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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 →
For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades. In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis,... Continue Reading →
May 14, 2020 The crisis in the oil industry forced Enauta to change its plans for the Atlanta field, in the Santos basin. The company announced that it has decided to postpone the taking of prices for chartering the definitive FPSO for the field. In addition, the oil company will also reevaluate the design of... Continue Reading →
Brazil's Petrobras took a 65.3 billion real ($11.2 billion) impairment on its exploration and production assets on Thursday, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent. The impairment led Petroleo Brasileiro SA, as the firm is formally known, to book a first-quarter net loss of 48.5 billion... Continue Reading →
We are making ad hoc adjustments now, without losing sight of our long-term goals. The current scenario, of a sharp drop in Brent prices and a decline in demand for fuels, is causing the biggest crisis in the oil industry in the last 100 years. Due to the crisis, we are making timely adjustments to... Continue Reading →
Petrobras released their 1st quarter, 2020 Financial Results. Please read full report here: PBR 1Q2020 Performance
Brazil Energy Insight 