Apr 30, 2020 Petrobras intends to acquire Equinor's stakes in blocks ES-M-598 and ES-M-673, in deep waters in the Espírito Santo Basin. They are operated by the Norwegian company with a 40% stake, in partnership with Petrobras (40%) and Enauta (20%). At the end of the operation, Petrobras will hold an 80% interest in both... Continue Reading →
Coronavirus Hits 7 Petrobras Offshore Platforms in Campos basin
Apr 30, 2020 Seven platforms operated by Brazilian oil company Petrobras in the Campos basin have confirmed cases of the coronavirus among its staff, the FUP oil workers union said on Wednesday. The FUP will ask oil industry regulator ANP and health authorities to halt work on the platforms with the most cases, adding that... Continue Reading →
Ample storage and a recovering China insulate Petrobras from the oil glut
-Petrobras, Brazil’s state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime. Demand destruction from the Covid-19 pandemic has prompted producers globally to shut in barrels nobody wants. While there’s no real winners with oil prices... Continue Reading →
Petrobras again postpones the deadline for offshore rigs to May
Apr 28, 2020 Petrobras has postponed, once again, the delivery dates for the proposals for two tenders for the chartering of offshore rigs. The receipt of bids was scheduled for April 30, but the bidding committee moved the deadlines to May 30. Amid the Covid-19 crisis and the renegotiation of ongoing contracts bidders see future... Continue Reading →
Petrobras reviews top metrics
April 28, 2020 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors has approved the revision of the top debt metrics included in the 2020-2024 Strategic Plan, replacing the net debt/EBITDA indicator to the gross debt indicator. The review of the metric considered the high volatility of the net debt/EBITDA indicator, extremely sensitive... Continue Reading →
Yinson Welcomes Sumitomo as Partner in Brazil FPSO Project
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project. Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations, and maintenance of FPSO Anna Nery, an FPSO for Petrobras' Marlim revitalization project in Brazil. Continue reading
Petrobras production up despite global recession and health crisis
The negative effects of the global recession caused by the public health crisis did not substantially impact Petrobras’ production and sales performance in the first quarter, according to the Brazilian oil company’s production and sales report. Petrobras said on Monday that the average production of oil, NGL, and natural gas was 2,909 kboed, resulting in... Continue Reading →
BW Offshore mulls FPSO layup after new Petrobras extension expires
FPSO operator BW Offshore has signed an agreement with Petrobras for an extension of the lease and operation of BW Cidade de São Vicente in Brazil. BW Offshore said on Tuesday that the extension was for 48 days and that the contract would expire on 11 June 2020. Continue reading
Petrobras starts binding phase of BSBios
April 27, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on January 23 , 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio), on its behalf and representing its partner RP Biocombustível Ltda, is initiating the binding phase of the competitive process regarding the joint sale of all shares... Continue Reading →
Petrobras 1Q20 Production and Sales Report
Petrobras 1Q20 Production and Sales Report - Petrobras 1Q20 production and sales report
Brazil Energy Insight 