(Hydrocarbon Engineering, Alex Hithersay, 18.Oct.2018) — Petrobras has announced that it has signed an integrated project business model agreement (IPBMA) with China National Oil and Gas Exploration and Development Co. (CNODC), a subsidiary of CNPC, advancing towards their strategic partnership, as disclosed to the market on July 4, 2018. The […]
Tag: Petrobras
Petrobras LSFO Offer Sparks Fears Of Length In Europe
(S&P Global Platts, 18.Oct.2018) — Brazil’s Petrobras is offering 50,000 mt of 0.6% cracked low sulfur fuel oil from Brazil for delivery into Europe during the first decade of November, fuel oil traders said Thursday. The cargo from Petrobras, Brazil’s biggest refiner, is not good news for European LSFO after […]
Mexico And Brazil’s Crude Politics
(Foreign Policy, Lisa Viscidi, .16.Oct.2018) — A potential return to resource nationalism could set both countries back. Until this year, resource nationalism—when a government asserts its control over a country’s natural resources—seemed to be on the wane in Latin America. With oil prices low, state oil companies were struggling, and […]
Engie And Caisse Said To Plan $9B Pipeline Bid
(Bloomberg, Cristiane Lucchesi, Francois Beaupuy, Scott Deveau, 15.Oct.2018) — French utility Engie SA and a Canadian pension fund plan to offer as much as $9 billion (34 billion reals) for Petrobras’s natural gas pipeline network, potentially a $1 billion boost from their initial bid, according to people with knowledge of […]
Petrobras Expects To Revive TAG Deal Over The Next Month: Sources
(Reuters, Tatiana Bautzer, 15.Oct.2018) — Brazil’s state-controlled oil company Petroleo Brasileiro SA expects to revive the sale of its pipeline operator TAG over the next month, if it can get a Supreme Court injunction lifted, with the support of the country’s solicitor-general, a person with knowledge of the matter said. […]
Analysis: Brazil Presidential Frontrunner’s Advisers Clash Over Petrobras
(Reuters, Alexandra Alper, Tatiana Bautzer, Rodrigo Viga Gaier, 12.Oct.2018) — Nationalistic and free market advisers to Brazil’s right-wing presidential frontrunner are deeply split about the future of state-run oil company Petroleo Brasileiro, foreshadowing a showdown over divestments and fuel subsidies. University of Chicago-educated banker Paulo Guedes, economic adviser to frontrunner […]
Bolsonaro Plans More Power Plants In The Amazon
(Reuters, Ricardo Brito, 11.Oct.2018) — Brazil’s presidential front-runner Jair Bolsonaro would tackle chronic energy shortages by expanding nuclear and hydroelectric power in the Amazon despite environmental concerns, the adviser overseeing his infrastructure plans told Reuters. Oswaldo Ferreira, one of several retired generals advising Bolsonaro, said, if he were elected, the […]
Petrobras, Murphy Oil Create US Gulf Joint Venture
(S&P Global Platts, 11.Oct.2018) — Brazilian state-led oil company Petrobras and Murphy Oil will combine production assets in the US Gulf of Mexico in a joint venture that will produce about 75,000 barrels of oil equivalent/day in the fourth quarter of 2018. “The joint venture will be formed by the […]
Petrobras Updates On Sale Of Onshore Fields Opportunity Disclosure
(Petrobras, 8.Oct.2018) — Petrobras announced the beginning of the opportunity disclosure stage (Teaser) related to the sale of its entire equity share in three onshore production fields (Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha), located in the state of Espírito Santo, Brazil, close to the municipality of Linhares, jointly […]
Petrobras Prepays Debt With Banco do Brasil
(Petrobras, 5.Oct.2018) — Petrobras prepaid a debt with Banco do Brasil, in the amount of R$2 billion, whose maturity would occur in 2020. Simultaneously, Petrobras has signed with the same institution and the same amount a revolving credit facility, with maturity in October 2025. The revolving credit facility represents an […]
Petrobras Offers Clarification On ‘Car Wash’ News
(Petrobras, 5.Oct.2018) — Petrobras reports that it received the Official Letter No. 369/2018/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 369/2018/CVM/SEP/GEA-1 “Mr. Director, We refer to the news published on 09/28/2018 in Veja magazine, Brazil section, under the title: “CAR WASH – ARMADILLO IN THE HOLE,” which includes the […]
Aker Solutions Wins Subsea Order for Libra’s Mero Field Offshore Brazil
(Aker Solutions, 5.Oct.2018) — Aker Solutions has signed a contract with Petrobras to provide a subsea production system and related services for the Mero 1 project within the Mero field development, one of the largest oil discoveries in Brazil’s pre-salt area. The subsea production system will consist of 12 vertical […]
