Petróleo Brasileiro SA should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study. The study by a Mines and Energy Ministry research arm, seen by Reuters on Tuesday, recommended that Brazil's... Continue Reading →
Petrobras to install four new platforms in the Campos Basin
Cristina Indio do Brasil - Agência Brasil reporter Petrobras intends to install four new platforms in the Campos Basin in the coming years. The first will be the FPSO Cidade de Campos de Goytacazes, destined to the production of oil in the fields of Tartaruga Verde and Tartaruga Mestiço. Two other units will operate in the... Continue Reading →
Seabed Geosolutions scores $90M contract in Brazil
zoom Seabed Geosolutions has reportedly been awarded an ocean bottom seismic survey contract in Brazil. The company, a joint venture between CGG and Fugro, has secured a contract with Petrobras for work in the Santos Basin, offshore Brazil. The contract, worth $90 million, is expected to start in late 2017, or in early 2018. Stephan... Continue Reading →
Brazil’s Petrobras halts production after leak in Campos basin
Mon Jun 26, 2017 | 5:54pm EDT The logo of Petrobras, state-controlled Petroleo Brasileiro SA, is seen at their President Bernardes Refinery in Cubatao, Brazil June 8, 2017. REUTERS/Paulo Whitaker Brazil's Petróleo Brasileiro SA halted production at a platform in its Marlin field in the Campos Basin after a "small amount" of water and oil... Continue Reading →
Petrobras negotiates additive on contract for pre-salt equipment in search of safety
Petrobras is negotiating an addendum to the contract with the supplier of equipment TechnipFMC aimed at providing more safety for connections used in the pre-salt production, after two failures in gas-injected pipelines that alerted to possible risks in the country's important oil producing area, revealed The oil company told Reuters. The oil company is now... Continue Reading →
Petrobras authorizes resuming negotiations with Sete Brasil
Rio de Janeiro, June 23, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board has authorized the Company to resume negotiations with Sete Brasil Participações S.A. (currently under judicial reorganization at the 3rd Business District Court of Rio de Janeiro), at the request of Sete Brasil. Any result of these negotiations will... Continue Reading →
OPEC Gets Another Supply Headache From Surging Brazilian Exports
Brazil’s most crippling recession on record is complicating life for OPEC. The nation’s growing oil production combined with slumping domestic demand has unleashed record exports, undermining OPEC’s efforts to reverse falling prices through output cuts. Read more
Petrobras hires contractors for works at Abreu e Lima refinery
23/06/201713:25 NICOLA PAMPLONA RIO DE JANEIRO, RJ (FOLHAPRESS) - Petrobras announced the contracting of the Conenge SC / Possebon consortium to complete works at Abreu e Lima Refinery facilities in Pernambuco. The refinery has been in operation since 2014 but the lack of equipment for the treatment of sulfur and other pollutants prevents it from... Continue Reading →
Petrobras revives plan for IPO of fuel distribution unit
Petróleo Brasileiro SA (PETR4.SA) is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday. Pedro Parente said at an event in São Paulo that a proposal would be delivered for board approval... Continue Reading →
Petrobras announces the Settlement of the Early Redemption of Series of Notes maturing in 2018
Rio de Janeiro, Brazil – June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in June 20, 2017, has concluded the redemption of its 2.750% Global Notes due 2018, 5.875% Global Notes due 2018 and 4.875% Global... Continue Reading →
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