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Aug 28, 2019 In addition to global oil giants such as Exxon, Shell, Total and Saudi Aramco, banks, investment funds and trading companies, also move the pieces in the game for the purchase of eight refineries that Petrobras has placed for sale. According to sources, nearly two dozen companies signed the confidentiality agreement with the... Continue Reading →
Japanese FPSO operator MODEC is working to clean up and disperse the remaining oil following an oil spill on the Petrobras-operated Espadarte field offshore Brazil last Friday. Operated by Modec and serving Petrobras since 2007, the FPSO Cidade do Rio de Janeiro ended its production cycle in July 2018 and has been in the process... Continue Reading →
August 28, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that it has been notified of final decision, without possibility of appeal, from the Administrative Board of Tax Appeals (CARF) that canceled a debt of R$ 5.9 billion in favor of the company regarding the approval of PIS and Cofins credits. The decision will result... Continue Reading →
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 →