Baker Hughes to Bid for Petrobras PSC -Baker Hughes Executive
(Reuters, Marta Nogueira, Alexandra Alper, 2.Oct.2018) — General Electric Co’s unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil’s Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks creative ways to boost output from mature fields. Reuters reported in June that […]
Why Companhia Energetica, and Petrobras Stocks All Popped Today
(The Motley Fool, Rich Smith, 2.Oct.2018) — Investors are upbeat facing the upcoming Brazilian presidential election. What happened Brazilian oil giant Petroleo Brasileiro (Petrobras) saw its stock surge 8.9% in Tuesday trading, while its preferred “A-shares” — Petroleo Brasileiro — did even better, closing up 10.2%. Shares of Brazilian electric […]
Petrobras Offers Clarification On Valor Econômico News
(Petrobras, 1.Oct.2018) — Petrobras received the Official Letter No. 363/2018/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 363/2018/CVM/SEP/GEA-1 “Mr. Director, 1. We refer to the news published on this date, in the newspaper “Valor Econômico”, Companies section, under the title: “Petrobras estimates that it would have from R$20 billion […]
Petrobras Reports On Adjustment Of Sale Prices
(Petrobras, 28.Sep.2018) — Petrobras, following up on the releases disclosed on Aug. 7, 2018 and Aug. 31, 2018, informs that, due to the methodology established in the National Petroleum Agency (ANP) Resolution no. 743 of Aug. 27, 2018, the average price of diesel will be R$ 2.3606 per liter as […]
Transocean Extends Contract for Petrobras 10000 Through 2021
(Transocean Ltd., 28.Sep.2018) — Transocean Ltd. announced the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021, and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is […]
Equinor and Petrobras Sign Brazilian Offshore MOU
(WindPowerOffshore, Craig Richard, 28.Sep.2018) — State-owned oil majors Equinor and Petrobras have signed a three-year memorandum of understanding (MoU) to develop the country’s offshore wind sector. The two companies have already been investigating other potential areas of cooperation, including the development of renewable energy projects, they stated. Petrobras has four […]
Petrobras Bolivia Spuds Deep Caranda X1005 Well in Santa Cruz
(Energy Analytics Institute, Jared Yamin, 27.Sep.2018) —The well was spud in the Caranda Field inthe presence of Bolivia’s President Evo Morales. The field is located in the Ichilo province of the department of Santa Cruz and is operated by Petrobras Bolivia. The Deep Caranda exploration well (Car-X1005) will require an […]
Venezuela Faces Fresh Blow With Ship-Fuel Rules Threatening Exports
(Bloomberg, 27.Sep.2018) — New rules forcing ships to use cleaner marine fuels may deal yet another blow to cash-strapped Petroleos de Venezuela SA, an exporter of high-sulfur fuel oil. From Jan. 1, 2020, vessels will have to switch to less-polluting bunker fuel or be fitted with equipment to curb emissions, […]
Petrobras, Equinor Ink 3-Year Deal for Wind Energy Projects
(Reuters, 26.Sep.2018) — Norway’s Equinor ASA and Brazil’s Petrobras agreed to jointly seek out offshore wind projects together for the next three years, executives from the two companies said on Wednesday. Equinor’s Executive Vice President Anders Opedal and Petrobras’s Chief Strategy Officer Nelson Silva did not offer details on the […]
Petrobras Cuts Gasoline Refinery Price After Pump Record
(Reuters, 24.Sep.2018) — Brazil’s state-owned oil company Petroleo Brasileiro SA said on Monday that it would cut the average price of gasoline at its refineries by 0.59 percent after pump prices hit record levels in the country last week. Petrobras, as the company is known, said the price reduction to […]
Brazil Presidential Hopeful Vows to Create 2 Million Green-Energy Jobs
(Efe, 21.Sep.2018) — Environmentalist Marina Silva said on Friday that if elected next month as Brazil’s president, she will create 2 million jobs through programs to promote use of renewable energy. Silva, who finished third in the 2014 and 2010 contests, is currently at 7 percent in the polls ahead […]
Petrobras Bondholders Exchange $8.9 Bln Notes for Identical Paper
(Reuters, 21.Sep.2018) — Bondholders in Brazilian state-run oil firm Petroleo Brasileiro SA have accepted the exchange of about $8.9 billion of unregistered notes for identical paper registered with the U.S. Securities and Exchange Commission, the company said in a Friday securities filing. Of $3.76 billion in 5.299 percent notes maturing […]
