Brought to you by Quest Offshore & Southern Cone Consultants
SBM, after successive postponements, was apparently the only company to bid on Petrobras' tender for the chartering of the FPSO Mero 4, which will be installed in the production sharing field of the same name, in the Santos Basin. Modec did not offer and Misc Berhard, which analyzed the project but did not submit. (Reuters)... Continue Reading →
(Reuters) - Brazilian state-run oil group Petrobras recovered some of its recent share price losses on Tuesday as the board met to consider Brazil President Jair Bolsonaro’s nomination of a retired general to replace the company’s market-friendly CEO. Shares in Petroleo Brasileiro SA, as the company is officially known, rose as much as 8% after... Continue Reading →
South Korean shipbuilder Samsung Heavy Industries agreed to pay 812 million reais ($148.56 million) in a leniency deal with Brazilian authorities to settle corruption investigations, federal prosecutors said late on Monday. On its website, the prosecutor's office said the deal was part of a global negotiation between the company and U.S. and Brazilian authorities to... Continue Reading →
(Reuters) - Morgan Stanley removed its ‘like’ recommendation on Brazil sovereign bonds on Monday, citing fiscal concerns and potential spillovers after the head of state-run oil firm Petrobras was sacked by the country’s President Jair Bolsonaro. The right-wing populist’s intervention in one of Brazil’s most valuable companies, along with a vow to reduce prices in... Continue Reading →
(Reuters) - Brazil’s securities regulator CVM is investigating the management changes at state-run oil company Petroleo Brasileiro SA, its website showed on Monday, following President Jair Bolsonaro’s announcement last week that he will replace chief executive Roberto Castello Branco. The post on the CVM website gave no details about the investigation, but comes after Petrobras... Continue Reading →
(Reuters) - Petrobras shares traded in New York plunged nearly 17% in premarket trading on Monday as analysts cut ratings on the stock after far-right Brazilian President Jair Bolsonaro moved to replace the state-controlled oil company’s market friendly CEO with a retired army general. Credit Suisse, Scotiabank, Bank of America, Bradesco and XP analysts were... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it received a letter from the Ministry of Mines and Energy, requesting measures to convene an Extraordinary General Meeting in order to promote the election and replacement of a Board of Directors member, and to appoint Joaquim Silva e Luna to replace Roberto da Cunha Castello Branco. Additionally,... Continue Reading →
(Reuters) - State-led oil company Petrobras’ board is set to meet on Tuesday as its chief executive faces pressure from Brazilian President Jair Bolsonaro to resign amid a disagreement over fuel price policies, sources told Reuters on Friday. The company’s board will discuss Bolsonaro’s efforts to force out Roberto Castello Branco over his insistence on... Continue Reading →
(Reuters) 3R Petroleum (RRRP3) will present to its shareholders, investors and the market in general the preliminary and unaudited operational data referring to the monthly production of the assets in which the oil company holds interest. Regarding the Macau Cluster, total production in January grew by 3.8%, compared to December, and totaled 4,683 barrels of... Continue Reading →
(Reuters) - The chief executive of Brazil’s state-led oil company Petrobras is resisting pressure from President Jair Bolsonaro to resign following tensions over rising fuel prices, two sources with direct knowledge of the matter told Reuters. Roberto Castello Branco was appointed CEO of Petroleo Brasileiro SA, as the state-controlled firm is known, when Bolsonaro took... Continue Reading →
Brazil Energy Insight 