HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]
Tag: Petrobras
Petrobras and Ternium to Supply Gas in the Rio de Janeiro Free Market
(Petrobras, 3.Oct.2024) — Petrobras and Ternium entered into a contract to supply natural gas in the free trading environment to the Ternium plant in Rio de Janeiro (RJ). This agreement marks Ternium’s migration from the captive market to the free market in Rio de Janeiro, where it relies on a […]
Petrobras says Uchuva-1/Uchuva-2 gas potential is around 6 Tcf
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 3.Oct.2024) — Petrobras, following up on the announcements issued on 29 Jul. 2022 and 5 Aug. 2024 on the extension of the gas discoveries in the Uchuva-1 and Uchuva-2 wells, renamed Sirius-1 and Sirius-2, says the gas potential in the discoveries is […]
Moody’s Raises Petrobras’ Outlook to Positive
(Energy Analytics Institute, 2.Oct.2024) — Moody‘s raised the outlook on Petrobras‘ ratings from stable to positive, Petrobras announced 2 Oct. 2024 in an official statement. The rating agency also reaffirmed Petrobras’ credit rating at “Ba1”, reflecting the Brazilian company’s solid credit metrics, positive track record of operational and financial improvement […]
Petrobras Reports on South African Operations
(Petrobras, 1.Oct.2024) — Petrobras informs that its Board of Directors has approved the company’s operations in South Africa, enabling the acquisition of a stake in the Deep Western Orange Basin (DWOB) block, through a competitive process conducted by TotalEnergies. The DWOB block is located in deep waters in the Orange […]
EAI’s NRGBriefs: Sep. 2024
(Energy Analytics Institute, 30.Sep.2024) — Energy briefs as well as others related to finance and projects during Sep. 2024 including Petrobras inking separate MOUs with its Argentine and Surinamese counterparts YPF and Staatsolie; TechnipFMC being awarded two subsea contracts by Petrobras; CNOOC Limited saying the Shenhai-1 Phase II Natural Gas Development […]
LatAm NRG Matters: Highlights, Heard
(Energy Analytics Institute, 27.Sep.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 27 Sep. 2024. —Argentina: Petronas is rumored to be pondering stepping back from Argentina LNG, the South American country’s initial LNG export project, leaving YPF alone to search for partners. —Brazil: Petrobras […]
Petrobras and Staatsolie Maatschappij Suriname N.V. Ink MOU
HOUSTON, TEXAS (Energy Analytics Institute, 26.Sep.2024) — Brazilian energy giant Petrobras signed a non-binding memorandum of understanding (MOU) with its Surinamese counterpart Staatsolie Maatschappij Suriname N.V. aimed at assessing cooperation opportunities in the areas of hydrocarbon exploration and production, carbon capture, new energy sources, contingency response planning, among others. The […]
Petrobras on Payment of Remuneration to Shareholders
(Petrobras, 20.Sep.2024) — Petrobras, following up on the Material Fact of 13 May 2024 and the Communication of 11 Jun. 2024, informs that will pay today the second installment of dividends related to the balance sheet of 31 Mar. 2024. The gross amount to be distributed today corresponds to R$ […]
Petrobras Awards TechnipFMC Subsea Contracts by for Brazil’s Pre-Salt Fields
(Energy Analytics Institute, 19.Sep.2024) — TechnipFMC has been awarded two subsea contracts by Brazil’s state-owned Petrobras for the pre-salt fields offshore the South American country. The first award is a substantial contract—between $260mn-$500mn—to design, engineer, and manufacture riser flexible pipe. TechnipFMC will also supply associated services including packing and storage, […]
Petrobras on Media Reports on Fuel Prices
(Energy Analytics Institute, 18.Sep.2024) — Petrobras downplayed claims in the media that it has decided to reduce fuel prices. “Any adjustments to the prices of its products are made in the normal course of its business with no defined periodicity and, when there is a decision to change, the price list […]
Petrobras on Closing of Offering of Dollar-denominated Global Notes
(Petrobras, 16.Sep.2024) — Petrobras announced (i) the settlement of the international capital markets offering of US$1bn 6.000% Global Notes due 2035 (the “New Notes and such offering, the “New Notes Offering”), issued by its wholly-owned subsidiary, Petrobras Global Finance B.V. (PGF) and (ii) the final results and settlement of the […]
Ecopetrol and Petrobras ordered to halt drilling at gas well offshore Colombia
BOGOTA, COLOMBIA (Bloomberg, 13.Sep.2024, Words: 294) — A Colombian judge ordered Ecopetrol SA and Petroleo Brasileiro SA to halt the drilling of a gas well in the nation’s Caribbean waters after an Indigenous community sought legal protection. The community in the area of Taganga, near the city of Santa Marta, […]
Petrobras Updates on Favorable Arbitration
(Petrobras, 12.Sep.2024) — Petrobras informs that a favorable final arbitration award has been handed down in one of the arbitrations taking place before B3’s Market Arbitration Chamber (CAM). This arbitration was initiated by an association and was intended to be collective, trying to encompass all Petrobras shareholders who acquired shares on […]
Gerdau and Petrobras Ink Deal for Low-carbon Business Studies
