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 →
Petrobras – Accumulation Discovery in the Pre-Salt Layer of Campos Basin
Rio de Janeiro, August 10, 2017 - Petróleo Brasileiro S.A. – Petrobras reports the discovery of oil accumulation in the Campos Basin’s pre-salt layer, in the area of Marlim Sul field. This is the first commercial discovery of oil in the pre-salt layer of the Marlim Sul area. The discovery occurred during drilling of well... Continue Reading →
Brazil authorizes Petrobras to export idle LNG cargoes
Brazil's Petroleo Brasileiro SA has been authorized to export idle liquefied natural gas (LNG) in the spot market, according to the Wednesday issue of the official gazette. According to the text, Petrobras has been given the green light to export up to 6.6 million cubic meters, assuming this would not result in supply problems for... Continue Reading →
Petrobras CEO: Pre-salt oil extraction costs $8 per barrel
Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event in Sao Paulo on Tuesday. Discovered only 10 years ago, the pre-salt area has rapidly become the top priority for Petrobras and other oil majors holding exploration rights to some... Continue Reading →
Petrobras obtains Certification in the Corporate Governance Program for State-Owned Companies
Rio de Janeiro, August 8, 2017 – Petróleo Brasileiro S.A. – Pursuant to the material fact disclosed on June 5th, 2017, Petrobras informs that it has received the certification in the Corporate Governance Program for State-Owned Companies, granted by B3 (former BM&FBovespa). Petrobras has complied with all the compulsory measures of the Program and obtained... Continue Reading →
Petrobras cuts gasoline prices below import parity to regain market
Brazilian state-controlled oil firm Petróleo Brasileiro SA has reduced prices for the gasoline it sells in Brazil to below parity with the fuel imported from the United States, reducing profit margins to regain market share. Petrobras, as the company is commonly known, has sharply reduced the price gap between the value of gasoline sold at... Continue Reading →
Petrobras – Advance payment of bank debt and new financing with The Bank of Tokyo-Mitsubishi UFJ and Banco Safra
Rio de Janeiro, August 3, 2017 – Petróleo Brasileiro S/A. – Petrobras reports that it has effected today a transaction with The Bank of Tokyo-Mitsubishi UFJ, Ltd., member of MUFG, for prepayment of debt in the amount of US$ 333 million, with expected maturity in 2018, while simultaneous hiring new financing in the amount of... Continue Reading →
Scheduled shutdown of the P-58 platform in the Campos Basin is completed by Elfe
08/03/2017 Parque das Baleias in the Campos Basin. Petrobras held a scheduled 20-day shutdown on the P-58 platform, the largest unit of the oil company in production volume. According to technicians from Elfe, the company responsible for the shutdown, the services of improvements in the design of the platform were carried out successfully. The P-58 is installed in... Continue Reading →
Changes to the Executive Office of Petrobras Distribuidora (BR)
Rio de Janeiro, July 31, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR) approved today the reelection of Mr. Ivan de Sá Pereira Júnior to the position of CEO of BR for a two-year term. The Board of Directors also approved the... Continue Reading →
