(Petrobras, 15.Jun.2016) – Petrobras informed the United States Court of Appeals for the Second Circuit issued an order granting Petrobras’s petition to permit an appeal from the order of the District Court in which the District Court certified classes in the securities litigation. The District Court’s order was disclosed in […]
Tag: Petrobras
Petrobras Starts Competitive Process to Sell Liquigás
(Petrobras, 15.Jun.2016) – Petrobras started the competitive process to sell Liquigás Distribuidora S.A., a wholly-owned, privately-held subsidiary operating in the bottling, distribution and selling of liquefied petroleum gas (LPG). Liquigás has a presence in almost all Brazilian states, with 23 operating centers, 19 deposits, 1 storage and road-rail loading base, […]
New Libra Well Confirms Extension of Petrobras Oil Find
(Petrobras, 15.Jun.2016) – The Libra Consortium has concluded the drilling and evaluation of the seventh well in the block, located in the pre-salt of the Santos Basin. The well found the thickest oil net pay column ever encountered in Libra, reaching 410 meters. This column overcomes the last found (301 […]
Petrobras Says Production Up 5% in May
(Petrobras, 8.Jun.2016) – Petrobras’ total oil and natural gas production in May reached 2.83 million barrels of oil equivalent per day (MMboe/d), up 5 percent compared to April (2.69 MMboe/d) and up 2 percent compared to May 2015, of which 2.64 MMboe/d were produced in Brazil and 190,000 boe/d were […]
Nelson Silva Appointed Petrobras’ Strategy Consultant
(Petrobras, 6.Jun.2016) – Nelson Silva has been appointed senior consultant to Petrobras’ board of executives. Invited by CEO Pedro Parente, he will coordinate the company’s strategic review process and help to evaluate and redesign its management systems. “We want to speed up changes in these departments. To achieve the results […]
Helix Finalizes Contract Negotiations With Petrobras
(Helix Energy Solutions Group, 2.Jun.2016) – Helix Energy Solutions Group, Inc. has completed its contract renegotiations with Petrobras and entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2, offshore Brazil. The contract for the Siem Helix […]
Petrobras Announces New CEO, Mgmt Changes
(Petrobras, 30.May.2016) – Petrobras received Mr. Aldemir Bendine’s letter of resignation from the positions of Member of the Board of Petrobras and CEO. Bendine also resigned from the position of Member of the Board of Petrobras Distribuidora – BR. In light of the resignation, the Board of Directors held an […]
Dilma Warns Gov’t Wants to Privatize Brazilian Reserves
(Energy Analytics Institute, Jared Yamin, 26.May.2016) – Brazil President Rousseff Dilma, suspended from her duties for six months, claims the country’s interim president Michel Temer plans to privatize the country’s pre-salt reserves and leave Petrobras out of the picture. “We know where the petroleum is located, we know its quality […]
Lawmaker Wants Investigation into Brazil-Bolivia Deals
(Energy Analytics Institute, Jared Yamin, 23.May.2016) – Brazil’s Vice President of Foreign Affairs and Deputy in the Brazil National Defense Chamber of Brazil Luis Carlos Auli announced he wants an investigation into contracts signed between Bolivia and Brazil’s Working Party under presidents Luis Inácio Lula Da Silva and Dilma Rousseff. […]
Lawmaker’s Suggests Resignation of Minister Linked to Petrobras Scandal
(Energy Analytics Institute, Jared Yamin, 23.May.2016) – Brazilian lawmaker Pauderney Avelino, from Brazil’s lower chamber, said Planning Minister Romero Jucá under the interim government of Michel Temer should resign due to his being linked to the Petrobras corruption scandal. “He should be an example and leave the government and then […]
Bolivia Exported 24 MMcm/d to Brazil
(Energy Analytics Institute, Jared Yamin, 19.May.2016) – Bolivian exports to Brazil reached 24 million cubic meters per day on May 12, 2016 compared to 30 million cubic meters per day on May 8, 2016 while exports to Argentina reached 19 million cubic meters per day, up compared to 14 million […]
Sembcorp Unit Completes Repair Job at Brazil Yard
(Sembcorp Marine Ltd., 18.May.2016) – Singapore’s Sembcorp Marine Ltd. announced that its wholly-owned Brazilian subsidiary Estaleiro Jurong Aracruz (EJA) has marked a key operational milestone with the successful completion of the yard’s first vessel repair project. The Olympic Gemini, a bulk carrier managed by the Company, left EJA May 12, […]
Former Lula Minister Sentenced to Jail in Petrobras Case
(Energy Analytics Institute, Jared Yamin, 18.May.2016) – Former Brazilan Minister JosĂ© Dirceu was sentenced to a 23-year, 3-month prison term due to his presumed involvement in the Petrobras corruption scandal. Dirceu, who served as the President of the Workers Party (PT by its Portuguese acronym), was one of the most […]
