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May 15, 2020 Petrobras is well prepared to operate with oil prices as low as $ 15 a barrel, after putting in place several measures to deal with the sector's global crisis scenario, and may make further cost cuts, the company executive director of Finance and Investor Relations, Andrea Almeida, said on Friday. In view... Continue Reading →
May 15, 2020 At the press conference given by Petrobras management, the company's president, Roberto Castello Branco, made a point of stressing the change in the name of the Rio de Janeiro Petrochemical Complex (Comperj), which he refers to as a “graveyard of corruption”. In an attempt to erase the past of scandals involving the... Continue Reading →
MAY 18, 2020 HELOÍSA ESTEVES is the new director for the study of oil, gas and biofuels of the Energy Research Company (EPE). Heloisa, who was in the Superintendence for Promotion of Bids of the National Petroleum Agency (ANP), had her appointment confirmed on the 15th in the Federal Official Gazette. Esteves will occupy the... Continue Reading →
Norwegian offshore support and subsea service vessel owners DOF and DOF Subsea have reached stand-still agreements with lenders representing to 93% secured debt of DOF companies. The agreement means all payments of principal and interest to the secured lenders are suspended until 30 June 2020 on certain customary terms and conditions. Continue reading
May 17, 2020 Petrobras confirmed the characteristics of reservoirs in ultra-deep waters on the Sergipe coast, more precisely in the FARFAN field, 80 kilometers from the coast. A Long Term Test (TLD), carried out between February and April this year, confirmed the reservoir. "It is important that we receive this data, as it gives us... Continue Reading →
May 17, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on May 11, 2020, informs that it started yesterday the Extended Well Tests (EWT) in the Discovery Assessment Plan (DAP) of Forno, in the Albacora field, located in the Campos Basin pre-salt. The test is being carried out in well... Continue Reading →
May 15, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on May 4, 2020, announces the beginning of the non-binding phase regarding the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro). Qualified parties for the non-biding phase will receive a process letter with detailed instructions on the... Continue Reading →
May 15, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on March 31, 2020, announces the beginning of the non-binding phase regarding the sale of its remaining stake (10%) in Nova Transportadora do Sudeste S.A. (NTS). Qualified parties for the non-biding phase will receive a process letter with detailed instructions... Continue Reading →
Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America's largest economy. On a Friday earnings call with analysts, executives credited the company's strong relationship with independent refineries... Continue Reading →
May 15, 2020 PetroRio recorded positive indicators in the first quarter, such as the increase in production and reserves and an Adjusted EBITDA of R $ 238.9 million - almost 12x above the R $ 20.2 million obtained in the same period of 2019. Net profit in the period was R $ 44.5 million, despite... Continue Reading →
Brazil Energy Insight 