Rio de Janeiro, July 11, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"), in a public meeting held today, expressed an understanding favorable to the company in the CVM Sanctioning Administrative Process no. RJ2015/10276. The purpose of said process is to investigate a... Continue Reading →
Approval of public offering of shares of Petrobras Distribuidora (BR)
Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact of June 22, 2017, reports that its Board of Directors approved at a meeting held today, the initial public offer of its fully-owned subsidiary Petrobras Distribuidora S.A. (BR), which will be effected through a secondary public offering of... Continue Reading →
Petrobras Refineries/Sale
Petrobras will divulge their model for asset sales in the area of refining within 30 days. In some cases, the company will keep only a minority participation. Any similarity between the timing of the recently signed MOU with CNPC is not a mere coincidence. According to leaked information from the company, CNPC will not only... Continue Reading →
Brazil’s Petrobras, UTC at odds over services contract cancellation
Brazilian engineering firm UTC Engenharia SA and state-controlled oil giant Petroleo Brasileiro on Monday gave conflicting reasons for halting a platforms-servicing contract in the Campos Basin, in a spat that could hit operations. Petrobras, as the oil company is known, said in a press release that UTC chose unilaterally to discontinue construction services on the... Continue Reading →
Solstad Farstad’s anchor handler to do more work for Petrobras
Norway’s newly-formed OSV provider, Solstad Farstad, has been awarded a contract for one of its anchor handling tug supply vessels (AHTS) by Brazilian oil major Petrobras. According to the vessel owner’s Friday Oslo Stock Exchange filing, Petrobras awarded Solstad Farstad a one-year contract of for the AHTS BOS Turquesa. Solstad Farstad said that the contract... Continue Reading →
The Federal Court of Appeals in New York grants in part the appeal by Petrobras related to the class action
Rio de Janeiro, July 7, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that today the United States Court of Appeals for the Second Circuit (“Second Circuit”) vacated the District Court’s class certification order and remanded the matter for further proceedings. The Second Circuit granted the Company's appeal in part, reversing some aspects of the... Continue Reading →
Pre-salt auction may have ExxonMobil, Petronas, Saudi Aramco and Gazprom in dispute of the areas
06/07/2017 | According to foreign analysts, the increase in production and the high level of productivity of Brazil's pre-salt oil blocks are expected to help the government attract investments from major international operators in the upcoming October oil auctions. US ExxonMobil, Malaysia's Petronas, and Russia's Rosneft and Gazprom should come with everything. Exxon, the world's... Continue Reading →
Petrobras – Sale of Assets in Paraguay: Disclosure of the Teaser
Rio de Janeiro, July 7, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the disclosure phase of the Teaser for the sale of its assets in Paraguay. The company’s objective in this project is to sell its full equity stake in the following companies: Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras... Continue Reading →
Petrobras – Sale of Rights to Maromba Field in Campos Basin: Disclosure of the Teaser
Rio de Janeiro, July 6, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has initiated the disclosure phase of the Teaser for the full sale of its stake in the Maromba Field, in the Campos Basin. In this project, Petrobras, which is the operator with 70% stake, and Chevron Brasil Petróleo Ltda., which... Continue Reading →
Brazil’s Petrobras puts all its Paraguay operations for sale
Fri Jul 7, 2017 | 8:01am EDT The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker Brazilian state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) disclosed on Friday the initial terms for a plan to sell the entirety of its... Continue Reading →
Brazil Energy Insight 