(Petrobras, 9.Sep.2024) — Petrobras has signed a Memorandum of Understanding (MoU) with Gerdau S.A., aimed at evaluating commercial opportunities and potential partnerships in decarbonization projects; low carbon fuels; hydrogen and its products; carbon capture, utilization and storage (CCUS); as well as R&D projects related to the integrity of materials in a […]
Petrobras and Embrapa to Research Low-carbon Products and Fertilizers
(Petrobras, 6.Sep.2024) — Petrobras and Embrapa signed a Cooperation Agreement (CA) this Friday (6/6) to conduct technical studies on renewable raw materials to obtain low-carbon products, including biofuels, green chemistry, and fertilizers.   This partnership requires Petrobras to devise technological solutions and develop biofuel and bioproduct production plants. Embrapa, in turn, […]
Petrobras Prices U.S. Dollar-denominated Global Notes
(Petrobras, 4.Sep.2024) — Petrobras announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF). The Notes will be unsecured obligations of PGF and will be fully, unconditionally and irrevocably guaranteed by Petrobras. Closing is expected to occur […]
Petrobras to Offer Dollar-denominated Global Notes
(Petrobras, 3.Sep.2024) — Petrobras announces that its wholly-owned subsidiary, Petrobras Global Finance B.V. (PGF), has commenced (i) an offering of a new series of U.S. dollar-denominated global notes in the international capital markets, subject to market and other conditions, and (ii) cash tender offers to purchase any and all of […]
Petrobras and CSN Ink Deal to Supply Gas in RJ’s Free Environment
(Petrobras, 2.Sep.2024) — “Petrobras and CSN entered into a contract to supply natural gas to the CNS plant situated in Rio de Janeiro (RJ). This steelworks’ migration to the free environment has Petrobras as its chief supplier among a pool of suppliers. The new partnership in the natural gas market […]
EAI’s NRGBriefs: Aug. 2024
(Energy Analytics Institute, 31.Aug.2024) — Energy briefs as well as others related to finance and projects during Aug. 2024 including Petrobras achieving its main target at the Uchuva-2 well offshore Colombia; Golar LNG and bp entering into commercial reset arrangements for FLNG Gimi; and more. LATIN AMERICA AND THE CARIBBEAN […]
Petrobras Inks 26 Concession Contracts in the Pelotas Basin
(Petrobras, 30.Aug.2024) — PetrĂłleo Brasileiro S.A. or Petrobras, following up on Communication of 13 Dec. 2023, signed 26 Concession Contracts of the 4th Permanent Concession Offer Cycle, acquired in partnership with Shell in the public session held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in December 2023. […]
Diverging Paths: Argentina Versus Brazil’s Energy Policies
(Rystad, 29.Aug.2024) — Argentina and Brazil are the two largest economies on the South American continent, and both are places that foreign investors have been cautiously eyeing for some time now. For many years both countries pursued a similar path while sharing a similar government ideology in their respective capitals. Now, […]
Petrobras to Invest BRL 500mn in Five Supercomputers
(Petrobras, 29.Aug.2024) — Petrobras, the Latin American champion in the past four years according to the Top500.org ranking, which evaluates the world’s foremost High-Performance Computers (HPCs), will boost its technological park by acquiring five new supercomputers with a total investment of BRL 500mn. One of the machines, capable of processing the […]
Sepetiba Platform Reaches Top Pre-salt Production
(Petrobras, 28.Aug.2024) — The platform ship Sepetiba, chartered by Petrobras, reached its top production, 180 million oil barrels per day (bpd), in the Mero field, in the Santo Basin’s pre-salt layer, last 27 Aug. 2024. This milestone was reached within the estimated time frame of eight months due to the promptness […]
Brazil Turns to LNG as Drought Threatens Hydro Reservoirs
(Bloomberg, 13.Aug.2024) — Brazil has emerged as the latest contender for global liquefied natural gas supplies as dry weather threatens its vast hydropower production. South America’s most populous nation typically depends on hydroelectricity for the majority of its power needs but turns to gas when water levels plunge. An expected […]
Petrobras Releasing Digital Tool that Stimulates Reduction in CO2 Emissions
(Petrobras, 12.Aug.2024) — The GIS CCUS Brasil platform gathers all public information on carbon capture and storage (CCUS) in Brazil on a single website. It is online and free and provides essential data to set up new projects, such as the amount of CO2 emitted, existing national infrastructure, and potential reservoirs […]
Petrobras Reports Solid 2Q:24 Cash Generation
(Petrobras, 8.Aug.2024) — Petrobras had solid cash generation in the second quarter of 2024, reporting an Operating Cash Flow (OCF) of BRL47.2bn—higher than in the year’s first quarter. The OCF demonstrates the company’s capacity to generate resources from its regular operations, being a relevant index to assess a company’s performance. […]
Petrobras on Shareholder Remuneration
(Petrobras, 8.Aug.2024) — Petrobras informs that its Board of Directors approved, in a meeting held today, the payment of interim and intermediate dividends, as well as interest on equity (JCP), in the amount of R$13.57bn, equivalents to R$1.05320017 per outstanding common and preferred share. The proposed distribution is in line with […]
