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February 21, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/10/2020, informs the beginning of the non-binding phase related to the sale of 100% of its shares in Nitrogen Fertilizer Unit III (UFN-III). Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the... Continue Reading →
Feb 21, 2020 Petrobras' oil workers decided to suspend the strike. The announcement was made by the Single Petroleum Federation (FUP), which represents 13 unions of the category in the country. It is scheduled for this Friday, an audience between representatives of the category and Petrobras with Minister Ives Gandra, of the Superior Labor Court... Continue Reading →
Feb 21, 2020 Petrobras plans to invest US $ 9 billion in exploration and production in 2020, said the company's production and technology development director, Rudimar Lorenzatto. According to him, of this total, half will be allocated to new projects, including Sépia, Mero, Búzios 5 and Atapu. Petrobras, as a whole, plans to invest US... Continue Reading →
Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday. On a conference call to discuss the firm's fourth-quarter results, the executives added that January production was little changed from December. On Wednesday evening, Petroleo Brasileiro SA, as the firm... Continue Reading →
February 20, 2020 Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held yesterday, approved dividends to shareholders, in the amount of R$ 1.7 billion to common shares (R$ 0.233649 per share) and R$ 2.5 million to preferred shares (R$0.000449 per share), based on the 2019 annual results. The adjusted... Continue Reading →
19/02/2020 Highlights of the 2019 result: • Adjusted EBITDA was US$ 32.7billion, an increase of 3.8% in relation to 2018, due to lower production costs and lower contingencies. • Net income reached US$ 10.2 billion, mainly reflecting gains with asset sales. • The adjusted net debt / LTM Adjusted EBITDA ratio increased to 2.41x, applying... Continue Reading →
Feb 20, 2020 MESSAGE FROM THE CEO THE FIRST YEAR OF THE IMPLEMENTATION OF A NEW STRATEGY I am pleased to share the results of a year of hard work, with the implementation of a new strategy for Petrobras, based on a transformational agenda supported by five pillars: maximization of the return on capital employed,... Continue Reading →
The market for floating production, storage and offloading units (FPSO) is heating up. Séverine Baudic, SBM Offshore’s Managing Director for Floating Production Solutions, weighs in on the strategic initiatives and technological innovations helping the company to secure contracts for some of the world’s most complex deepwater projects. When it comes to reducing lead times and... Continue Reading →
Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per... Continue Reading →
Feb 19, 2020 Total started last Tuesday (18) the environmental licensing in Ibama of five wells, two exploratory and three for evaluation, in the area of exploratory block C-M-541, in the Campos Basin pre-salt. The company signed the concession contract for the area, where it has a partnership with Petronas and QPI, last Friday with... Continue Reading →
Brazil Energy Insight 