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March 26, 2020 Petróleo Brasileiro S.A – Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the change in the date of payment of the remaining remuneration to the shareholders in the form of dividends for the year 2019, which was subject to the resolution of the Annual General Meeting, from... Continue Reading →
China's national offshore energy producer CNOOC Ltd reported a 15.9% rise in 2019 profit on Wednesday, its best performance in five years thanks to higher oil and gas output and persistent cost control. CNOOC, one of the industry's lowest-cost explorers and producers, had planned to lift capital spending this year to its highest level since... Continue Reading →
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war. The company expects a rapid reduction in active drilling and hydraulic fracturing activity, estimating the number of rigs... Continue Reading →
Norwegian oil and gas major Equinor has revealed an action plan to battle the impacts of the coronavirus and low commodity prices under which it will reduce its spending for 2020 by $3 billion. Equinor said on Wednesday that it could be organic cash flow neutral before capital distribution in 2020 with an average oil... Continue Reading →
Oil and gas major Chevron has made a decision to reduce its 2020 capital spending plan by $4 billion thereby joining many of its peers in drastic measures to mitigate the negative effects of the coronavirus pandemic and the recent plunge in oil prices. Apache, Murphy Oil, ExxonMobil, ConocoPhillips, Noble Energy, Shell, Aker BP, Husky Energy, Total, and Lundin are only some of the operators... Continue Reading →
Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion... Continue Reading →
In response to the current market environment, oil major Shell has decided to reduce its operating costs by up to $4 billion in 2020 and to cut its capital expenditure from $25 billion to $20 billion. As the COVID-19 virus spreads across the world – seriously impacting people’s health, the way of life and global... Continue Reading →
In an effort to alleviate the concequences of the recent oil price plunge, French oil major Total has revealed its plan to reduce the capex for 2020 by more than $3 billion and save about $800 million in operating costs compared to 2019. Total will also suspend its buyback program. Patrick Pouyanné, Chairman & CEO... Continue Reading →
March 20, 2020 Petrobras has requested the banks the disbursement of its revolving credit lines, in the amount of around US$ 8 billion. The disbursement is consistent with the strategy of strengthening the company's liquidity in order to protect itself within the current crisis scenario, due to the COVID-19 (coronavirus) pandemic and the oil prices... Continue Reading →
GENERAL SHAREHOLDERS' MEETING CALL NOTICE The Board of Directors of Petróleo Brasileiro SA - Petrobras convenes the Company's shareholders to meet at General Shareholders' Meeting on April 22, 2020, at 3:00 p.m., in the auditorium of the Headquarters Building, Avenida República do Chile 65, 1st floor, in the city of Rio de Janeiro (RJ),... Continue Reading →