Petrobras Revises CAPEX for 2024
(Petrobras, 8.Aug.2024) — Petrobras, pursuant to CVM Resolution No. 44/21, informs that its total CAPEX projection for 2024 has been revised to a range of investments between $13.5bn and $14.5bn, considering mainly a new CAPEX for the E&P segment of $11.1bn to $12.1bn for this year. This level of investment does […]
Petrobras, Findes, and Govt of EspĂrito Santo Ink Protocol for CCSÂ
(Petrobras, 6.Aug.2024) — Petrobras signed a protocol of intentions with the State Government and Federação das IndĂşstrias do EspĂrito Santo (Findes) to study CCUS and low-carbon hydrogen projects. One of the goals is to assess the feasibility of implementing a CCUS HUB and facilities to produce low-carbon hydrogen for decarbonizing the […]
Petrobras Confirms Gas Find Offshore Colombia at Uchuva-2
(Petrobras, 5.Aug.2024) — Petrobras, following up on the release disclosed on 29 July 2022, has achieved the main target of the Uchuva-2 well, confirming the extent of the gas discovery made in 2022 with the drilling of the Uchuva-1 well. This well adds relevant information for the development of a new […]
SLB OneSubsea Inks Deal with Petrobras Offshore Brazil
(SLB, 2.Aug.2024) — SLB announced a major contract award by Petrobras, following a competitive tender, to its OneSubsea™ joint venture for their standardized, pre-salt subsea production systems and related services. The scope covers the further development of two oil fields in the strategically important Santos Basin. As part of the […]
Petrobras to Acquire Undersea Equipment for Santos and Campos Basins
(Petrobras, 1.Aug.2024) — Petrobras has signed the first contract to acquire undersea equipment to start implementing the Atapu 2 and SĂ©pia 2 projects. The equipment will be installed in the Santos Basin’s pre-salt layer and the Campos Basin Roncador field. The commercial agreement was closed with the SLB OneSubsea group, and […]
FPSO Almirante Tamandaré Departs for Brazil from Shipyard in China
(Petrobras, 31.Jul.2024) — The Almirante TamandarĂ© platform ship left the CMHI shipyard in China on 31 July 2024, bound for the BĂşzios field. The FPSO (floating production, storage, and offloading) platform will be the first high-capacity unit to be installed in the field, with the potential to produce up to 225,000 […]
Petrobras Reports 2.4% Rise in Oil and Gas Production in 12 Months
(Petrobras, 29.Jul.2024) — Petrobras ended the second quarter of 2024 (2Q24) with an average production of 2.7 million barrels of oil equivalent per day (boed), an increase of 2.4% compared to the same period last year (2Q23). The increase was driven by the ramp-up in production of the FPSOs Almirante […]
Petrobras Sells Bunker Fuel with Renewable Content
(Petrobras, 25.Jul.2024) — This week, Petrobras sold a marine fuel with renewable content (the VLS B24) to supply ships off the Brazilian coast. Petrobras is the country’s first company to deliver a bunker to the market with 24 % second-generation biodiesel (produced from agro-industrial waste). The commercial operation reinforces Petrobras’ strategy of […]
Petrobras Reveals Redemption Price for 4.750% Global Notes due 2025
(Petrobras, 24.Jul.2024) — Petrobras announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) has delivered notices to the holders of the outstanding 4.750% Global Notes due 2025 (the “Notes”) announcing the redemption price for the Notes. As previously announced, the redemption date for the Notes will be 29 July 2024 […]
Petrobras and Braskem Complete Tests for Renewable Content Chemical Product
(Petrobras, 19.Jul.2024) — Petrobras has successfully finished a series of industrial-scale tests to produce a Light Hydrocarbon Stream (LHR) rich in ethylene, incorporating renewable content. Over the past year, this project, in collaboration with Braskem, has developed a viable renewable raw material for the chemical industry. The tests used ethanol derived from […]
Petrobras Updates on Reimbursement from Partners
(Petrobras, 19.Jul.2024) — Petrobras, following up on the release disclosed on 17 June 2024, informs that obtained the approval of partners in E&P consortiums for reimbursement to Petrobras related to adherence to the PGFN-RFB 6/2024 Transaction Public Notice (tax disputes of significant and widespread legal controversy). As previously reported, several Petrobras partners […]
Record Production of S-10 Diesel at RPBC
(Petrobras, 15.Jul.2024) — In the second quarter of this year, the Presidente Bernardes Refinery (RPBC) in CubatĂŁo (SP) recorded a record in the production of S-10 diesel. It produced 990,000 mÂł, surpassing the previous mark of 966,000 mÂł in the third quarter of 2023. The figure is also higher than that […]
Petrobras to Market Bunker with Renewable Content
(Petrobras, 11.Jul.2024) — Petrobras obtained authorization from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to market maritime fuel with renewable content. The company is the first in the country to receive authorization to deliver a bunker with 24% biodiesel to the market. VLS (Very Low Sulfur) B24, produced […]
Petrobras Inks Master Agreement with Yara Brasil Fertilizantes S.A.
