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South America’s offshore output is on track to surpass volumes coming from North America by 2024, energy intelligence group GlobalData said Tuesday. While several projects in Brazil and Guyana have taken final investment decision (FID), and are less likely to be postponed or suspended, offshore US and Mexico tell a different story, GlobalData says. Key... Continue Reading →
Solstad Offshore said that Petrobras has extended the current contract of RSV Far Saga for a period of one year and picked up another vessel for operations in Brazil. According to Oslo-listed Solstad, the contract starts on Friday, 30 October 2020. The Far Saga has been operating in Brazilian waters since 2014. In addition, Petrobras has confirmed the... Continue Reading →
Petrobras and some of its partners see an opportunity to create a spin-off company, with resources from the private sector, to work on the construction of new gas pipelines in the country. The information was revealed by the president of the Brazilian state-owned company, Roberto Castello Branco, during a conference call with investors. As a... Continue Reading →
(Reuters) - Petrobras is in the advanced stages of several major divestments, executives said on Thursday, indicating that the company’s ambitious deleveraging program may quicken after a pause during the worst of the coronavirus outbreak in Brazil. Speaking to analysts following the company's third-quarter results, executives at Petroleo Brasileiro SA PETR4.SA, as the state-run oil firm... Continue Reading →
Petrobrás is on a constant path to reduce its oil extraction costs even more, especially in the challenging scenario that operators are facing in the pandemic scenario. Over the past few months, the Brazilian company has managed to go further in this objective, reducing the cost of extraction in the pre-salt layer to U$ 2.27... Continue Reading →
In November 2007 Brazil’s national oil company, Petrobras, shocked the E&P world by announcing a 5-to-8-Bbbl discovery in a completely unknown geological play: carbonate reservoirs below a 2-km layer of salt, offshore Brazil, in a 2,000-m water depth. This announcement marked the beginning of a complete turnaround in the history of Brazil’s oil and gas... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible with the company's cash generation, even in years with accounting losses. With the changes approved, in the scenario... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that, after negotiations with its partners in BM-S-11 Consortium, Shell Brasil Petróleo Ltda (25%) and Petrogal Brasil S.A. (10%), signed a commitment to purchase platform P-71, subject to the foregoing conditions related to milestones in the unit's physical progress. It was also agreed to prepare a new Development Plan... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras approved yesterday the Guide to Ethical Conduct for its suppliers. It is the first document exclusively aimed at our suppliers, with guidelines on expected values and ethical behavior. The Guide applies to all service companies, in Brazil or abroad, that are involved in business processes and have signed contracts, agreements... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs, regarding the news published in the media, that it received yesterday binding proposals for the sale of its 51% stake in Gaspetro S.A. (Gaspetro) and the proposal of Compass Gás e Energia S.A. was one of those received. The receipt of binding proposals is one of the stages of... Continue Reading →
