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May 08, 2020 Petróleo Brasileiro S.A. – Petrobras reaffirms its commitment to the proposals of the new gas market and informs that the sale prices of the product (which include the molecule and transportation parcels) to the distributors in the new contracts started in January had an average reduction of 36%, in US$/MMBtu, in May... Continue Reading →
Brazilian oil giant Petrobras (PETR4.SA) said on Friday that its cash burn could reach $1 billion a month in periods of extreme stress and volatility, noting the current level of uncertainty in being able to accurately predict spending. The state-owned firm, formerly known as Petroleo Brasileiro S.A., cited current costs, expenses and volatile oil prices... Continue Reading →
May 8, 2020 Oil company plans to drill up to three wells in the Patola discovery area, in the shallow waters of the Santos Basin Karoon submitted a project to Ibama to drill two production wells and a contingent in the area of the discovery of Patola, in the south of the Santos Basin. The... Continue Reading →
May 08, 2020 Petróleo Brasileiro S.A. – Petrobras in view of the news published today in the media regarding the meeting held on 05/06/2020 by the Executive Board in an internal event with the company's employees, clarifies that it has been keeping the market informed about the actions on resilience adopted due to the impacts... Continue Reading →
May 07, 2020 Petróleo Brasileiro S.A. – Petrobras informs that the rating agency Fitch Ratings revised today the company's international long-term ratings outlook from stable to negative, and maintained the ratings of Petrobras at "BB-". This week the agency revised the sovereign rating outlook due to uncertainty over the duration and intensity of the Covid-19... Continue Reading →
May 7, 2020 Petrobras continues its effort to protect its employees. The company has already carried out about 6,300 tests for Covid-19 among its employees, service providers and contact persons of suspected cases. Of this total, about 4 thousand were rapid tests, which detect antibodies and have been used, for example, to screen professionals before... Continue Reading →
May 7, 2020 Petrobras should start in June a new exploratory campaign in the Campos Basin, in the CM-657 block, acquired in the 15th ANP Concession Round, in 2018. Although the company is postponing some works and cutting investments due to the Covid-19 crisis and the price of oil, the oil company is prepared to... Continue Reading →
May 6, 2020 Petrobras received approval from the regulatory authority for the acquisition of a slice of Norwegian Equinor's operations in two exploration blocks in the Espírito Santo Basin. The Administrative Council for Economic Defense (Cade) gave unrestricted endorsement to the businesses, which involve the ES-M-598 and ES-M-673 blocks, according to an order published in... Continue Reading →
May 6, 2020 Petrobras President Roberto Castello Branco said on Tuesday that he expects the global economic recovery to proceed slowly after the new coronavirus pandemic. Given this, he does not believe that oil prices will return to the level of $ 60 or $ 70 a barrel. "The adjustment mechanism [of the industry to... Continue Reading →
May 06, 2020 Petrobras obtained support from Odebrecht to transform Braskem into a company with no defined control, thus facilitating a future sale of its stake in the petrochemical company via the capital markets, said the president of the oil company, Roberto Castello Branco on Tuesday. The executive considered, however, that it is necessary to... Continue Reading →
Brazil Energy Insight 