Petrobras Issues $6.75 Billion in Global Notes
(Petrobras, 17.May.2016) – Petrobras issued $6.75 billion of 5 and 10 year Global Notes through its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). The transaction was priced on May 17, 2016 and the terms of the notes issued are as follows: The order book was 2.75x and 3.0x oversubscribed in […]
Petrobras on Sale of Nova Transportadora do Sudeste
(Petrobras, 13.May.2016) – Petrobras, further to the notice published on February 26, 2016 regarding the sale of Nova Transportadora do Sudeste (NTS), announced the company’s Executive Board has approved exclusive negotiations with the company Brookfield for 60 days, which may be extended for another 30 days. This transaction is subject […]
Clarification on Estimated Returns on Petrobras Projects
(Petrobras, 9.May.2016) – Petrobras said it periodically analyzes the economic performance of its projects. The results are consolidated in a corporate document entitled Post-EVTE Study (Post Economic and Technical Feasibility Study), which details the integrated economic impact of the company’s projects, using well-defined assumptions and methodological guidelines. This process aims […]
Petrobras Signs Credit with China Exim Bank
(Petrobras, 9.May.2016) – Petrobras signed a term sheet with China Exim Bank (Export-Import Bank of China) containing the main terms and conditions for a $1 billion loan. The final loan agreement is already being negotiated, anticipating the funding planned for 2017. The agreement is related to supply contracts for equipment […]
Petrobras Reports April Production Levels
(Petrobras, 9.May.2016) – Petrobras’ total oil and natural gas production in April amounted to 2.69 MMboe/d, of which 2.50 MMboe/d were produced in Brazil and 190,000 boe/d abroad. The average oil production in April was 2.12 MMb/d, up 5 percent compared to the previous month, which was 2.02 MMb/d. In […]
Petrobras Reports on Negotiations for Sale of Petrobras Argentina
(Petrobras, 8.May.2016) – Petrobras, regarding the sale of its stake in Petrobras Argentina, as disclosed in the Material Fact on February 3, 2016, would like to announce that negotiations with Pampa Energia are ongoing, extending the period of exclusivity for another 30 days to complete negotiations. Petrobras reiterates that this […]
Petrobras Updates on Sale of Distribution Assets in Chile
(Petrobras, 4.May.2016) – Petrobras has completed negotiations with the Southern Cross Group on the main terms and conditions for the sale of 100 percent of Petrobras Chile DistribuciĂłn Ltda. (PCD), owned through Petrobras Caribe Ltd. Southern Cross Group is a private equity fund, founded in 1988, with $2.9 billion of […]
PEPC’s Restructuring Not Likely to Impact Brazil Program
(Karoon Gas Australia Ltd., 28.Apr.2016) – Karoon Gas Australia Ltd. provided an update on recent events relating to its 65 percent owned Santos Basin Blocks S-M-1037, 1101, 1102, 1165 & 1166 offshore Brazil. Karoon’s 35 percent joint venture partner, Pacific Exploration and Production Corp. (Pacific) announced April 27, 2016 that […]
Petrobras Comments on Divestment of Gaspetro Shares
(Petrobras, 26.Apr.2016) – Petrobras declared that the new injunction granted by the Rio Federal Court has not suspended the sale of 49 percent of its interest in Gaspetro, but determined that the buyer may not dispose of the shares acquired. Petrobras is analyzing the appropriate legal measures in regard to […]
Petrobras Says Production Reached 2.55 MMBoe/d in March
(Petrobras, 10.Apr.2016) – Petrobras’ oil and natural gas output in March reached 2.55 MMboe/d, including 2.36 MMboe/d produced in Brazil and 183,000 boe/d abroad. Average oil production in March was 2.02 MMb/d, down 3 percent compared to 2.09 MMb/d in the previous month. Domestic average output stood at 1.94 MMb/d, […]
BrasFELS Signs $141 Mln FPSO Contract
(Keppel Corporation Ltd. 7.Apr.2016) – Singapore’s Keppel Corp. Ltd. announced that its unit Keppel Offshore & Marine Ltd. (Keppel O&M), through its subsidiary, Keppel FELS Brasil SA’s BrasFELS shipyard has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC Offshore […]
Petrobras’ New Program to Encourage Voluntary Severance
(Petrobras, 1.Apr.2016) – Petrobras launched a new Program to Encourage Voluntary Severance (PIDV), which will be open to all employees, regardless of their age or length of service at the company. The goal is to adjust its workforce to the needs of the Business and Management Plan, optimizing productivity and […]
Petrobras OTC 2015: Offshore Video
(Energy Analytics Institute, Jared Yamin, 30.Oct.2015) – Brazil’s state oil entity Petrobras discusses its challenges in the pre-salt during the Offshore Technology Conference in Houston, Texas.
