05/16/2017 Petrobras announced on Tuesday the new rules of its program of partnerships and divestments, which had been suspended by determination of the TCU (Court of Audit of the Union). The first test will be the sale of the Azulão gas field in Amazonas, announced on Monday night (15). Following a recommendation from TCU, the state-owned company tries to give... Continue Reading →
Petrobras’s CEO sees need to empower middle management
The head of Brazil's state-controlled oil giant Petrobras has called in an international consultancy firm to make middle management at the scandal-hit firm more proactive. Petroleo Brasileiro SA last week posted a record first-quarter operating profit but Chief Executive Pedro Parente said the company's turnaround was still far from complete and one area where the... Continue Reading →
Petrobras announces the Pricing of Reopening of Outstanding Series of Global Notes
Rio de Janeiro, Brazil – May 15, 2017 – Petróleo Brasileiro S.A. – Petróleo Brasileiro S.A. – Petrobras announces the pricing of additional notes of its 6.125% Global Notes due 2022 (CUSIP No. 71647N AR0 / ISIN No. US71647NAR08) (the “2022 Notes”), 7.375% Global Notes due 2027 (CUSIP No. 71647N AS8 / ISIN No. US71647NAS80)... Continue Reading →
CHC Brasil opens new hangar in Macaé
CHC Brasil, a subsidiary of CHC Helicopter (CHC), officially opened its new hangar at Benedito Lacerda Airport in Macaé. The new 1,270-square-foot facility is designed to accommodate up to three aircraft internally and will support the operation of the S-76, S-92 and AW139 aircraft for customers in the region. Present in Macaé since 1996, the... Continue Reading →
Petrobras captures US $ 4 billion
05/16/2017 Petrobras announced the raising of US $ 4 billion in the international market, through the issuance of debt securities. The funding was raised through the reopening of the sale of securities maturing in 2022, 2027 and 2044. The proceeds will be used to extend the term of the company's indebtedness, with the prepayment of... Continue Reading →
Sale of Azulão Field in Amazonas Basin: Disclosure of the Teaser – Petrobras
Río de Janeiro, May 15, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has started the disclosure phase of the Teaser regarding the transfer of Petrobras’ stake in the Azulão Field, in the Amazonas Basin. In this project, Petrobras offers 100% of the stake in the Azulão Field (Concession BA-3), located in... Continue Reading →
Bassoe: Market waiting for the offshore rig recovery, but what will it look like when it gets here?
There seems to be little doubt that a recovery in the rig market will happen one day, and from the analyst reports to dinner party philosophizing, the focus seems held on the timing of this expected recovery, not the likelihood of it happening. But less attention is given to what that recovery might look like... Continue Reading →
Rowan scoops two Petrobras jack-up rigs for bargain price
Drilling contractor Rowan Companies has provisionally bought two Petrobras jack-up rigs for just $30 million a piece. According to a statement by Rowan, dated May 11, the company participated in a public rig auction and was the high bidder for Petrobras’ P-59 and P-60 jack-ups. The drilling contractor said that the two 2013-built LeTourneau Super... Continue Reading →
Odebrecht O&G nears $5 billion debt restructuring deal -sources
Odebrecht Óleo & Gás SA, the offshore oil drilling firm owned by Brazil's Odebrecht SA, has obtained support from more than 60 percent of its creditors for a restructuring of about $5 billion in debt, two sources with knowledge of the matter said on Friday. The sources, who asked for anonymity because discussions are private,... Continue Reading →
Brazil acts to protect ethanol producers as U.S. imports jump
Brazil is toughening requirements for ethanol importers to protect domestic producers from an incoming surge of U.S. corn ethanol, a minister said on Monday, adding that he opposed the idea of new tariffs that could trigger costly retaliation. Buyers of foreign ethanol will now have to follow a rule applied to Brazilian ethanol producers regarding... Continue Reading →
Brazil Energy Insight 