Petroleo Brasileiro SA advanced its downsizing of international operations with the sale of a shuttered refinery in Japan for $129 million. State-controlled Petrobras agreed to sell the 100,000-barrel-a-day Nansei Sekiyu refinery in Okinawa to Tokyo-based Taiyo Oil Co., it said in a statement Monday. The deal includes three piers and 9.5 million barrels in storage... Continue Reading →
Tereos wants to buy back Petrobras stake in Brazilian mills
French sugar group Tereos is interested in buying back a 45 percent minority stake in seven of its Brazilian-based sugar and ethanol plants from the state-run Petrobras, Jacyr Costa Filho, head of Tereos' local operations, said on Monday. "We know these assets well, we understand their potential, so if they indeed decide to leave the... Continue Reading →
Petrobras – Oil and natural gas production in September
Rio de Janeiro, October 17, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that its total oil and gas production in September was 2.88 million barrels of oil equivalent per day (boed), a 1.4% increase in comparison to the previous month. Of this total, 2.75 million boed were produced in Brazil and 0.13 million abroad.... Continue Reading →
Petrobras says September output in Brazil hits 2.75 mln bpd
Mon Oct 17, 2016 | Reuters Oct 17 State-run oil company Petrobras' production of oil and natural gas in Brazil reached 2.75 million barrels of oil equivalent per day in September, the company said in a securities filing on Monday. Petroleo Brasileiro SA, as the company is formally known, said it produced a further 0.13... Continue Reading →
Petrobras – Negotiations for the sale of Liquigás
Rio de Janeiro, October 14, 2016 – Petróleo Brasileiro S.A. – Petrobras informs, in relation to the sale of its wholly owned subsidiary Liquigás Distribuidora S.A. (Liquigás), announced through a press release on June 15th, that it is in advanced negotiations with Ultrapar Participações S.A. The transaction depends on the conclusion of the negotiations and... Continue Reading →
Update – Brazil’s Petrobras cuts fuel prices, pledges agile pricing
Brazil's state-run oil company Petrobras said on Friday it was cutting fuel prices as part of a new policy tracking international benchmarks more closely after politically driven pricing cost the company billions in recent years. Petroleo Brasileiro SA, as the company is formally known, will cut prices for diesel by 2.7 percent and gasoline by... Continue Reading →
Brazil’s Petrobras cuts fuel prices under new pricing policy
Fri Oct 14, 2016 |Reuters Brazil's state-run oil company Petrobras said on Friday that its board agreed to cut prices for diesel by 2.7 percent and gasoline by 3.2 percent under a new policy which will track international prices more closely, the company said in a filing on Friday. Petroleo Brasileiro SA, as the company... Continue Reading →
Petrobras and Galp expand partnership in order to strengthen exploratory, development and production activities
10/11/2016 Rio de Janeiro, October 11, 2016 – Petróleo Brasileiro S.A. - Petrobras signed, today, a Memorandum of Understanding (MoU) with Galp Energia, SGPS, S.A. (Galp), aiming to extend the cooperation between the two companies, reinforcing their strategic alliance. Following this MoU, Petrobras and Galp intend to further enhance their partnership, considering potential joint ventures... Continue Reading →
Petrobras Says Deep-Water Opening Luring Big Oil to Brazil
International oil companies are reaching out to Brazil after it opened its most promising offshore region to increased competition, a move welcomed by Petrobras Chief Executive Officer Pedro Parente as he seeks partners to spread investment costs. Producers rushed to contact Houston-based Brazilian officials last week after Congress removed a requirement that Petrobras control operations at... Continue Reading →
Petrobras sees oil output cap outside OPEC unlikely, source says
Oil producers outside the Organization of Petroleum Exporting Countries are unlikely to agree to any suggestion from the group to limit production, an unnamed official at Brazilian state-controlled oil company Petróleo Brasileiro SA said on Friday. Even if OPEC extended to countries outside the group a request to join its strategy to limit crude output... Continue Reading →
Brazil Energy Insight 