Petrobras, carrying the largest debt load among global oil majors, is rolling a year’s worth of promises into a week of significant announcements aimed at trimming the gap before an unpredictable presidential campaign starts to gear up. Read more
Brazil tries to avert credit downgrade as pension reform doubts grow
Brazil’s Finance Minister Henrique Meirelles will speak to major credit rating agencies on Thursday as the government scrambles to avoid a sovereign debt downgrade due to growing doubts that its proposed pension reform can rein in surging public debt. Read more
Bullish or Bearish for Oil Next Year? Here’s What Big Banks Say
Oil is on course for a second annual gain after last month’s decision by OPEC and its allies to extend production curbs in a bid to shrink bloated inventories. While some banks raised their 2018 crude price forecasts, others were less bullish. Read more
PetroquímicaSuape and Citepe sale process General Superintendence of the Administrative Council for Economic Defense (CADE) Decision
Rio de Janeiro, December 18, 2017 - Petróleo Brasileiro S.A. – Petrobras, pursuant to the press release disclosed on 10/11/2017, concerning the analysis of the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Textil de Pernambuco (Citepe), Petrobras wholly-owned subsidiaries, to Alpek, informs that, as published in the Official Federal Gazette today, the... Continue Reading →
Petrobras and Statoil sign contracts related to the Strategic Partnership
Rio de Janeiro, December 18, 2017 - Petróleo Brasileiro S.A. - Petrobras reports that it has signed today, with the Norwegian company Statoil, the contracts related to the assets of the strategic partnership, in continuity with the Heads of Agreement (“HoA”) signed and disclosed on 9/29/2017. The main signed contracts are: (i) Strategic Alliance Agreement... Continue Reading →
Libra Consortium signs contract for FPSO for Mero Field
Rio de Janeiro, December 18, 2017 - Petróleo Brasileiro SA - Petrobras, the Libra Consortium operator, announces that it signed, on November 14th, a contract with the Modec group to charter a FPSO platform (a Floating Production Storage and Offloading unit), the first definitive production system of Mero Field, which will be used in the... Continue Reading →
Petrochina negotiates refinery entrance in Maranhão
PetroChina, the largest Chinese oil company, is studying to partner with Sinopec in the project for the refinery Premium I in the state of Maranhão. Discussions on the project have advanced in the last week in two meetings held in Rio de Janeiro, one in the ANP and another in the EPE. The first meeting... Continue Reading →
Total takes investment decision for large-scale development of Libra field
French oil company Total has taken the investment decision for the first large-scale development phase of the Libra project, located 180 kilometers off the coast of Rio de Janeiro, in the pre-salt area of the Santos Basin in Brazil. This phase, consisting of a floating production storage and offloading (FPSO) unit with a production capacity of... Continue Reading →
Siem Helix 2 begins work in Brazil
Helix Energy Solutions has informed that the Siem Helix 2 has successfully completed the vessel acceptance process and is on contract offshore Brazil. The well intervention vessel will be performing well intervention services under a multi-year contract with Petrobras. Read more
Petrobras – Approval of amends to the bylaws for accession to B3’s Level 2 special listing segment of Corporate Governance and definition of public interest
Rio de Janeiro, December 15, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press releases of June 5 and October 26, 2017, informs that its Shareholders Meeting approved today changes to its Bylaws which will allow the company to apply for accession to B3’s Level 2 special listing segment of Corporate Governance. Petrobras... Continue Reading →
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