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Brazilian state-controlled oil company Petrobras has bought its first cargo of Guyanese crude for refining domestically, the company told Reuters, as South America's newest producer expands its market reach. With the start of a second floating production facility in February, Guyana now sells two light and sweet oil grades with plans to pump up to... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the video published in the media about the reserve for profit distribution, clarifies that the information that there is a reserve of R$ 200 billion for distribution of profits by the company is not true. The amount of R$ 208.6 billion cited in Petrobras' Individual Financial Statements... Continue Reading →
DOF Subsea has secured the extension of four PIDF contracts with Brazilian oil and gas giant Petrobras. The extensions will demand a fleet of at least three vessels operating for 18 months in direct continuation to the original schedule, performing flexible pipelines, risers and subsea equipment inspection in the Campos Basin, Santos Basin, Marlin Field... Continue Reading →
(Reuters) - The sudden resignation of Petrobras' CEO may speed up the accession of a government-backed candidate to the top job, four sources said, an appointment seen aimed at giving the state a greater say over fuel pricing in Latin America's No. 1 economy. On Monday, Petrobras (PETR4.SA) announced that Jose Mauro Coelho was stepping down as... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes said on Monday that privatizing state-run oil firm Petrobras (PETR4.SA) via migration to the "Novo Mercado" segment of the Brazilian stock exchange would increase its market cap from 450 billion reais to 750 billion reais ($145 billion). The Novo Mercado is a segment of the B3 exchange with stricter governance... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes is firmly against the idea of tax increases on the oil and gas industry, four ministry sources told Reuters, following days of government discussions about how to address political blowback over high fuel prices. The Economy Ministry officials, who requested anonymity to comment on confidential discussions, said the... Continue Reading →
(Reuters) - The chief executive of Brazilian state-run oil company Petrobras resigned on Monday in the face of mounting pressure from politicians following a fuel price hike last week, with a high-ranking company insider quickly tapped to replace him on an interim basis. Petroleo Brasileiro SA (PETR4.SA), as the company is formally known, said in a... Continue Reading →
(Reuters) - Curacao will begin negotiations with a seven-company consortium to take over management of the Caribbean island's oil refinery and storage terminal, state-owned Refineria di Kòrsou (RdK) said on Sunday. Curacao's 330,000-barrel per day Isla refinery was idled in 2018 amid a payment dispute between then-operator Petroleos de Venezuela (PDVSA) and U.S. oil company... Continue Reading →
(Reuters) - The chief executive of Brazil'sstate-run oil company Petrobras (PETR4.SA)resigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week, adding to inflation concerns in an election year. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that Chief Executive... Continue Reading →
(Reuters) - The chief executive of Brazilian state-run oil company Petrobras (PETR4.SA), Jose Mauro Coelho, may resign on Monday as he faces mounting pressure from top politicians after a new fuel price hike was announced last week, newspaper O Globo reported. The report mentioned board members who had spoken with Coelho during the weekend. Petroleo Brasileiro... Continue Reading →
