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 →
Petrobras – Clarifications on the discovery in Albacora, at the Campos Basin
10/03/2016 Rio de Janeiro, October 3, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby clarifies that the discovery of a pre-salt reservoir in the Albacora concession of the Campos Basin, as was reported by the newspaper O Globo on October 3, 2016, occurred in April 2011 with the drilling of the well 6-BRSA-899D-RJS (6-AB-119D). The... Continue Reading →
Brazil’s Petrobras sends documents to potential bidders of fuel unit
Mon Oct 3, 2016 | Reuters A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/Ueslei Marcelino/File Photo State-controlled oil company Petróleo Brasileiro SA (PETR4.SA) has sent documents to potential bidders presenting the sale of subsidiary Petrobras Distribuidora SA, formally launching a reworked plan to sell a... Continue Reading →
Petrobras, Statoil extend partnership for old wells
Petróleo Brasileiro SA and Norway's Statoil ASA are expanding an existing partnership to help the Brazilian state-controlled company arrest declining production at aging wells in the offshore Campos Basin, two people with direct knowledge of the plan said. In late August, Petrobras and Statoil signed a memorandum of understanding that has since evolved to targeting... Continue Reading →
Oil production in Brazil rises for 5th consecutive month and renews record with pre-salt push
ANP reported that oil production in Brazil rose for the fifth consecutive month in August, renewing a monthly record of extraction for the third time in a row, with push of Petrobras activity in the pre-salt. Oil production in Brazil in August totaled 2.609 million barrels per day (bpd), 1.1 percent rise compared to July... Continue Reading →
Petrobras CEO says wage hikes of last decade are impossible today
Fri Sep 30, 2016 | Reuters Brazil's state-led oil company Petrobras is unable to give its workers the kind of pay raises that increased company salaries by about 50 percent in real, inflation-adjusted terms over the past decade, Chief Executive Pedro Parente said on Friday. Petroleo Brasileiro SA, as Petrobras is formally known, is in... Continue Reading →
Brazil may let Petrobras sell transfer of rights area oil stakes
Fri Sep 30, 2016 | Reuters The logo of Brazil's state-run Petrobras oil company is seen on a tank in Sao Caetano do Sul, Brazil, September 28, 2016. REUTERS/Paulo Whitaker Brazil's government may let state-led oil company Petrobras sell stakes in offshore oil blocks, known as transfer of rights areas, to help finance their development,... Continue Reading →
Brazil M&A Rebounds as Petrobras Divestments Begin in Earnest
Dealmaking in Brazil is finally mounting a revival. Mergers and acquisitions in the country increased 35 percent to $16.6 billion in the third-quarter, compared with the same period last year, led by a spate of energy deals involving state-controlled Petroleo Brasileiro SA. Even more striking were the $11.1 billion in inbound transactions, according to data... Continue Reading →
Brazil slams Panama for not helping in Petrobras graft probe
Brazil's top prosecutor's office complained on Thursday that Panama had failed to deliver banking information requested over a year ago in the massive corruption investigation surrounding state-controlled oil company Petróleo Brasileiro SA. Brazilian prosecutors suspect financial institutions were used to move offshore millions of dollars in graft money from the scheme at the company known... Continue Reading →
