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August 14, 2019 Petróleo Brasileiro S.A. – Petrobras reports that today it fully prepaid a financing contract with China Development Bank (CBD) due in 2024, totaling US$ 3 billion. The company also notified CBD on the advanced payment of another loan, in the amount of US$ 5 billion and whose maturity would be in 2027,... Continue Reading →
August 14, 2019 Petróleo Brasileiro S.A. – Petrobras informs that it continuously improves its governance system, in compliance with the best market practices, with the objective of strengthening internal controls and the efficiency of the decision making process, which is fundamental in a competitive business environment. The company conducted a diagnosis, approved by the Executive... Continue Reading →
Aug 14, 2019 A study by Brazil Petroleum Studies (BPS) and Spectrum / TGS identified reservoirs with up to 450 million boe in the Pernambuco-Paraíba Basin. The volume is similar to discoveries such as Barra, in Sergipe-Alagoas (500 million boe), and Pitu, in Rio Grande do Norte (640 million boe). The analysis, which consisted of... Continue Reading →
August 14, 2019 Petrobras President Roberto Castello Branco told a hearing yesterday at the Senate Infrastructure Commission that the company will invest approximately $ 100 billion over the next 5 years. Asset divestitures, on the other hand, are expected to reach up to $ 35 billion in the period. "These are choices. You take money... Continue Reading →
The global market for floating production, storage and offloading vessels (FPSOs) is headed for a major renaissance with as many as 24 FPSO awards expected by 2020, driven to a great degree by Brazil, according to Norwegian energy research and consultancy firm Rystad Energy. South America leads the pack with 12 sanctioned FPSO projects planned... Continue Reading →
August 14, 2019 Petróleo Brasileiro S.A. – Petrobras clarifies, in relation to news disclosed by the media, that the values related to the sale of the Nitrogen Fertilizer Unit III (UFN-III) are not correct. Pursuant to the release to the market dated June 14, 2019, Petrobras reiterates that the competitive process for the sale of... Continue Reading →
Offshore drilling contractor Vantage Drilling returned to quarterly profit on the back of drilling contract termination revenue received from Petrobras. Vantage Drilling on Wednesday reported net income attributable to controlling interest of approximately $590.7 million for the second quarter of 2019 compared to a net loss attributable to controlling interest of $31.1 million for the... Continue Reading →
August 12, 2019 Petróleo Brasileiro S.A. – Petrobras reports that today it has prepaid the Term of Financial Commitment (TFC) FAT/FC (“Term”), in the amount of R$ 2.7 billion, whose maturity would be in 2028. The Term resulted from the Reciprocal Obligations Agreement (AOR) signed with Petros and various trade unions in 2006 aiming at... Continue Reading →
August 12, 2019 Petrobras has begun environmental licensing to carry out a proprietary 4D seismic data acquisition mega-campaign with Nodes and to implement a permanent monitoring system in Santos Basin pre-salt areas. The campaign will involve 11 pre-salt areas with a minimum coast distance of 146km and a depth of operation between 1,300 and 2,500m:... Continue Reading →
Aug 12, 2019 Líder Aviação and Petrobras signed the helicopter charter contracts for logistic support in the Campos, Santos and Espírito Santo basins. The aircraft will be used for air transport to offshore platforms, with scheduled start-up between this and next year. The company will supply eight large and medium-sized aircraft, five of them S92A... Continue Reading →
Brazil Energy Insight 