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(Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA) said on Thursday it has hired JPMorgan Chase & Co (JPM.N) as adviser to sell its stake in petrochemical company Braskem SA (BRKM5.SA), confirming an earlier Reuters report. Earlier on Thursday, Petrobras executives said in a conference call with investors that it had hired advisers to sell its stake in... Continue Reading →
The finance director of Petrobras, Rodrigo Araújo, revealed that the company received proposals with “substantially lower” values in the sale process of the Presidente Getúlio Vargas Refinery (Repar), located in Paraná. Within the company's divestment program in the refining segment, this transaction is behind in relation to other negotiations, as detailed during a virtual conference... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider... Continue Reading →
(Valor) The president of PetroRio, Roberto Monteiro, said that the company “is ready” to take its next steps in growth. The oil company ended the second quarter with a cash position of R$4.53 billion, after issuing US$600 million in bonds in the period. Among PetroRio's new steps, the company expects to start drilling in 2022... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 01, 2021, informs the beginning of the binding phase regarding the sale of 100% of its interest in the PAR-T-175_R14, PAR-T-198_R12, and PAR-T-218_R12 Concessions, located onshore in the Paraná Basin. Potential buyers qualified for this phase will receive a process letter with... Continue Reading →
Shell courts multiple suitors for its $10B Permian shale portfolio (Bloomberg) --Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp. is also among companies considering... Continue Reading →
Subsea engineering, construction and services company Subsea 7 has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions S.L. a developer of technology for the floating wind market based in Bilbao, Spain. According to Subsea 7, Nautilus has developed a promising concept for a floating wind foundation based... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to execute... Continue Reading →
(OE) Oilfield services giant TechnipFMC plans to acquire the remaining 49% of shares in TIOS AS from Island Offshore. TIOS is an offshore well intervention joint venture formed in 2018 between TechnipFMC and Norwegian offshore vessel owner Island Offshore. TechnipFMC said Thursday the move would speed up the development of TechnipFMC’s integrated service model "focused... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/11/2020, informs that today it signed contracts for the sale of its 20% stakes in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM Participações S.A.,... Continue Reading →
Brazil Energy Insight 