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(Reuters) -Shareholders in Brazil’s Petrobras voted on Monday to remove Roberto Castello Branco as CEO, and elected his government-picked successor to the board of directors, but discontent among some investors threatens to drag out the transition process. The dismissal of Castello Branco, while widely expected, is an important step in the government’s plan to place... Continue Reading →
(Reuters) - For many investors, the appointment of former army general Joaquim Silva e Luna as the new chief executive of Brazil’s state-run oil company Petrobras was unexpected - and unwelcome. President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook... Continue Reading →
Shareholders of U.S. oil supermajor Chevron are set to vote on proposals aiming to require the oil company to reduce the environmental impact of its products and report on climate business risks. Chevron said in early March that it exceeded its 2023 upstream carbon intensity reduction targets three years ahead of schedule and announced lower... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, pursuant to CIRCULAR LETTER/CVM/SEP/No.01/2021, reports that it has received the nomination of candidate José João Abdalla Filho for the Board of Directors which election will take place at the Extraordinary General Meeting of April 12, 2021.The candidate was nominated by shareholders FIA Dinâmica Energia and Banclass FIA. The candidate will... Continue Reading →
The board of the National Petroleum Agency (ANP) approved the sale of 50% of Barra Energia's stake in the Atlanta field, in the BS-4 block, to Enauta. With the endorsement in hand and the 100% share of the asset, the operator is now looking for new partners to proceed with the development of the area.... Continue Reading →
XP analysts (NASDAQ: XP) reduced the maximum price estimate for the sale of six Petrobras refineries (SA: PETR4) by U$ 5.7 billion, when reviewing their calculations after the Landulpho Alves Refinery (Rlam), was sold for less than market expectations. In the new calculation, which considers some risks related to fuel prices for future refinery owners,... Continue Reading →
(Reuters) -Energy group BP said on Tuesday it expects to have hit its $35 billion net debt target in the first quarter of this year, sooner than expected and paving the way for it to deliver on its promise of buying back shares. “This is a result of earlier than anticipated delivery of disposal proceeds... Continue Reading →
Japan’s floating solutions provider MODEC has made changes to its executive management team following the resignation of its President and CEO. In an update last Friday, MODEC shared that Yuji Kozai had offered to resign from the office of Representative Director, President & CEO, as well as the office of Director, for reasons of ill-health. Following the... Continue Reading →
Dutch offshore survey services company Fugro has agreed to sell its Seabed Geosolutions subsidiary to PXGEO Seismic Services (PXGEO) to for USD 16 million (approximately EUR 14 million) in cash. The transaction is expected to be completed mid-2021. The divestment includes Seabed’s ocean bottom node (OBN) inventory, handling equipment, related technology and order backlog. In... Continue Reading →
(Reuters) - Brazil’s Petrobras has fired a high-ranking manager after determining he had traded company shares in the days leading up to the firm releasing its financial results, the company said on Monday. Earlier on Monday, four sources familiar with the matter told Reuters that Claudio Costa, Petrobras’ executive manager for human resources, sold shares... Continue Reading →
Brazil Energy Insight 