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(Reuters) - Brazil’s state-controlled oil producer Petroleo Brasileiro SA is considering selling its remaining stake in gas station chain BR Distribuidora if its stock recovers to 26 reais a share, three people with knowledge of the information said. For the first time since the COVID-19 pandemic stalled the sale process, Petrobras has agreed on a... Continue Reading →
Petrobras had its best operating performance in 2020, overcoming considerable challenges arising from the pandemic, contraction in global demand for fuels and low prices. We reached annual production records of 2.28 million barrels per day (MMbpb) of oil and NGL and 2.84 million barrels of oil equivalent per day (MMboed) of total production. Previous production... Continue Reading →
Petrobras opened today the envelopes with the proposals to build their own P-78 and P-79 FPSOs. The Keppel / Hyundai consortium presented the lowest price in Petrobras' bid for the construction of the P-78, the oil company's own FPSO that will be used in the Búzios project. Three Korean shipyards submitted proposals and participated in... Continue Reading →
(Reuters) -Top U.S. oil producer Exxon Mobil on Tuesday posted its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and it reduced the value of its shale gas properties by more than $20 billion in the fourth quarter. Exxon cut up to 15% of its workforce and delayed oil... Continue Reading →
Lenders of the troubled marine seismic contractor Polarcus, which last week took control of the company's vessel after a debt payment default, will sell Polarcus' vessels and all the employees will be let go. Banks last week tool control of Polarcus' subsidiaries that own seismic vessels, with the subsidiaries in question being Polarcus Asima AS,... Continue Reading →
(Reuters) - BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, and the energy company warned of a tough start to 2021 amid widespread travel restrictions. Despite the weak environment, however, CEO Bernard Looney told Reuters the company’s transition to... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that the Chief Governance and Compliance Officer, Marcelo Zenkner, has notified his intention to not renew his mandate, which will expire on March 20, 2021, for personal reasons: “I consider the mission of disseminating and generating engagement of the integrity culture at Petrobras duly fulfilled. Many achievements have been... Continue Reading →
Forbearance agreements entered into by offshore drilling contractor Seadrill Limited with certain creditors in respect of the group’s senior secured credit facility agreements have now expired. Seadrill said that the term of the forbearance agreements expired on 29 January 2021 and that the creditors with which forbearance agreements were entered into were no longer prevented... Continue Reading →
(Reuters) - The chief compliance officer at Brazil’s state-run oil company Petrobras has communicated plans to step down in March, four people familiar with the matter told Reuters, in what would be the third swap of the company’s top corruption buster in three years. Petroleo Brasileiro SA, as the company is formally known, has already... Continue Reading →
Despite the devastating downturn of 2020, most global majors held up quite well during the market turmoil and Total outperformed all its peers, a Rystad Energy comparative analysis reveals after measuring key upstream performance metrics. Total outshined all other peers, as the French company not only excelled in financial and operational performance but also was... Continue Reading →
Brazil Energy Insight 