Brazil’s Petroleo Brasileiro SA (PETR4.SA) posted a significant net loss in the fourth quarter of last year, as a major class action settlement with U.S. shareholders weighed on results. Petrobras, as the company is known, posted a net loss of 5.477 billion reais ($1.68 billion), versus a 2.51 billion real profit during the same period... Continue Reading →
Brazil’s Petrobras Distribuidora expects 2018 fuel imports to fall
Brazilian fuel distribution company Petrobras Distribuidora SA forecast on Wednesday a drop in fuel imports this year from 2017 partly due to a more aggressive pricing policy by state-run Petroleo Brasileiro. Speaking on a conference call to discuss quarterly results, Chief Executive Ivan de Sá also cited falling margins for companies that typically import fuel.... Continue Reading →
Regulatory Natural Gas Framework in Statoil’s Sights
Statoil is awaiting the definition of the new regulatory framework for natural gas to move forward with the Pão de Açúcar project, located in the BM-C-33 block in the Campos Basin, according to Anders Opedal, president of the company. The company has already drilled all the wells committed with the ANP and is currently working... Continue Reading →
Fugro to do submarine survey in Libra
Fugro has signed a contract with Petrobras to carry out a campaign with an autonomous submarine robot (AUV) in Libra, in the pre-salt of the Santos Basin. The Dutch company has surpassed the offers presented by Bratexco Representations and Services, DOF Subsea, Gardline, CP + and the EGS group. The scope includes services of acquisition... Continue Reading →
Studies for Amendment of Petrobras’ Dividend Distribution Rules
Rio de Janeiro, March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors ordered that studies are carried out for amendments to the Company's Bylaws in connection to the clause on allocation of results, to establish quarterly payments of Dividends or Interest on Capital as well as allow the payment... Continue Reading →
CGG kicks off new multi-client survey off Brazil
French geophysical services player CGG has begun the acquisition of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin offshore Brazil. CGG said on Thursday that the Santos VIII was the most recent survey in the company’s on-going pre-salt program that delivered seismic data, enabling exploration companies to better... Continue Reading →
Statoil on track to triple Brazilian output as regulator clears Roncador deal
Brazilian competition regulator has reportedly given its approval to Statoil to acquire part of Petrobras-owned interest in the Roncador field offshore Brazil. The transaction nearly triples Statoil’s production in Brazil. According to Reuters’ report on Tuesday, Brazil’s Administrative Council for Economic Defense, also known as CADE, gave its unconditional approval to the Norwegian state-owned giant for the... Continue Reading →
Petrobas – Sale of Liquigás: Receipt of Contractual Fine
Rio de Janeiro, March 14, 2018 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact published on 02/28/2018, hereby informs that it received yesterday from Companhia Ultragaz SA the contractual fine payment of R$ 286.2 million, due to the disapproval by the Court of the Administrative Council of Economic Defense (CADE) of the... Continue Reading →
ANP Seeks Alternatives to Fines in Local Content
03/14/2018 One option is to turn R & D investment into local content engagement. The ANP is studying alternatives to avoid imposing fines for non-compliance with local content requirements, said director Aurelio Amaral, on Tuesday (13/3), in a conversation with journalists during an event held by Aker Solutions in Curitiba. According to the director, this... Continue Reading →
New structure, leadership team revealed for McDermott-CBI combined company
McDermott and Chicago Bridge & Iron Company N.V. (CBI) have selected the executive leadership team and integrated organizational structure of the combined company, which will be effective upon the close of the transaction. The two companies agreed to merge in an all-stock transaction to create an integrated onshore-offshore company in December 2017. The deal was valued at... Continue Reading →
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