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August 28, 2019 Petróleo Brasileiro S.A. - In compliance with CVM Instruction 358/02, Petrobras reports that its Board of Directors held a meeting today and approved the incorporation of Petrobras Logística de Gás S.A. (“LOGIGÁS”). The incorporation aims at simplifying and optimizing the corporate structure of the Petrobras Group. This is an incorporation of a... Continue Reading →
August 28, 2019 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors, in a meeting held today, approved the new Shareholder Compensation Policy. The new policy aims to establish an objective parameter for the payment of earnings, providing investors with more transparency on their compensation, considering the company's indebtedness and cash flow. The... Continue Reading →
The world’s top commodity traders along with several oil majors are among the bidders for eight refineries that the Brazilian government wants to privatize, Reuters reports, citing unnamed sources. Glencore, Trafigura, and Vitol are all among the bidders, and so are Chinese CNPC and Sinopec, as well as Saudi Aramco, which has been working on... Continue Reading →
Brazil’s influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatizing state-owned oil company Petrobras (PETR4.SA), but stiff political opposition could stifle any effort to sell the country’s corporate crown jewel. Petrobras, or Petroleo Brasileiro SA, was founded in 1953 by former president Getulio Vargas following a nationalist campaign that... Continue Reading →
August 28, 2019 Petróleo Brasileiro SA – Petrobras following up on the release disclosed yesterday, reports that progress has been made in the collection of oily waste (oil and water) leaked from the industrial waste treatment plant of the Abreu e Lima Refinery (Rnest), in Pernambuco. The estimated leakage of 5 cubic meters was detected... Continue Reading →
, August 28, 2019 Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 08/26, reports that Modec has informed the company that the FPSO Cidade do Rio de Janeiro, located in the Campos Basin, 130 kilometers from the coast, remains stable and under normal draft and slope conditions. Overflight conducted yesterday observed... Continue Reading →
August 28, 2019 Cade approved, without restrictions, the sale by Petrobras of control of 11 shallow water offshore fields from the Campos Basin to Trident Energy. The completion of the U$1 billion operation was announced by the state company in mid-July. Petrobras has bid the fields three times. In July 2018, the state-owned company announced... Continue Reading →
August 27, 2019 Petróleo Brasileiro SA – Petrobras informs that yesterday detected a leakage of estimated 5 cubic meters of oily waste (oil and water) in the industrial waste treatment plant of the Abreu e Lima Refinery (Rnest). A small amount of oil reached a stream that passes through the refinery internal grounds. The leak... Continue Reading →
August 26, 2019 Petróleo Brasileiro SA - Petrobras, following the press release disclosed today, informs that the company Modec has reported that a new overflight has found oil on the sea, with an estimated volume of 6.6 cubic meters, in addition to the 1.2 cubic meter leakage identified and now collected. Seven collection and dispersion... Continue Reading →
August 26, 2019 Petróleo Brasileiro S.A. - Petrobras reports that Modec, operator of the FPSO Cidade do Rio de Janeiro, in the Campos Basin, announced on Friday, August 23, the existence of cracks in the ship's hull, after inspection of the vessel’s external tanks, resulting in a leakage of approximately 1.2 cubic meter of residual... Continue Reading →
Brazil Energy Insight 