The bill removes the requirement for Petrobras to operate in all subsalt consortia with a 30% minimum. The bill changes the rules of oil exploration in the subsalt layer and should begin to be voted in the House next week. It promises to be the symbol of new government's shift in this sector. With the... Continue Reading →
Petrobras to gain $11 billion on sale of Brazil oil rights to Statoil: CEO
New chief executive of Brazil's state-run oil company Petroleo Brasileiro SA, Pedro Parente, gestures during his inauguration ceremony in Rio de Janeiro, Brazil, June 2, 2016. REUTERS/Sergio Moraes By Stine Jacobsen | STAVANGER, NORWAY The sale of a stake in Carcara, the giant Brazilian offshore oil prospect, to Norway's Statoil ASA (STL.OL) will gain Brazil's... Continue Reading →
Petrobras to study use of smaller platforms in the pre-salt to cut costs
Seeking to reduce costs, while maintaining the high productivity of the pre-salt wells, Petrobras is studying the use of smaller platforms for oil production in the area. According to the director of Exploration and Production of Petrobras, Solange Guedes, some pre-salt wells are achieving daily production of up to 50,000 barrels, an amount which allows... Continue Reading →
Statoil and Petrobras strengthen strategic partnership in Brazil
Statoil and Petrobras took a step forward in strengthening their cooperation in Brazil by signing a Memorandum of Understanding (MoU). The MoU was signed by Statoil CEO, Eldar Sætre (left), and Petrobras CEO, Pedro Parente. (Photo: Ole Jørgen Bratland) The intention of the MoU is to evaluate joint participation in future tenders for exploration areas... Continue Reading →
Petrobras voluntary layoff program accepted by 6,100 employees
Reuters Aug 25 A voluntary layoff program at state-run oil company Petroleo Brasileiro SA has been accepted by 6,100 employees, a source with direct knowledge of the matter told Reuters. The number may rise by month-end, the deadline for the plan proposed by the oil giant known as Petrobras. Around 12,000 employees, or 21 percent... Continue Reading →
Brazil seizes $655 mln in assets from Odebrecht, OAS, executives
Brazil's federal auditing court TCU ordered on Wednesday the seizure of about 2.1 billion reais ($655 million) worth of assets from engineering firms Odebrecht SA and OAS SA and some of their executives, to recoup losses from contracts related to the country's biggest ever corruption scandal. Brasilia-based TCU said in a ruling that the decision... Continue Reading →
RNEST processing record in July
Rio de Janeiro, August 17, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that the Abreu e Lima Refinery (RNEST) beat its processed feedstock record in July 2016, reaching 99.18 thousand barrels per day (bpd), 2.3% more than the previous record achieved in June (96.96 thousand bpd). In total, 3.07 million barrels were processed,... Continue Reading →
Unions at Petrobras fuel unit BR Distribuidora start 5-day strike
Aug 15 Workers at BR Distribuidora, the fuel unit of Brazil's state-owned oil company began a planned five-day strike on Monday to protest the planned sale of control of the distributor, the president of a union representing striking workers said. Employees of BR, formally known as Petrobras Distribuidora SA, are attempting to block fuel distribution... Continue Reading →
Technip and DOF announce the delivery of Skandi Açu and commencement of contract with Petrobras
August 16, 2016 01:00 AM Eastern Daylight Time Regulatory News: “This new state-of-the-art PLSV, with the most advanced pipelay equipment and highest flexible pipelay tension capacity in the world, demonstrates again our extensive ultra-deepwater pipelaying experience, and our commitment to enable projects offshore for our clients.” Tweet this Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and DOF... Continue Reading →
Petrobras Result Announcement 2Q 2016
Petrobras announcement presentation 2Q 2016 Webimar and Excel Presentaion Petrobras presentation 2Q2016 PBR RMF 2Q-2016-Excel presentaion
Brazil Energy Insight 