Brought to you by Quest Offshore & Southern Cone Consultants
Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote... Continue Reading →
August 5, 2019 Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/05/2019, informs the beginning of the binding phase related to the sale of all its stakes in the Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the Espírito Santo Basin. Qualified parties for... Continue Reading →
Aug 5, 2019 Petrobras will soon contract a new 3D seismic campaign with nodes for the Santos Basin pre-salt cluster. After Libra and Buzios, the oil company will seek services to cover almost the entire field of Lula. It is estimated that the tender will be released within 30 days. The details are still being... Continue Reading →
Brazil's state-controlled oil company Petrobras will scrap plans to invest in renewable energy projects, but says it will continue research and development projects in the field, according to chief executive Roberto Castello Branco. “About renewables, we are investing in research and we will just not invest in operational assets because it is something that requires... Continue Reading →
August 2, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that today Centrais Elétricas Brasileiras S.A. - Eletrobras settled in advance R$ 1.275 billion of the outstanding balance of the Debt Assumption Agreement signed on December 3, 2018. With this payment, the remaining outstanding balance of all Debt Assumption Agreements that Petrobras holds against Eletrobras... Continue Reading →
Aug 2, 2019 Petrobras President Roberto Castello Branco said that the company is reviewing its strategic plan and expects to announce to the market the new strategy in November. He pointed out that the plan will focus on cost reduction. "We want to bridge the gap that separates us from our peers," he said in... Continue Reading →
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 →
