleum Agency (ANP) Resolution no. 743 of 8/27/18, the average price of diesel will be R$1.7984 per liter in the period from November 29, 2018 to […]
Perenco Acquires Three Fields In The Campos Basin From Petrobras
(Petrobras, 28.Nov.2018) — Petrobras signed with Perenco the contracts for the full sale of Petrobras’ stake in the fields of Pargo, Carapeba and Vermelho, the so-called Polo Nordeste, located in shallow waters off the coast of Rio de Janeiro state. The Assets The Pargo field was discovered in 1975, and […]
Petrobras Divests Of Stake In 34 Onshore Fields In Rio Grande Do Norte
(Petrobras, 28.Nov.2018) — Petrobras announces that its Board of Directors approved yesterday the full sale of its stake in 34 onshore production fields, located in the Potiguar Basin, in Rio Grande do Norte state, to the company 3R Petroleum. The Assets The 34 concessions are mature fields in production for […]
Petrobras Reports Oil And Natural Gas Output For October
(Petrobras, 27.Nov.2018) — Petrobras informs that in October its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), 2.54 million boed produced in Brazil and 119 thousand boed abroad. The total operated production of the company (Petrobras and […]
Petrobras Updates On CARF Decision Related To Remittances For Vessel Chartering
(Petrobras, 27.Nov.2018) —Petrobras reports that today the Administrative Board of Tax Appeals (CARF) issued a decision against the company in administrative tax proceedings on a total estimated amount of R$ 7 billion, arising from tax assessments drawn up by the Federal Revenue Service for the collection of CIDE (base year […]
Petrobras Offers Clarification Related To Business and Management Plan
(Petrobras, 27.Nov.2018) — Petrobras reports that it has received the Letter No. 1936/2018 -SAE, which requests the following clarification: Letter no. 1936/2018 -SAE “Dear gentlemen, In the news published by Valor Econômico newspaper on 11/27/2018, entitled “Petrobras evaluates 2019-2023 plan,” among other information, it is stated that Petrobras’ BMP 2019-2023 […]
Oil Expert Plaints Adverse Scenario For Bolivia
(Energy Analytics Institute, Ian Silverman, 27.Nov.2018) — Oil expert Mauricio Medinaceli painted an adverse scenario for Bolivia due to the country “doing little or nothing” to replace production in recent years. Besides our natural gas reserves, Bolivia has various weakness including but not limited to the following: poor exploratory management, […]
UAE Urges Brazil To Remove It From ‘Tax Haven’ List
(Arabian Business, 26.Nov. 2018) — UAE says to expand its multi-billion dollar investments in Brazil as long as it’s no longer labeled a tax haven by Latin America’s largest economy The UAE is willing to expand its multi-billion dollar investments in Brazil as long as it’s no longer labeled a […]
Bolsonaro Seeks $30 Billion Brazil Oil Boon
(Bloomberg, Sabrina Valle and Samy Adghirni, 23.Nov.2018) — President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. While Bolsonaro’s transition team argues the sale could net some $30 billion to […]
Total To Buy Businesses From Brazil’s Grupo Zema
(Reuters, 22.Nov.2018) — French energy group Total has agreed to buy some businesses of Brazil’s Grupo Zema to expand in the biofuels sector. Total said it would be buying fuel distribution company Zema Petróleo, reseller and retailer arm Zema Diesel and importation company Zema Importacao. Financial terms were not disclosed. […]
Petrobras To Be Led By Privatisation Advocate
(AP, 21.Nov.2018) — Brazil’s President-elect Jair Bolsonaro named pro-market reformer Roberto Castello Branco, as future chief executive of the country’s state-controlled oil company, Petrobras, on Monday. Castello Branco, a former member of Petrobras’ board, has advocated privatising the oil giant, a measure also supported by his close ally and long-time […]
Brazil, Bolsonaro And Oil: A Future In The Balance
(The National, Robin Mills, 11.Nov.2018) — New president may make unpleasant listening but he says he wants to open up the country’s energy industry, which would be a good thing. New Brazilian president, the far-right Jair Bolsonaro, who takes office in January, has been labelled bad for the environment, human […]
Petrobras Announces Calling Of Extraordinary General Meeting
(Petrobras, 9.Nov.2018) — Petrobras announced, according to the CVM and B3 rules to Level 2 of corporate governance listed companies, calling of General Extraordinary Meeting on Dec. 11, 2018, observed 30 days in advance, to deliberate on the following matters: 1. Proposal to amend Petrobras’ Bylaws to adjust Articles 23, […]
Brazil VP-elect ‘Impressed’ After Meeting With Petrobras Executives
