Brazil's government and state-run oil company Petroleo Brasileiro are locked in a dispute over the value of offshore oil blocks involving an estimated $30 billion, newspaper Valor Econômico reported on Friday. The dispute, which has previously been reported, centers on a 2010 contract in which Petrobras paid the government for the transfer of exploratory rights... Continue Reading →
Exclusive: Few foreign bids expected for Petrobras $1 billion natgas project
(Reuters) - Taking aim at local corruption, Brazil is trying to get competition among global players to build a $1 billion natural gas plant, but the number of foreign bids will be smaller than anticipated due to more stringent requirements, sources said. Brazil's state oil company Petroleo Brasileiro SA excluded large local engineering firms implicated... Continue Reading →
Petrobras – Public Offering of Debentures with Limited Distribution Efforts: Bookbuilding Procedure Concluded
Rio de Janeiro, August 16, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the material fact July 26, 2017, reports that the bookbuilding procedure (“Bookbuilding”) for the 5th (fifth) issue of simple, non-convertible, unsecured debentures ("Issuance" and "Debentures") has been concluded, resulting in the distribution of Debentures amounting to R$ 4,988,819,000.00 (four billion, nine... Continue Reading →
Brazil prosecutors to investigate Petrobras Argentina sale
Prosecutors investigating Brazil's biggest-ever corruption scandal will probe last year's sale of the Argentine subsidiary of Petrobras, Brazil's state oil company, a lawyer representing its minority shareholders on Wednesday. Petrobras, formally known as Petroleo Brasileiro SA (PETR4.SA), sold its 67.2 percent stake in Petrobras Argentina SA for $892 million to Pampa Energia SA (PAM.BA), Argentina's... Continue Reading →
Petrobras – Oil and natural gas production in July
Rio de Janeiro, August 15, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its total oil and natural gas production in July was 2.74 million barrels of oil equivalent per day (boed), 2.63 million boed of which produced in Brazil and 114 thousand boed produced abroad. The average oil production in the country was... Continue Reading →
JUSTICE GRANTS THE POSSESSION OF DRILLSHIP VICTORY 10,000 TO PETROBRÁS
August 14, 2017 Petrobras won the lawsuit against the injunction of Schahin Engenharia and Deep Black Drilling, both in judicial recovery. The 5th Federal Court of Brasilia revoked a precautionary measure and dismissed the request for injunction against an act of Petrobras' directors that determined the termination of a lease agreement with the resumption... Continue Reading →
Petrobras – Sale of Assets in Paraguay: Start of the non-binding phase
Rio de Janeiro, August 14, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on 7/7/2017, informs the start of the non-binding phase regarding the sale process of its assets in Paraguay. At this stage of the project, the descriptive memorandum is sent to interested parties qualified in the previous phase,... Continue Reading →
PETROBRAS HAS CHOSEN THE COMPANIES THAT WILL DO THE MAINTENANCE OF THEIR PLATFORMS IN THE PLACE OF UTC
August, 2017 Petrobras acted fast and has already chosen the companies that will replace UTC in the maintenance work of platforms in the Campos Basin. The winners were G & E, Actmium, VINCI Energies Group and CSE, which had 70% of the company bought by Aker Solutions. What was only UTC was divided into... Continue Reading →
PETROBRAS SECOND QUARTER OF 2017 RESULTS
Rio de Janeiro - August 10, 2017 - SECOND QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information reviewed by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 4,765 billion Production 2.791 Mbbl/d Adjusted EBITDA R$ 44,348 million Main financial highlights Net Income of R$ 4,765 million... Continue Reading →
Petrobras misses estimates on higher taxes; EBITDA slumps/2Q 2017
Petróleo Brasileiro SA missed second-quarter profit estimates by a large margin after joining a tax refinancing program, putting the brakes on efforts by Brazil's state-controlled oil producer to cut the largest debt burden among major global oil firms. Net income came in at 316 million reais ($99.54 million) last quarter, down from 4.449 billion reais... Continue Reading →
Brazil Energy Insight 