RIO - The assets that Brookfield acquired in Brazil, such as the Nova Transmissora do Sudeste (NTS), or in other investments in the country, such as new transmission lines, should have a "very large" appreciation in five to ten years, according to the company's head of operations in Latin America and executive director of Brookfield... Continue Reading →
Libra to have its first oil shipment in early January, says Petrobras
Petrobras predicts that the first shipment of oil produced in the Libra area in the Santos Basin pre-salt will take place in early January, said the company's chief operating officer, Fernando Borges. Libra, which started operations last week, is currently producing about 17,500 barrels of oil per day and is expected to reach an... Continue Reading →
Petrobras makes first big service tender after Lava – Jato
Petrobras will reform 75% of its platforms in the Campos Basin, an investment of R $ 3 billion in the first big service tender since 2014 when Lava - Jato started. The estimate is that the investment will create 3,000 jobs mainly in the Macae region according to Abespetro's projections, the association of companies providing... Continue Reading →
Blackstone Offers $6 Billion for Petrobras Pipeline
Blackstone Group has teamed up with its Brazilian partner to compete for Petroleo Brasileiro SA’s natural gas pipeline network in the country’s northeast, said people with knowledge of the matter. Blackstone and Patria Investimentos Ltda are one of at least three groups that have made non-binding offers up to $6 billion to acquire the asset, the people said, asking... Continue Reading →
Declaration of Commerciality of the Libra Northwest area, in the Pre-salt of Santos Basin
Rio de Janeiro, November 30, 2017 – Petróleo Brasileiro S.A. – Petrobras, as the Operator and acting on behalf of the Libra Consortium, announces that today it submitted the declaration of commerciality to the Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) regarding the oil accumulation located in the northwestern portion of Libra block,... Continue Reading →
SBM Offshore to pay $238M as U.S. subsidiary pleads guilty for bribery
SBM Offshore USA, a subsidiary of world’s largest FPSO provider SBM Offshore, has pleaded guilty for charges of bribing foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan and Iraq in violation of the Foreign Corrupt Practices Act (FCPA). The U.S. Department of Justice said on Thursday that the Dutch FPSO specialist SBM Offshore would pay... Continue Reading →
BREAKING: Giant Libra oil field in Brazil starts production
French oil company Total has announced first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil. The Libra project is operated by Brazil’s Petrobras. First oil is flowing into the Pioneiro de Libra FPSO, chartered by Petrobras from Teekay and Odeberecht consortium.... Continue Reading →
Who can and who cannot be a director at Petrobras
The board of directors of Petrobras is composed of the chairman and seven executive officers, elected by the Board of Directors. The directors must be Brazilian residents and have a unified management term that cannot be more than two years, with a maximum of three consecutive reelections permitted, and may be dismissed at any time.... Continue Reading →
Liquigás sale process: Extension of the analysis period by CADE
Rio de Janeiro, November 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, persuant to the press releases disclosed on 06/30/2017 and 08/28/2017, related to the analysis of the sale of Liquigás Distribuidora SA, a wholly owned subsidiary of Petrobras, to Companhia Ultragaz SA, informs that the Administrative Council for Economic Defense ("CADE") extended the period... Continue Reading →
Petrobras Sale of Azulão Field
Rio de Janeiro, November 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact of 05/15/2017 and Press Release of 06/19/2017, informs that it has signed, today, with the company ENEVA SA, through its subsidiary Parnaíba Gás Natural SA, the contract for the assignment of the totality of its participation in the... Continue Reading →
Brazil Energy Insight 