Rio de Janeiro, July 29, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that, in a meeting held on July 28th, the Board of Directors approved the sale of the company’s stake in exploration block BM-S-8 to Statoil Brasil Óleo e Gás Ltda. This transaction comes about as a result of a competitive bidding process... Continue Reading →
Sale of Petrobras Argentina Completed
Rio de Janeiro, July 27, 2016 – Petróleo Brasileiro S.A. (Petrobras) announces that today it finalized the sale of its entire 67.19% stake in Petrobras Argentina (PESA), held through Petrobras Participaciones S.L. (PPSL), to Pampa Energía. The operation was completed today with the payment of US$897 million by Pampa, after all the conditions precedent in... Continue Reading →
Brazil to sell oil rights near areas Petrobras seeks to sell -ANP
Jul 28, 2016 Reuters Brazil plans to sell rights to new oil exploration and production areas at an auction in 2017 adjacent to existing blocks where state-led Petroleo Brasileiro SA seeks to sell all or part of its stake, regulator ANP said on Thursday. Magda Chambriard, director-general of the ANP, said her agency plans to... Continue Reading →
Petrobras’ platform hull builder Ecovix may delay delivery
Ecovix, a unit of the Engevix group, said it may have to delay delivery of four hulls for oil and gas production platforms intended for Brazil's state-run oil company Petroleo Brasileiro SA due to troubles securing funds from state lender Banco do Brasil . The shipbuilder, which is entangled in the massive Operation Car Wash... Continue Reading →
Petrobras 2nd Quarter 2016 Results Release Date
Rio de Janeiro, July 27, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 2nd quarter 2016 results on August 11th, after the market is closed. Therefore, between July 28th and August 11th, the Company will be in quiet period, during which Petrobras will not be able to provide clarifications or... Continue Reading →
Brazil court revokes decision allowing Odebrecht in Petrobras tenders
Jul 26, 2016 A sign of the Odebrecht SA construction conglomerate is pictured in Lima, Peru, June 28, 2016. REUTERS/JANINE COSTA A Rio de Janeiro court revoked an earlier decision that allowed Odebrecht Oil and Gas to participate in tender contracts of the state-run oil company Petroleo Brasileiro SA, Petrobras said on Tuesday. Odebrecht and... Continue Reading →
CORRECTED-Petrobras expects bids for BR fuel unit by November -CEO
Wed Jul 27, 2016 Reuters (Corrects to say Petrobras will have 60 to 75 percent of total fuel unit stock after sale, not 60 to 65 percent) Brazil's state-controlled oil company Petróleo Brasileiro SA expects to receive binding offers for a controlling stake in its fuel distribution unit, BR Distribuidora, by late November or early... Continue Reading →
Brazil Said to Study Scrapping Nationalist Deep-Water Oil Rules
Michel Temer Photographer: Jin Lee/Bloomberg For international oil companies that saw access to Brazil’s gargantuan offshore reserves curtailed back in 2010, the tide is turning. Brazil’s interim government is studying the benefits of scrapping nationalistic oil legislation that was championed by now suspended President Dilma Rousseff and her leftist Workers’ Party, said three people involved... Continue Reading →
Petrobras to reduce role in Brazil’s natural gas industry
State-controlled oil company Petrobras said on Tuesday it plans to scale back its role in Brazil's natural gas industry by selling or sharing control of pipelines and opening its liquefied natural gas (LNG) terminals to third parties. The move by Petroleo Brasileiro SA, as the company is formally known, is part of a wider move... Continue Reading →
Agreement to Sell Petrobras Chile is Signed
Rio de Janeiro, July 22, 2016 – Petróleo Brasileiro S.A. (Petrobras), following up its material fact announcement of May 3, 2016, announces that it today signed a sale and purchase agreement with the Southern Cross Group for 100% of Petrobras Chile Distribuición Ltda (PCD), held through Petrobras Caribe Ltda. The estimated cash inflow from the... Continue Reading →
Brazil Energy Insight 