(Reuters, Rodrigo Viga Gaier, Marta Nogueira, 9.Nov.2018) — Brazil’s Vice-President-elect Hamilton Mourão said on Twitter he was “very much impressed” after meeting on Friday with top executives at state-run oil company Petroleo Brasileiro SA , in the midst of uncertainty over the company’s future leadership. The meeting came as President-elect […]
Weatherford Awarded Drillpipe Riser Contract With Petrobras
(Weatherford International, 7.Nov.2018) — Weatherford International announced it has been awarded a four-year contract with a one-year optional extension to provide drillpipe riser (DPR) intervention systems and services for Petróleo Brasileiro S.A. in Brazil. This contract is expected to yield approximately $80 million in revenue during the initial four-year period. […]
Petrobras Invites Investors And Analyst To Participate In 3Q:18 Webcast
(Petrobras, 6.Nov.2018) — Petrobras will disclose its 2018 Third Quarter Results on Tuesday, November 6, 2018, before the opening of the market. The company would like to invite investors and analysts for the conference call/webcast, with broadcast in Portuguese and simultaneous translation to English, as follow: November 6, 2018 (Tuesday) […]
Petrobras BODs Approves Payment Of Interest On Capital
(Petrobras, 6.Nov.2018) — Petrobras announced its Board of Directors approved in a meeting held yesterday distribution of early remuneration to shareholders as Interest on Capital (IOC), as defined in art. 9, sole paragraph of its bylaws and in article 9 of Law 9.249/95. The value to be distributed, in the […]
Petrobras Reports Net Income Of R$23,677 Million In 9M-2018
(Petrobras, 6.Nov.2018) — Petrobras reported net income of R$ 23,677 million in 9M-2018, the best result since 2011 and a growth of 371% compared to the 9M-2017, determined by: – Higher margins in the sales of oil products in Brazil and in exports, both driven by the increase in Brent […]
World’s Most Indebted Oil Company Reports 20-Fold Increase In Profit
(Oilprice.com, Tsvetana Paraskova, 6.Nov.2018) — Brazilian state-run oil firm Petrobras reported on Tuesday a net income for Q3 surging more than 20 times compared to the profit for the same quarter last year on the back of higher oil prices. Petrobras reported a consolidated net income of US$1.77 billion (6.644 […]
Argus Launches Series Of Daily Jet Fuel Prices In Brazil
(Argus, 5.Nov.2018) — Global energy and commodity price reporting agency Argus has launched a series of daily jet fuel prices for the aviation fuel market in Brazil. Local and international airlines continue to invest in the growing Brazilian aviation market, driving the need for an independent reference for delivered jet […]
Bolsonaro To Push Forward Giant Brazil Oil Sale, Adviser Says
(Bloomberg, Sabrina Valle, 4.Nov.2018) — Jair Bolsonaro’s energy team is keen to push for the sale of prized Brazilian crude deposits in an auction that could give Big Oil access to more black gold than all of Mexico’s proved reserves. The plan would be to take bids in mid-2019 to […]
YPFB Makes Initial Shipment Of Nitrogen Fertilizer To Brazil
(Energy Analytics Institute, Aaron Simonsky and Ian Silverman, 2.Nov.2018) — YPFB made its initial shipment of nitrogen fertilizer from Puerto Quijarro, in late October, to Baurú, a city located in the state of Sao Paulo in Brazil. “The importance of this milestone lies in the speed with which YPFB’s urea […]
Petrobras Inks Deal to Divest Of Petrobras Oil & Gas B.V.
(Petrobras, 31.Oct.2018) — Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (PIBBV) signed a Sale and Purchase Agreement (SPA), related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (PO&GBV) to Petrovida Holding B.V., a company […]
Petrobras Postpones Mothballing Of Sergipe And Bahia Fertilizer Plants
(Petrobras, 31.Oct.2018) — Petrobras, following up on the release disclosed on Mar. 28, 2018, informs that it postponed until Jan. 31, 2019 the mothballing of the fertilizer plants located in Sergipe (Fafen-SE) and Bahia (Fafen-BA). The company continues to evaluate alternatives to the mothballing with government representatives and industry federations […]
Petrobras Updates On Debt Pre-Payment With Banco Santander
(Petrobras, 31.Oct.2018) — Petrobras prepaid a debt with Banco Santander in the amount of $1 billion, due 2023. Simultaneously, it signed with the same institution a new line of credit worth $750 million, due October 2028 and with more competitive financial costs. These transactions are in line with the company’s […]
AMLO’s Bad Start: Fitch Revises Mexico Outlook To Negative
(Forbes, Kenneth Rapoza, 31.Oct.2018) — Prognosis negative for Mexico. So says Fitch Ratings. After a no vote on a new airport was reached yesterday in a referendum that president-elect Andrés Manuel López Obrador (aka AMLO) put on a special ballot, investors turned a bit sour. Elected this summer, AMLO takes […]
Petrobras Announces $1.4bn Sale Of African Oil Business
