Despite making progress, Petrobras remains highly leveraged and likely to rely on external financing to refinance maturities, according to a report by rating agency Fitch Ratings. "While Petrobras has reported very positive progress in its divestment plan, achieving its 2018 deleveraging targets can be challenging. Petrobras' business plan aims to significantly reduce net debt to... Continue Reading →
Brazilian Authority Approves Sale of Block C-M-535 from Peterobras
The Brazil Antitrust Authority approved, without restrictions, the purchase by BP Energy of 65% participation of Block C-M-535, located in the Campos Basin, from Petrobras. BP already held a 35% participation of the block. BP participates in 17 oil concessions in Brazil, onshore and offshore. Sale still needs to be approved by the ANP, the... Continue Reading →
Clarification on News: Agreement between Braskem and Public Authorities
Rio de Janeiro, February 3, 2017 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter No. 114/2017-SAE/GAE 2, which requests the clarifications below: Official Letter No. 114/2017-SAE/GAE 2 "Dear Sirs, In an article published by the newspaper Valor Econômico on 02/03/2017, there is among other information, the following: 1. Petrobras, partner with the... Continue Reading →
Closing of Petrobras Biocombustível interests sale in Guarani
Rio de Janeiro, February 3, 2017 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact disclosed on December 28, 2016, informs that the sale transaction of the full interests held by its wholly-owned subsidiary Petrobras Biocombustível S.A. (“PBIO”) in Guarani S.A. (“Guarani”) was concluded today. The transaction was concluded upon the payment of... Continue Reading →
Petrobras undecided over outright sale of refining assets -source
Petroleo Brasileiro SA remains undecided about the sale of some refineries, a sign Brazil's state-controlled oil company might be leaning toward forming partnerships by offering stakes in some of them, a person with direct knowledge of the matter said on Thursday. The person said Boston Consulting Group Inc had been analyzing potential scenarios for the... Continue Reading →
Brazil’s Petrobras sees partnerships cutting project risks
Feb 1 Petróleo Brasileiro SA's (Petrobras's) $13.6 billion in global partnerships will help the state-controlled Brazilian oil company stem risks in new projects, Chief Executive Officer Pedro Parente said on Wednesday. Geopolitical risks in the Middle East and uncertainty over the U.S. presidency of Donald Trump will pose challenges, Parente told a seminar sponsored by... Continue Reading →
PETROBRÁS FORESEES 15 NEW PLATFORMS IN THE PRE-SALT REGION OF THE SANTOS BASIN BY 2021
January, 2017 Petrobrás has divested itself of valuable areas in the pre-salt, such as stakes in the fields sold to Statoil (Carcará) and Total (Iara and Lapa), but still maintains great plans for the pre salt region, with 15 new platforms for the Santos Basin. The estimate is part of Petrobras' 2017-2021 Business and... Continue Reading →
Sale of Petroquímica Suape and Citepe
January 31, 2017 - Petróleo Brasileiro SA - Petrobras, in continuation of the relevant fact disclosed on 12/28/2016, informs that it was served on the decision of the 2nd Federal Court of Sergipe, which granted an injunction, in a public sale of "PetroquímicaSuape" and Companhia Integrada Têxtil de Pernambuco ("Citepe"). Petrobras is taking appropriate legal... Continue Reading →
DEEP SEA SUPPLY RENEWS SUPPORT VESSEL CONTRACT FOR ONE YEAR IN BRAZIL
Jan, 2017 The AHTS Sea Tiger multipurpose vessel will have another year of contract with Petrobras. The state company has extended the deadline for the current contract with Norway's Deep Sea Supply to support its offshore platforms, starting at the end of January. The unit, built in 1998, has operated in Brazil since 2013,... Continue Reading →
Brazil’s Petrobras reduces diesel and gasoline prices at refineries
Jan 26 Brazil's state-run oil company Petroleo Brasileiro SA announced on Thursday it is reducing diesel and gasoline prices at refineries, reflecting the fall in international petroleum products prices and the appreciation of the local currency against the dollar. In a statement, Petrobras, as the company is known, said diesel prices will be reduced 5.1... Continue Reading →
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