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Shareholders of oil-rig venture Sete Brasil Participacoes SA agreed to a plan to file for bankruptcy protection after its single client failed to present a viable book order. A Sete Brasil official confirmed Wednesday that investors are backing the plan and declined to elaborate. Shareholders had set that day as a deadline for Petroleo Brasileiro... Continue Reading →
Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy. The Rio de Janeiro-based producer spent 800 million reais ($223 million) last year to expand infrastructure and drill 30 wells in what was Brazil’s biggest drilling campaign on land, Chief Executive Officer... Continue Reading →
Apr 19, 2016 Reuters The cost of extracting oil from Brazil's so-called Subsalt Polygon in the Atlantic ocean fell about 7 percent last year, state-controlled oil producer Petróleo Brasileiro SA said on Tuesday. In a securities filing, Petrobras said unit extraction costs fell to $8.50 per barrel of oil last year from about $9.10 a... Continue Reading →
Brazil's corruption-battered state oil company Petrobras could be a big beneficiary if the country's opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday. Vice President Michel Temer, who would take power if Rousseff were impeached, is considered open to industry calls for changes to oil rules brought in by her Workers' Party... Continue Reading →
Apr 15, 2016 Reuters Skanska AB says: * In relation to investigations related to Petrobras, Federal Government in Brazil has brought a civil lawsuit against seven companies, including Skanska Brasil, and seven individuals unrelated to Skanska * According to the lawsuit a joint venture partner of Skanska Brasil has colluded with Petrobras directors and Skanska... Continue Reading →
Brazil Regulator Urges Refinery Building to Avert Fuel Shortages Sabrina Valle /Bloomberg April 13, 2016 Fuel imports could triple to 1 million barrels a day in 2030 Country needs more pipelines and storage, oil regulator says Brazil needs to add refineries or storage facilities for imported fuel to avert shortages in the coming years, the... Continue Reading →
Brazilian police arrested former senator Gim Argello and launched raids in three states on Tuesday as part of a massive corruption investigation centered at state-run oil firm Petrobras, federal prosecutors said. The 28th round of police raids in the so-called "Operation Car Wash" was based on evidence that Argello took bribes to ensure executives at... Continue Reading →
Rio de Janeiro, April 8, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its average oil and natural gas production amounted to 2.48 million barrels of oil equivalent per day (boed) in Brazil, remaining in line with January (2.47 million boed), and 178,000 boed abroad, totaling 2.65 million boed. Oil production averaged 2... Continue Reading →
Apr 8, 2016 Reuters Brazil's Petroleo Brasileiro SA said on Friday that output dropped 5.2 percent in February to 2.65 million barrels of oil and equivalent natural gas a day from a year earlier. Petrobras, as the state-run company is known, said the lowest February output in two years was largely due to stoppages for... Continue Reading →
Rio de Janeiro, April 8, 2016 – Petróleo Brasileiro S.A. – Petrobras, with respect to negotiations for the sale of its equity interest in Petrobras Argentina, disclosed by Material Fact in 03/02/2016, informs that the negotiations with Pampa Energia continue, having been extended the period of exclusivity for completion of negotiations for another 30 days.... Continue Reading →
