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Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company's cash generation, even in years with accounting losses. With the changes approved, in the scenario... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit's physical progress. It was also agreed to prepare a new Development Plan... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one of the stages of... Continue Reading →
Cosan presented a proposal to buy the 51% stake in Gaspetro, a Petrobras subsidiary, which operates in the natural gas distribution market. The offer will be made through Compass, a company created by Cosan to concentrate investments in the gas and power generation market. Gaspetro holds stakes in 19 gas distributors, which exclusively operate local... Continue Reading →
Seismic survey services company Shearwater GeoServices has won a five-month contract extension for CGG’s Brazil Nebula multi-client survey. This extension-period starts in the late fourth quarter of 2020 and will be conducted by the Oceanic Sirius vessel. To remind, Shearwater had first won the contract with CGG for the Nebula project in July 2020. In a separate... Continue Reading →
Booming crude production in the region is helping to offset financial shock caused by Covid-19 Production growth has slowed to a crawl for much of the global oil sector this year. Subdued commodity prices and persistent market volatility have incentivised producers to slash capex and focus on the profitability of existing output until better economic... Continue Reading →
Australian oil and gas player Karoon Energy has appointed Dr Julian Fowles its as Chief Executive Officer and Managing Director. Karoon announced the resignation of its CEO and MD Robert Hosking at the end of July 2020 with effect from Karoon’s annual general meeting. Karoon said on Monday that Dr Fowles will start with Karoon immediately... Continue Reading →
(Reuters) - Brazil advanced to the position of third largest supplier of crude oil to China in September, import data showed on Sunday, while independent Chinese refiners obtain cheap, relatively high quality supplies from the South American exporter . Imports of the Brazilian product reached 4.49 million tons, compared to 2.96 million tons a year... Continue Reading →
News in exploratory activity in the Campos Basin. Petrobras started drilling the first well in block C-M-411 this week. The operation is being carried out with the West Tellus drillship, in a water depth of 2,953 meters. The pioneer well was named after the technical name 1-BRSA-1377-RJS. As a reminder, block CM-411 was purchased by... Continue Reading →
Brazil Energy Insight 