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(OE) Eight Amazon rainforest nations are expected to face divisions over proposals to block new oil drilling and end deforestation when they meet on Tuesday for their first summit in 14 years. The meeting of the Amazon Cooperation Treaty Organization (ACTO) gathers heads of state from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname and Venezuela... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the news released in the media and as disclosed to the market on 06/01/2023, informs that the Strategic Plan 2024-2028 will have as a driver, among others, the forecast of low-carbon CAPEX for the range between 6% and 15% of the total CAPEX for the first five... Continue Reading →
(Reuters) - Brazil's Petrobras may increase investments in its next five-year business plan by up to 10% over the previous one, which would place the state-run oil company's capital expenditures at around $86 billion, Chief Financial Officer Sergio Caetano Leite said in an interview on Monday. The increase in the 2024-2028 plan, still being discussed,... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company Petrobras is closely following negotiations for a majority stake in petrochemicals producer Braskem SA and will be ready to act if any of the proposals go forward, Chief Financial Officer Sergio Caetano Leite said during a press conference Friday. Petroleo Brasileiro SA, as it is formally known, has the... Continue Reading →
Petrobras started contracting process for FPSO for the Barracuda and Caratinga Field Revitalization Project, another important milestone in the Campos Basin revitalization plan. The announcement was published on the Petronect portal last Friday (04/08). The new FPSO will have the capacity to produce up to 100 thousand barrels of oil per day (bpd) and process... Continue Reading →
(OE) Oilfield services firms SLB, Subsea 7, Aker Solutions have received approvals from all relevant competition authorities to create a subsea joint venture, as proposed in August 2022. "Following clearance as of [Friday] by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway,... Continue Reading →
(OE) Malaysian FPSO leasing company Yinson Production said Monday it had secured a $230 million term loan facility in relation to FPSO Maria Quitéria Yinson is delivering for Petrobras in Brazil. The loan facility was structured and arranged by Global Infrastructure Partners (“GIP”), an independent infrastructure fund manager with approximately USD100 billion in assets under... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the material fact disclosed on July 28, 2023, informs that its Board of Directors, in a meeting held yesterday, approved a Share Buyback Program for Shares Issued by Petrobras (Buyback Program), to remain in treasury and subsequent cancellation, without reducing the share capital. The Buyback Program will... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of shareholder remuneration in the amount of R$ 1.149304 per common and preferred share, as anticipation for 2023, declared based on the balance sheet of June 30, 2023. The approved shareholder remuneration is in line with... Continue Reading →
Main achievements: • Robust recurring EBITDA of US$ 11.7 billion, a 19% decrease compared to 1Q23, mainly influenced by international diesel crack spreads, which declined more than 40% QoQ• Gross debt under control at US$ 58 billion, even after the increase in leases due to the startup of chartered FPSOs Anna Nery and Almirante Barroso•... Continue Reading →
Brazil Energy Insight 