Petrobras will launch bids for three new oil rig platforms in 2018. Petrobras president Pedro Parente reported that he has already begun the bidding process to contract a platform (FPSO) for the Búzios field in the pre -salt. In addition, two more bids will be made: one for the revitalization of the Marlim field... Continue Reading →
Petrobras Prepayment of bank debt and new financing
Rio de Janeiro, November 17, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it has raised yesterday funds with a syndicate of commercial banks led by Standard Chartered, in the amount of US$ 1 billion. In addition to Standard Chartered, the syndicate consists of China Construction Bank, ABN AMRO Bank, Industrial and Commercial Bank... Continue Reading →
Petrobras Change in the Production Development and Technology Office
Rio de Janeiro, November 16, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that Roberto Moro, Chief Production Development and Technology Officer (CPDTO), submitted today his resignation to the post, due to his retirement. Petrobras informs that its Board of Directors approved the appointment of the Chief Human Resourses, HSE and Services Officer, Hugo Repsold... Continue Reading →
Petrobras Divestment Opportunities in Onshore Fields: Start of the non-binding phase
Rio de Janeiro, November 17, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 08/28/2017, informs the start of the non-binding phase related to the full sale of its exploration, development and production rights in three sets of onshore fields (totaling 50 concessions), located in Rio Grande do Norte and... Continue Reading →
Petrobras shares sink on weak third-quarter results
Shares of Brazil’s Petroleo Brasileiro SA (PETR4.SA) plunged 7.8 percent on Tuesday a day after the state-controlled oil company reported disappointing third-quarter earnings. Read more
ONIP’s Program ” Virtuoso Circuit” for the Oil and Gas Industry in Brazil is launched at Firjan
Based on the positive result of the last oil and natural gas bidding rounds, the Ministry of Mines and Energy (MME) launched ,in partnership with the National Organization of the Petroleum Industry (Onip) and the Federation of Industries of the State of Rio de Janeiro (Firjan), the Virtuoso Circuit program for the Oil and Gas... Continue Reading →
Brazil to cut $12 billion fine for construction firm Andrade Gutierrez
The Brazilian government has backed off a previous plan to fine construction and engineering conglomerate Andrade Gutierrez SA 40 billion reais ($12 billion) for its participation in a graft scheme, a national newspaper reported on Thursday. Read more
GE evaluating ‘exit options on Baker Hughes’ months after megamerger
Boston-based General Electric Co. (NYSE: GE) and Houston-based Baker Hughes Inc. closed on their megamerger over the summer, combining the latter with GE Oil & Gas to form Baker Hughes, A GE Company (NYSE: BHGE). Since then, GE has announced several changes and this week unveiled a major turnaround plan. The plan includes a variety of measures — from changes to executives’ paychecks to $20... Continue Reading →
Petrobras Chief in a Rush to Deliver as Election Season Nears
The clock is ticking for Petrobras’ Pedro Parente. Chief executive officer since May 2016, Parente has set an aggressive agenda to solidify the state-controlled company’s finances after the twin challenges of the oil rout and a corruption scandal dealt it a near-death experience. Now, he’s rushing to finish his work before an unpredictable presidential campaign makes... Continue Reading →
Petrobras – Arbitrations filed by pension funds
Rio de Janeiro, November 14, 2017 - Petróleo Brasileiro S.A. - Petrobras, further to the press releases disclosed on 10/04/2017 and 11/13/2017, informs that it has been notified, today, of two requests for the filing of an arbitration before the B3 Arbitration Chamber, one by Petros and another by Previ. In addition, the company was... Continue Reading →
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