Statoil Awards Wood Group Contract Offshore
(Statoil ASA, 22.Sep.2015) – Norway’s Statoil ASA, on behalf of the Peregrino license partners, has been awarding a contract to Wood Group to provide 4-year operations and maintenance for 2 wellhead platforms (Alpha and Bravo) and modification services for both units and the FPSO Peregrino in the Campos Basin, offshore […]
Petrobras Clarifies Gaspetro Details
(Petrobras, 17.Sep.2015) – Due to the article published in the press on the potential sale of Gaspetro, Petrobras clarifies that, as announced on June 29, 2015, a divestment plan has been approved totaling $15.1 bln for the 2-year period 2015 and 2016. Therefore, the company is considering divestment opportunities in […]
Petrobras Output Sets Record in August
(Petrobras, 16.Sept.2015) – Petrobras’ oil and natural gas production in Brazil and abroad reached 2.88 MMboe/d in Aug.2015, a new record. It is up 0.8% on the previous record of 2.86 MMboe/d set in Dec.2014. This volume is also up 4.5% on Aug.2014 (2.76 MMboe/d). Oil and natural gas production […]
Petrobras Clarifies Details of Expense Cuts
(Petrobras, 15.Sep.2015) – Petrobras hereby responds to BM&FBovespa Official Letter 2851/2015-SAE, which requests the following clarifications: BM&FBovespa Official Letter 2851/2015-SAE      “We request that you provide clarification, by 9 a.m. on 9.Sep.2015, of the content of the article published by the newspaper Valor EconĂ´mico on 14.Sep.2015, entitled “Petrobras promises unprecedented expense […]
Petrobras Appoints Temp Chairman, BODs
(Petrobras, 15.Sep.2015) – Petrobras’ Board of Directors approved the appointment of Director Luiz Nelson Guedes de Carvalho at a meeting. Carvalho will chair this Board during Mr. Murilo Pinto de Oliveira Ferreira’s leave of absence, which was granted by the Council until 30.Nov.2015. The alternate to the Chairman of the […]
Petrobras Updates on Leasing of Rigs
(Petrobras, 15.Sept.2015) – In regard to the news items carried by the press concerning the leasing of oil rigs, Petrobras cannot confirm that it is about to sign a 15-year lease covering 19 oil rigs, amounting to $40 billion. As indicated on 9.Sep.2015, Petrobras currently has 28 leasing contracts for […]
Petrobras Says Board Pres. Takes Leave
(Petrobras, 14.Sep.2015) – Petrobras’ Chair of the Board of Directors, Murilo Ferreira, has advised the Board that he will be on leave of absence until 30.Nov.2015. ***
Petrobras Reports on Downgrade by S&P’s
(Petrobras, 11.Sep.2015) – Regarding Standard & Poor’s announcement of its new rating on September 10, 2015, Petrobras reiterates the medium-term fundability of its projects has been assured through loans taken out this year from financial institutions in Brazil and other countries. Petrobras also clarifies its loans do not contain any […]
Petrobras’ Naphtha Contract with Braskem
(Petrobras, 11.Sep.2015) – Petrobras and Braskem have signed contracts to supply naphtha for 2-months, starting on September 1, 2015: one is for the Braskem Unit in SĂŁo Paulo and the other is for the Bahia and Rio Grande do Sul units. Petrobras tried to negotiate a price for the naphtha […]
Petrobras’ Clarification on Drilling Rigs
(Petrobras, 10.Sep.2015) – Currently, Petrobras has 28 contracts with Sete Brasil to charter drilling rigs. Charter contracts for 7 of the rigs were signed in Jun.2011 and the remaining 21 rigs were signed in Aug., totalling $89 bln. The 28 drilling rigs are scheduled to be delivered at different times: […]
Petrobras Output for July 2015
(Petrobras, 26.Aug.2015) – Petrobras sets new daily and monthly records for oil extraction in the pre-salt layer.    Petrobras’ average oil and natural gas production rose 1.8% in July 2015 compared to the previous month and reached 2.796 MMboe/d. The company produced 2.746 MMboe/d in Jun.2015. Production is up 3.6% on […]
Petrobras Debentures Public Offering
(Petrobras, 26.Aug.2015) – Petrobras has submitted to the Brazilian Financial and Capital Markets Association (ANBIMA) a request for the preliminary analysis of registration for the public offer of simple debentures, not convertible into shares, unsecured, in up to 3 series, to be held in accordance with the procedures of CVM […]
Petrobras Pays Fine in USA