(Ft.com, Andres Schipani, Neil Hume, 31.Oct.2018) — Brazil’s state-controlled oil company Petrobras agreed to sell its 50 per cent stake in an African enterprise to a consortium led by trader Vitol, the world’s biggest independent energy trader. Vitol and its partners, Africa Oil Corp and Delonex Energy, will pay $1.4bn […]
Petrobras Stops Chevron Plan To Drill In Brazil Offshore Block: Sources
(Reuters, Alexandra Alper, Marta Nogueira, 30.Oct.2018) — A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp’s plan to resume exploration in a Brazilian offshore field, people familiar with the matter said. Chevron, which operates the field with a 52 percent stake, approved the drilling […]
Petrobras Updates On Diesel Price Subvention Program
(Petrobras, 29.Oct.2018) — Petrobras, following up on the release disclosed on Sep. 28, 2018, informs that, due to the methodology determined in the National Petroleum Agency (ANP) Resolution nº 743, of Aug. 27, 2018, the average price of diesel established by the company in its refineries and terminals will be […]
Weatherford Reports Higher Activity Levels In Argentina and Mexico
(Energy Analytics Institute, Ian Silverman, 29.Oct.2018) — Weatherford International plc reported Western Hemisphere 3Q:18 revenues of $762 million were down $7 million, or 1%, sequentially, and down $5 million, or 1%, year-over-year, the company reported in an official statement. Compared to the second quarter of 2018, revenues in Canada improved […]
Bolsonaro Gets Brazilian Oil Windfall With Output Poised To Soar
(Bloomberg, Sabrina Valle, 29.Oct.2018) — Brazil’s President-elect Jair Bolsonaro is staring at an oil windfall. After a decade of stagnant production, Brazil’s offshore mega-projects are about to deliver a double whammy with exports set to surge and Brent prices comfortably above $70 a barrel. This means more revenue for a […]
Petrobras Reports Oil And Gas Out For Sep. 2018
(Petrobras, 26.Oct.2018) — Petróleo Brasileiro S.A. (Petrobras) announced that in September its total production of oil and gas, including natural gas liquids (NGL), was 2.47 million barrels of oil equivalent per day (boed), 2.35 million boed produced in Brazil and 125 thousand boed abroad. The total operated production of the […]
Petrobras Updates On Reduction Of Relevant Shareholding Interest
(Petrobras, 25.Oct.2018) — Petrobras, in compliance with article 12 of CVM Instruction Nº358 of January 3, 2002 and Circular Letter CVM/SEP/Nº002/2018, informs that it was notified by Caixa de Previdência dos Funcionários do Banco do Brasil (PREVI) that PREVI sold preferred shares issued by Petrobras, so that the institution manages […]
P-69 Starts Operation In Lula Field, Pre-salt Of Santos Basin
(Petrobras, 24.Oct.2018) — Petrobras, with its partners in the BM-S-11 Consortium, started production of oil and natural gas in the Lula Extremo Sul area, in the pre-salt of Santos Basin, by means of platform P-69, eighth unit installed in the Lula field. The FPSO (floating production, storage, and offloading unit […]
Petrobras Fires Up New Platform In Offshore Lula Field
(Reuters, 24.Oct.2018) — State-controlled oil company Petroleo Brasileiro said on Wednesday it had started production on its eighth platform in the offshore Lula field, Brazil’s most productive, as it ramps up output from the Santos basin in the coveted pre-salt oil play. Platform 69 will be able to produce up […]
Petrobras Stock Upgraded: What You Need to Know
(The Motley Fool, Rich Smith, 23.Oct.2018) — Does Brazilian oil major Petroleo Brasileiro make for a good investment? There are a lot of reasons to answer, “No.” From 2014 to 2017, Petrobras stock lost money for its shareholders. This $100 billion company carries a $96 billion debt load (admittedly offset […]
Brazil Reserves And Production Update, H1 2018
(Seeking Alpha, George Kaplan, 19.Oct.2018) — Brazil and Petrobras show something in common with US LTO: even with a lot of debt and desire, and a strong resource base, it is difficult to raise production in the face of high decline rates. It may also be a lesson for the […]
Petrobras Announces Resignation Of Board Member Christian Alejandro Queipo
(Petrobras, 19.Oct.2018) — Petrobras announced Mr. Christian Alejandro Queipo presented his resignation from the position as member of the company’s Board of Directors, for personal reasons. As a member representing the company’s employees, his succession will follow the procedures established in paragraph 2 of article 25 of Petrobras’ Bylaws, observing […]
Petrobras Reveals Release Date For 3Q:18 Results
(Petrobras, 19.Oct.2018) — Petrobras will release its 2018 third quarter results on November 6, 2018, before the market opens. Therefore, between Oct. 22, 2018 and Nov. 6, 2018, the company will be in quiet period, during which it is not able to comment or provide clarifications related to its results […]