Petrobras to Boost Oil Output in 2019, Cut Debt $10 Billion – CFO
(Reuters, Devika Krishna Kumar, Simon Webb, 17.Sep.2018) — Brazil’s state-run oil giant Petróleo Brasileiro SA aims to raise output as much as 10 percent to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by $10 billion (7.62 billion pounds), Chief Financial Officer Rafael Grisolia told […]
Ecopetrol: Fracking Likely In Colombia, Business Prospects Are Positive
(Seeking Alpha, Dylan Quintilone, 14.Sep.2018) — Ecopetrol SA is a Colombian oil and gas company with headquarters in Bogotá, Colombia. The company is listed by Forbes as the 300th largest enterprise by profits and is the second oil company in South America behind Petrobras from Brazil. Ecopetrol’s operations are divided […]
Stena Bulk, Petrobras, Ink Two-Year Contract
(Energy Analytics Institute, Jared Yamin, 8.Sep.2018) — Stena Bulk signed a deal to charter two MR tankers to Petrobras. Under the deal, Stena Bulk will charter its MR product tankers Stena Conqueror (47,000 dwt, built in 2003) and Stena Conquest (47,000 dwt, built in 2004) to Brazil’s state-owned oil company. […]
Petrobras Unveils Gasoline Hedge in Bid to Weather Volatility
(Reuters, 6.Sep.2018) — Brazil’s state-run oil company Petroleo Brasileiro SA on Thursday unveiled a hedging program for gasoline prices in a bid to boost pricing flexibility and protect its financial results during times of high volatility. Petrobras, as the company is known, said in a securities filing the program would […]
Output from Main Pre-Salt Field to Peak in 2019
(Efe, 6.Sep.2018) — Output from Brazil’s most prolific pre-salt field will climb to a peak of 1 million barrels of oil per day in 2019, according to the executive manager for deep-water exploration and production at state oil company Petrobras. The Lula field, located in the Santos Basin, will achieve […]
Brazil Santos Lifting Costs Could Reach $5/bbl
(Reuters, 6.Sep.2018) — Lifting costs for the Santos basin in Brazil’s offshore pre-salt oil play should reach an all time low of $5 per barrel, but the timeline for reaching it will depend on the development of the transfer-of-rights area, an executive of Brazilian oil giant Petroleo Brasileiro told reporters […]
Brazil’s Energy Agency Opts for Argus Prices
(Argus Media, 30.Aug.2018) — Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) will start using prices published by leading global energy and commodities price reporting and news agency Argus to set a government diesel subsidy. ANP has announced that it will, from 31 August, adopt Argus delivered prices […]
Golar Power Affiliate CELSE Closes $1.3 Bln Financing
(Golar LNG, 25.Aug.2018) — Golar Power Limited’s affiliate, CELSE, closed a $1.34 billion financing facility for the Sergipe project. On April 19, CELSE, the 50% Golar Power owned project company responsible for delivering the Sergipe I power project, executed a $1.34 billion non-recourse project finance facility. Excluding the FSRU facility, […]
Oil Auction from Brazil Transfer-of-Rights Unlikely in 2018
(Reuters, 23.Aug.2018) — A Brazilian auction of rights to develop additional oil-producing areas in the country’s so-called transfer-of-rights region is unlikely this year, Brazil’s Deputy Mining and Energy Minister Marcio Felix said on Tuesday. The government in 2010 transferred to state-run oil company Petróleo Brasileiro S.A., known as Petrobras, rights […]
Petrobras to Start Replan Refinery Reopen in 48 Hours
(Reuters, 22.Aug.2018) — Brazil’s state-run oil company Petróleo Brasileiro SA may begin procedures to reopen its largest refinery, closed after an explosion and fire, in 48 hours, Gustavo Marsaioli, a spokesman for the oil workers’ union, said on Wednesday. Marsaioli said Petrobras intends to reopen the Paulinia refinery, known as […]
Brazil’s Opposing Energy Views
(OilPrice.com, Haley Zaremba, 21.Aug.2018) – Brazil’s energy industry seems to be caught in a moment of deep ambivalence–on one side of the issue, they are breaking records in terms of renewable resources and green energy; on the other, they are pushing hard revive fossil fuels and bring hundreds of thousands […]
Petrobras Sees No Fuel Supply Shortage After Replan Fire
(Reuters, 20.Aug.2018) – A director at Brazilian state-run oil company Petroleo Brasileiro SA said on Monday a fire at the company’s largest refinery Replan, in the state of São Paulo, is not expected to compromise fuel supplies in the short run. Jorge Celestino Ramos, the company’s refining and natural gas […]