(Petrobras, 9.Jul.2024) — Petrobras has signed a Master Agreement with Yara Brasil Fertilizantes S.A. as a next step in its negotiations to structure potential business partnerships in the fertilizer segment, production of industrial products and decarbonization of production, in line with the Memorandum of Understanding (MOU) signed by the parties on […]
Trinidad’s Minister Young Meets with Diplomatic Missions
(MEEI, 8.Jul.2024) — The Honourable Stuart R. Young SC, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with Ms. Sandra Fraser, Permanent Secretary at the Ministry of Energy and Energy Industries, met separately, with representatives of the diplomatic missions of Brazil and […]
Petrobras informs on the Addendum to the Cessation Commitment (TCC)
(Petrobras, 5.Jul.2024) — Petrobras, in continuity to the Material Fact disclosed on 22 May 2024, informs that the Court of the Administrative Council for Economic Defense (CADE) and Petrobras signed an addendum to the Terms of Cessation Commitment (“TCC”) for Refining, signed in 2019, through which new obligations were agreed involving […]
Petrobras on Addendum to the TCC for Gas Sign with CADE
(Petrobras, 3.Jul.2024) — Petrobras, in continuity to the Material Fact disclosed on May 22, 2024, informs that the Court of the Administrative Council for Economic Defense (CADE) and Petrobras signed an addendum to the Terms of Cessation Commitment (”TCC”) for Gas, signed on 8 July 2019. As announced by Petrobras, the addendum results from […]
Termination of Contract for FPSO Cidade Santos Acquisition
(Enauta, 1.Jul.2024) — Enauta Participações, considering the Material Fact disclosed on 21 Dec. 2023, informs that it has notified MODEC of the termination of the contract to acquire FPSO Cidade de Santos, as provided by contract, which also provides for reimbursement to Enauta of 50% of the amount disbursed at […]
Petrobras on Transfer of Minority Stake in UEG Araucária S.A. (UEGA)
(Petrobras, 1.Jul.2024) — Petrobras, following up on the release disclosed on 23 Feb. 2024, in which it reported the signing of the contract for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA) to Ambar Energia S.A., announces today that it has closed the transaction. […]
Petrobras Informs on Unigel Contract
(Petrobras, 28.Jun.2024) — Petrobras, following up on the releases disclosed on 29 Dec. 2023 and 5 Feb. 2024, informs that the contract for Industrialization to Order (Tolling) signed with Unigel Group, signed on 29 Dec. 2023, did not have its conditions of effectiveness met within the established period (27 Jun. 2024) […]
Petrobras on New BOD Member Elections
(Petrobras, 28.Jun.2024) — The Petrobras Board of Directors elected the following members to the company’s executive board in a meeting held this Friday (06/28): Renata Baruzzi (Executive Director of Engineering, Technology, and Innovation), Sylvia dos Anjos (Executive Director of Exploration and Production), and Fernando Melgarejo (Executive Director of Finance and Investor […]
Petrobras, Gerdau and Naturgy Ink Deal for Gas Supply in Rio de Janeiro Free MarketÂ
(Petrobras, 21.Jun.2024) — Petrobras, Gerdau, and Naturgy have signed contracts for the supply of natural gas in the free market environment to serve Cosigua, Gerdau’s long steel production unit located in Rio de Janeiro (RJ). The agreement marks the first migration of a captive industrial market customer to the free market […]