(Reuters) - Brazil’s state-run oil firm Petrobras wants to further lower its stake in Petrobras Distribuidora SA, the fuel distribution unit it recently privatized via a share offering, the company’s chief executive said on Friday. Roberto Castello Branco added that Petroleo Brasilerio SA, as the company is officially known, has divested 70 oil blocks so... Continue Reading →
Petrobras CEO Roberto Castello Branco said the reason most major oil companies didn’t show up for Brazil’s massive auction was because of the astronomic price tag and regulatory uncertainties. “The amount that companies would need to commit upfront, with license fees and compensation to Petrobras, was too high,” Castello Branco said in an interview Wednesday... Continue Reading →
Oct 24, 2019 MESSAGE FROM THE CEO The company's performance in 3Q19 is already starting to reflect the implementation of our value creation strategy. Oil and gas production reached a record level of 3.0 MMboed in August, when a daily record of 3.1 MMboed was also reached. The ramp-up of the new platforms significantly influenced... Continue Reading →
August 21, 2019 For Roberto Castello Branco, regime does not stimulate the efficiency of companies Petrobras President Roberto Castello Branco defended the end of the sharing regime that is mandatory for the exploration and production of oil in the pre-salt fields. According to Castello Branco, the regime does not encourage the pursuit of efficiency. According... Continue Reading →
August 8, 2019 The changes that may be made by Petrobras to the Rio de Janeiro Petrochemical Complex project will now be licensed by the State Environmental Institute (Inea), an environmental agency of the state of Rio de Janeiro, and no longer by Ibama. The move is part of a 10-year technical cooperation agreement... Continue Reading →
Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote... Continue Reading →
Brazil's state-controlled oil company Petrobras will scrap plans to invest in renewable energy projects, but says it will continue research and development projects in the field, according to chief executive Roberto Castello Branco. “About renewables, we are investing in research and we will just not invest in operational assets because it is something that requires... Continue Reading →
Aug 2, 2019 Petrobras President Roberto Castello Branco said that the company is reviewing its strategic plan and expects to announce to the market the new strategy in November. He pointed out that the plan will focus on cost reduction. "We want to bridge the gap that separates us from our peers," he said in... Continue Reading →
Petrobras had a good financial performance in 2Q19, although we benefited from external factors beyond our control, such as oil prices, the BRL/USD exchange rate and crack spreads, and non-recurring events, such as assets divestments. Accounting net income excluding non-recurring factors was R$ 5.2 billion and operating cash flow reached R$ 20.5 billion. Advances in... Continue Reading →
July 16, 2019 The President of Petrobras, Roberto Castello Branco, and the President of Uruguay, Tabaré Vázquez, met with the objective of seeking a definitive solution on the disputes arising from the concessions of Conecta SA and the Gas Distributor of Montevideo SA. The presidents reached the bases of an agreement, by which: a) The... Continue Reading →
