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Brazilian state-run oil firm Petrobras plans to restart operations in the coming days at two ships used in offshore oil production that suffered coronavirus outbreaks, an executive told journalists during a call on Friday. Petrobras Exploration and Production Director Carlos Alberto de Oliveira said operations at the Cidade de Santos should restart over the weekend,... Continue Reading →
Brazil's oil industry has requested 29 oilfields be mothballed so far, including 16 offshore and 13 onshore, with a total production of 65,000 barrels per day, as the sector struggles with lower demand amid the coronavirus outbreak, local regulator ANP said. Twenty of the oilfields expected to be mothballed are in the process of being... Continue Reading →
Apr 20, 2020 Petrobras has adopted emergency and temporary measures that have as a priority to preserve jobs and the company's sustainability in what is the worst crisis in the oil industry in a hundred years. There have not been and will not be dismissals of Petrobras employees. The measures to temporarily reduce personnel expenses... Continue Reading →
Apr 17, 2020 Times of crisis in the industry are forcing Petrobras to reassess contracts with its suppliers. But the president of the state-owned company, Roberto Castello Branco, guaranteed on Friday (17) that he will not make renegotiations with small companies, to maintain the integrity of the national supply chain. In the executive's assessment, this... Continue Reading →
Apr 17, 2020 The director of exploration and production at Petrobras, Carlos Alberto Pereira de Oliveira, declared that the exploration of the pre-salt is viable even in the face of the current scenario of lower prices. The statement was made today (17), in an online press conference. "We have a very robust portfolio, particularly in... Continue Reading →
April 17, 2020 Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on 02/03/2020, announces that it has started the binding phase referring to the sale of its entire stake at the Papa-terra field, located in deepwater in the Campos Basin. Qualified parties for this phase will receive a process letter with... Continue Reading →
April 17, 2020 Petróleo Brasileiro S.A. – Petrobras announces that the rating agency S&P Global Ratings (S&P) affirmed the ”BB-“ global scale rating for Petrobras, with a stable outlook. The stand-alone credit profile remained at "bb", one notch above the sovereign. S&P highlighted that the company's liquidity position remains strong despite forecasted lower operating cash... Continue Reading →
Apr 16, 2020 The National Petroleum Agency (ANP) indicates that the number of cases of Covid-19 in workers in the oil and gas sector in Brazil has risen to 162. As of yesterday, there were 132. Currently, there are still another 1,020 cases being investigated, awaiting test results. Fortunately, so far, there have been no... Continue Reading →
Apr 17, 2020 Petrobras temporarily paralyzed part of the Gaslub Itaboraí project (formerly Comperj), which includes the construction of the Rota 3 gas pipeline and the natural gas processing unit (UPGN). The measure complies with the letter from the Municipal Health Secretariat of Itaboraí (RJ), issued on March 23, which requests the interruption of 70%... Continue Reading →
Apr 16, 2020 The storm that has come in the oil and gas sector will not change Petrobras' direction. Despite the strong devaluation of the price of a barrel of oil, the president of the state-owned company, Roberto Castello Branco, guaranteed that the company will not change its position to focus its efforts on exploration... Continue Reading →
