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 →
Petrobras – Sale of Baúna and Tartaruga Verde fields
Rio de Janeiro, October 06, 2016- Petróleo Brasileiro SA - Petrobras announces that it is negotiating with Karoon Gas Australia Ltd the sale of its participation in the Baúna and Tartaruga Verde fields. The potential transaction considers the sale of 100% of the stake in the Baúna field, located in shallow waters of post-salt Santos... Continue Reading →
Brazil’s Petrobras says in talks with Karoon for stake in two fields
| Thu Oct 6, 2016 | Reuters Brazilian state-controlled oil company Petroleo Brasileiro SA said on Thursday it was in talks with Karoon Gas Australia Ltd to sell stakes in the Bauna and Tartaruga Verde fields. Petrobras said the talks concerned a 100 percent stake in the 45,000 barrel-a-day Bauna field, situated in the Santos... Continue Reading →
Brazil Opens Oil Fields to Foreign Firms in Key Policy Shift
Brazil’s Congress voted on Wednesday night to open up its pre-salt oil fields to foreign investors by scrapping Petroleo Brasileiro SA’s obligation to be the area’s sole operator. The legislation was approved by a 292-to-101 vote, following a bad-tempered debate during which opponents, many dressed in the orange jumpsuits of the state-controlled oil company, repeatedly... Continue Reading →
Brazil leniency deals on hold for corruption probe: minister
Negotiations on leniency deals between the Brazilian government and 12 companies blacklisted in the Petrobras corruption scandal have been put on hold until prosecutors conclude plea bargains with executives, Brazil's anti-corruption minister told Reuters. Transparency Minister Torquato Jardim said he was keen to get the construction firms back to work on government contracts once they... Continue Reading →
Brazil’s Petrobras relaunches order for presalt oil exploration vessel
Oct 4 - Reuters. Brazilian state-controlled oil company Petroleo Brasileiro SA confirmed it will relaunch the process to order a Floating Production Storage Offloading vessel to explore the presalt area, the company said in a securities filing Tuesday. Petrobras said it cancelled a previous FPSO order because it resulted in prices above those practiced on... Continue Reading →
Petrobras Fuel Unit Sale Said to Lure Brazil Banking Clans
The Brazilian bankers who joined forces last decade to form Latin America’s largest lender are seeking to buy control of the country’s giant fuel distribution business from Petroleo Brasileiro SA, people with direct knowledge of the matter said. The Setubal and Vilella families’ Itausa - Investimentos Itau SA and the Moreira Salles family’s Cambuhy Investimentos... Continue Reading →
Brazil Energy Insight 