Oceaneering Subsidiary Secures Contract with Petrobras
(Oceaneering International, Inc., 20.Aug.2018) – Marine Production Systems do Brasil Ltda., one of Oceaneering International, Inc.’s wholly owned subsidiaries, has secured a four-year contract with a one-year optional extension period from Petróleo Brasileiro S.A. (Petrobras) in Brazil. “We are excited by this Petrobras award and the opportunity to expand our […]
Petrobras Receives Over R$ 1 Bln from Operation Car Wash
(Petrobras, 9.Aug.2018) – Petrobras informs that it has received a return of R$ 1.034 billion through cooperation and leniency agreements signed with individuals and legal entities by the Federal Public Prosecutor’s Office in Curitiba and by the Office of the Attorney General in Brasília under Operation Car Wash. This is […]
Petrobras Approves Pmt of Interest on Capital
(Petrobras, 6.Aug.2018) – Petrobras reports that its Board of Directors approved in a meeting held yesterday the 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, […]
Petrobras Posts 1H:18 Profit, Reduces Debt
(Petrobras, 3.Aug.2018) – Petrobras reported net income of R$ 17 billion in the first half of 2018. The positive result was mainly influenced by the increase in international oil prices, associated with the depreciation of the Brazilian Real against the US dollar. In the same period, net debt fell 13% […]
Shell Offers 1H:18 LatAm Updates
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) – Royal Dutch Shell plc announced the following updates during the first half of 2018. Mexico In the deep-water bid round in Mexico in January for the Gulf of Mexico, Shell won four exploration blocks on its own, four with its partner Qatar Petroleum […]
Shell Brazil Invests in FPSO Tanks Solution
(World Oil, 31.Jul.2018) – Aberdeen-based inspection technology and service provider for the oil and gas industry, Innospection, Shell Brazil and SENAI CIMATEC technology institute in Salvador, Brazil, have recently signed a partnership agreement to develop a robot-based technology for in-service inspection of cargo oil tanks of FPSOs. This robot system […]
Peregrino Module Sails to Brazilian Platform
(Energy Voice, David McPhee, 31.Jul.2018) – Watch as Equinor’s Peregrino modules set sail en route to the platform in Brazil to begin Phase 2 of the project. Watch: Equinor Peregrino modules sail to Brazilian platform The modules for the drilling facility have already been delivered but will now undergo stacking […]
Trafigura Seeks to End Ricardo Eliçabe Conflict
(Energy Analytics Institute, Ian Silverman, 28.Jul.2018) – Negotiations continue to advance to overcome a labor related conflict at the Ricardo Eliçabe refinery in Bahía Blanca. The refinery, acquired last May by the Dutch group Trafigura, has been paralyzed for almost two months, reported the daily newspaper Clarin. The labor conflict […]
Petrobras Targets China with New Crude Oil
(Reuters, Florence Tan and Alexandra Alper, 27.Jul.2018) – Brazil’s state-controlled energy company Petrobras plans to push more crude oil to top importer China by marketing a new medium-sweet grade that could be shipped from October, two sources with knowledge of the matter said. Petrobras expects to start pumping pre-salt oil […]
Petrobras says Entorno de Sapinhoá Block Viable
(Reuters, 20.Jul.2018) – Brazil’s state-controlled oil company Petróleo Brasileiro SA said that areas it operates adjacent to the Entorno de Sapinhoá block in the Santos basin are commercially viable, according to a securities filing on Friday. Petrobras has a 45 percent stake in Sapinhoá, while Shell Plc has a 30 […]
Petrobras to Start Up 4 New Platforms in 4Q
(Reuters, 18.Jul.2018) – Brazil’s state-controlled oil company Petrobras will start pumping pre-salt oil from four new platforms between October and December, the company’s director for production and technology development Hugo Repsold said. Speaking to reporters at an oil industry event, he said Petrobras could study building its own platforms after […]
Total Advances Renewable Projects in Brazil
(UPI, Daniel J. Graeber, 18.Jul.2018) – A renewable energy division of French supermajor Total said Wednesday it was moving forward with new solar power developments in Brazil. Total in September paid about $275 million to acquire a 23 percent stake in renewable energy company Eren, naming the new entity Total […]
Petrobras Output in Campos Drops
(Reuters, Marta Nogueira, 17.Jul.2018) – Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data. Output has dropped 15.8 percent […]