(Petrobras, 20.Aug.2015) – Regarding media reports on the payment of a fine to U.S. authorities, Petrobras states there is nothing ongoing regarding any payment of a fine to close civil and criminal investigations into the violation of anticorruption legislation in the U.S. Nor has there been any decision by U.S. […]
Details Related to Petrobras Distribuidora IPO
(Petrobras, 18.Aug.2015) – Pursuant to CVM Instruction 480/09, Petrobras has published, in the Brazilian Securities and Exchange Commission (CVM) system, an acknowledgement relating to the meeting of the Board of Directors held on 6.Aug.2015, which resolved on the following issues related to the IPO of Petrobras Distribuidora (BR): (i) the […]
Moody’s Affirms Petrobras Argentina Notes
(Moody’s Investor Service, 14.Aug.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo affirmed the Ba2/Aaa.ar global scale rating and national scale rating on Petrobras Argentina S.A.’s $300 million in guaranteed Series S notes (CUSIP 71646JAB5). The rating action reflects Moody’s Investors Service’s rating action on August 11, 2015 of […]
Petrobras Updates on Settlement of Tax Liability
(Petrobras, 7.Aug.2015) – Following the publication of Joint Regulation RFB/PGFN #1064 and Regulatory Instruction 1576 in the Official Gazette on 3.Aug.2015, by the Brazilian Internal Revenue and the Office of the General Council to the National Treasury, Petrobras has decided to include, under these regulations, the processes relating to the […]
Filing of IPO by Petrobras Distribuidora
(Petrobras, 7.Aug.2015) – Petrobras announces that, in continuation of the studies for the initial public offering of shares by Petrobras Distribuidora (BR), disclosed in the Material Fact of 1.Jul.2015, its Board of Directors has authorized the filing of a formal request for registration of an initial public offering and for […]
Petrobras Post Net 1H:15 Earnings
(Petrobras, 7.Aug.2015) – Petrobras made net earnings of R$5.9 bln in the 1H:15, down 43% from the 1H:14. This result mainly reflects an increase in net financial expenses and recognition of a Financial Operations Tax (IOF) expense involving loans between different Petrobras group companies. Operating earnings were R$22.8 bln, up […]
FPSO Starts Ops in Santos Basin Pre-Salt
(Petrobras, 1.Aug.2015) – On July 31, 2015, the Cidade de ItaguaĂ started up production to commence the operational phase of the Iracema Norte project. This area is located in the Lula oilfield off the coast of Rio de Janeiro, in the Santos Basin pre-salt. The floating, production, storage and offloading […]
Petrobras Tightens Controls in Hiring Suppliers
(Petrobras, 31.Jul.2015) – The Federal Public Prosecution Ministry returned R$139 mln misappropriated by former employees to Petrobras. Petrobras has made its supplier management process stricter. Its suppliers must now provide detailed information about their structure, finances and mechanisms for compliance and combating fraud and corruption, among other items, which are […]
SBM Completes $1.55 Bln Financing of FPSO
(SBM Offshore N.V., 28.Jul.2015) – SBM Offshore N.V. announced that on 27.Jul.2015 it completed the project financing of FPSO Cidade de Saquarema — which will be deployed to the Lula field offshore Brazil upon completion — for a total of $1.55 billion, which is the largest project financing in the […]
Ecopetrol Announces Caribbean Deepwater Find
(Ecopetrol S.A., 28.Jul.2015) – Ecopetrol informs that at a depth of 3720 meters, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. This discovery proves the geological model proposed for an unexplored area with high hydrocarbon potential. Kronos-1 is located in block Fuerte Sur, […]
Petrobras Clarifies Contract with Braskem
(Petrobras, 22.Jul.2015) – In regard to the news published by the press on the Braskem contract, Petrobras would like to make it clear that the naphtha supply contract between Petrobras and Braskem was examined by an Internal Investigative Committee set up after the company had access to the state’s evidence […]
Petrobras Clarifies IPO News
(Petrobras, 21.Jul.2015) – Regarding reports in the press about an Initial Public Offering (IPO) for BR Distribuidora S.A., Petrobras clarifies that, as announced on 1.Jul.2015, the Executive Board authorized a study to be prepared analyzing strategic alternatives for its wholly-owned subsidiary Petrobras Distribuidora. Among the possibilities to be explored, is […]