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August 1, 2019 Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,608,840,252.20, corresponding to R$ 0.20 per outstanding common and preferred share. The payment will be made on... Continue Reading →
Petrobras had a good financial performance in 2Q19, although we benefited from external factors beyond our control, such as oil prices, the BRL/USD exchange rate and crack spreads, and non-recurring events, such as assets divestments. Accounting net income excluding non-recurring factors was R$ 5.2 billion and operating cash flow reached R$ 20.5 billion. Advances in... Continue Reading →
July 31, 2019 Petrobras and Equinor plan to reach the pre-salt of the Espírito Santo Basin with the drilling of the Monai prospect in block ES-M-669. According to the companies, the campaign will be fundamental for them to evaluate the exploration of other concessions acquired in the 11th round of the ANP, which, so far,... Continue Reading →
July 31, 2019 Brazil is on track to be one of the world's leading oil producers over the next 10 years, Felipe Kury, director of the National Petroleum, Natural Gas and Biofuels Agency. The challenge "is to have this plurality of actors and various environments," said Kury. For him, this is "an incredible moment" for... Continue Reading →
July 30, 2019 – Petróleo Brasileiro S.A. - Petrobras (“Petrobras”) (NYSE: PBR) announced today the final results of its previously announced debt tender offers (the “Waterfall Offers”). As of 11:59 p.m., New York City time, on July 29, 2019 (the “Expiration Date”) holders of US$1,853,874,000 principal amount of the outstanding notes of the series set... Continue Reading →
July 29, 2019 Brazil’s Petrobras has signed a two-year contract to lease a drilling rig from Ocyan, formerly known as Odebrecht Oleo e Gas, an executive told Reuters, in the first deal between the firms since a corruption scandal erupted five years ago. Petroleo Brasileiro SA, as the state-run oil firm is known, formally selected... Continue Reading →
July 26, 2019 Petrobras has launched a bid to contract engineering design, goods supply, installation and subsea interconnection services for the first wave rigid pipelines of the Buzios 5 field, in the Santos Basin pre-salt. The project implementation comprises the connection to the future FPSO of five producing wells, five injectors and an export pipeline... Continue Reading →
July 26, 2019 FPSO P-68 is expected to leave Jurong Shipyard in Aracruz (ES) only in late September or early October. The initial forecast was that the five-day trip to the Berbigão field would start on the 24th, but delays in the construction forced the revision of the schedule. Among the reasons for the postponement... Continue Reading →
Brazil’s state-run oil firm Petroleo Brasileiro SA cut its 2019 production target, sending its shares lower on concerns about how quickly the firm will be able to ramp up production. Petrobras, as the firm is known, now expects output to average 2.7 million barrels of oil equivalent per day (boepd), in line with 2018, scrapping... Continue Reading →
July 25, 2019 Bidding conducted under the reverse auction system is postponed and remains undefined. Almost six months after the original receipt of the proposals, Petrobras' bid for the chartering of up to three anchored rigs remains open. Lot 1 - geared to two units for 750 m of water depth - had its commercial... Continue Reading →
Brazil Energy Insight 