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Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved the execution of the Term of Closing of Pendencies (TCP) between, on the one hand, Petrobras and one of its affiliates (jointly, Petrobras) and, on the other hand, Novonor S.A. (previously called Odebrecht S.A.) and some of its affiliates (jointly, Novonor/Odebrecht), for the... Continue Reading →
(PetroleoHoje) Ocyan signed a contract with Petrobras for the removal of flexible and umbilical ducts from the Cidade do Rio de Janeiro, Cidade de Rio das Ostras and Piranema FPSOs, located in the Campos and Sergipe-Alagoas basins. Ocyan had submitted the lowest bid in the state-owned company's tender, with a value below R$900 million. The... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) has a strong governance and there is no room for "adventurers" within the firm, said outgoing Chief Executive Joaquim Silva e Luna on Tuesday. During a lecture at the Superior Military Court, in Brasilia, he came out in defense of the state-owned company's price parity policy, which guarantees its profitability in the refining... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes said on Tuesday that a privatisation of oil giant Petrobras was not on the agenda after the government said it would appoint a market-friendly consultant as new chief executive. Speaking to journalists during a visit in Paris, Guedes outlined several planned privatisations, but when asked about the energy... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has tapped a well-known academic and energy consultant as the next head of state-run oil company Petrobras, effectively ending the tenure of current CEO Joaquim Silva e Luna less than a year after he was appointed. In a statement on Monday, Brazil's Mines and Energy Ministry announced the slate... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro has moved to replace the chief executive of state-run oil company Petrobras (PETR4.SA), three sources with knowledge of the matter said on Monday, amid renewed tension over the company's fuel pricing policy. A list of board members that Bolsonaro's government drafted for shareholder approval at an April meeting did not... Continue Reading →
Tanker operator AET named its new shuttle tanker Eagle Colatina earlier this week in South Korea. The vessel is the first of three purpose-built Suezmax dynamic positioning (DP2) shuttle tankers for a long-term charter to the Brazilian oil company Petrobras based on the agreement signed in February 2020. Shuttle tankers are used for the offloading... Continue Reading →
French offshore seismic surveyor CGG has secured a two-part Ocean Bottom Node (OBN) seismic imaging project by PXGEO over the Sapinhoá Shared Reservoir in the Santos Basin offshore Brazil. "The resulting data will bring improved geological insight to the asset operator, Petrobras, to assist with better management of oil recovery and production development," CGG said. Peter... Continue Reading →
(Reuters) - Brazil antitrust watchdog CADE extended the deadline for Petrobras (PETR4.SA) to sell its refineries as part of obligations assumed by the company in an agreement to stimulate competition in the local oil refining market, the agency said on Wednesday. The new schedule for the sales was not disclosed by CADE in order not to prejudice... Continue Reading →
(Reuters) A Brazilian Senate committee on Tuesday approved an invitation to Petrobras Chief Executive Joaquim Silva e Luna to explain the state-run oil company's dividend policy, amid surging oil prices. The infrastructure committee also approved another request for a public hearing with oil industry experts. "We have seen successive increases in fuel prices in the... Continue Reading →
Brazil Energy Insight 