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Rio de Janeiro, March 21, 2016 – Petróleo Brasileiro S.A. – Petrobras informs that the Libra Consortium has concluded the drilling and the evaluation of the well 3-BRSA-1322-RJS (3-RJS-741), located in the block northwest area, in the Santos Basin pre-salt, confirming the discovery of good quality oil (28º API) in reservoirs with excellent productivity. The... Continue Reading →
Petroleo Brasileiro SA reported a massive loss after writing down the value of assets because of the collapse in oil prices. The 46.4 billion reais ($12.8 billion) of writedowns in the value of its assets and investments, mainly from its exploration and production division, are worth more than a third of the company’s market value. They... Continue Reading →
Brazil's state-run oil producer Petroleo Brasileiro SA is investigating practices in its human resources department that could have left the company vulnerable to billions of reais in liabilities, newspaper Valor Economico said on Monday. Petrobras' head of governance, João Elek, is leading the internal probe after an anonymous report of 11 potentially controversial measures taken... Continue Reading →
A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. REUTERS/UESLEI MARCELINO Brazil's state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) is considering selling control of fuel distribution unit BR Distribuidora SA after bidders failed to emerge for a minority stake, two sources with direct knowledge of the plans... Continue Reading →
Petroleo Brasileiro SA is marketing offshore oil and natural gas fields worth as much as $2 billion as part of its plan to sell assets and pay down debt, said two people familiar with the matter. Three fields -- Bauna, Golfinho and Tartaruga -- are for sale, said one person, who asked not to be... Continue Reading →
The Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil, January 28, 2016. REUTERS/SERGIO MORAES Swiss authorities will return $70 million more from funds frozen during investigations into allegations of corruption at Brazilian state oil group Petrobras (PETR4.SA), Attorney General Michael Lauber's office said on Thursday. The money - on top... Continue Reading →
Mar 17, 2016 - Reuters Gasoline prices are displayed at a Brazilian Oil Company Petrobras gas station in Rio de Janeiro, Brazil, February 6, 2016. REUTERS/RICARDO MORAES Brazil's state-run oil producer Petroleo Brasileiro SA plans to cut 15 percent of its staff through a voluntary layoff program to be announced by mid-year, newspaper o Estado... Continue Reading →
The platform has completed a full year of production in Papa-Terra and is producing only 2,500 b/d [15.03.2016] / By Gabriela Medeiros/Brazil Energy P-61 platform and the P-63 FPSO, in the Para-Terra field, which, in total, is producing 16,000 b/d Petrobras is having a hard time increasing the production of the Papa-Terra field, which produces... Continue Reading →
The Chamber of Deputies has created a committee to discuss projects, such as providing for the end of Petrobras pre-salt sole operation. Members will elect a Chair tomorrow [15.03.2016] / By Camila Claro/Brazil Energy The Chamber of Deputies installed today, March 15, a Special Committee that will discuss projects relating to the pre-salt layer that... Continue Reading →
Grupo BTG Pactual allegedly underpaid for oil assets in Africa it bought from Petroleo Brasileiro SA in 2013, a Brazilian senator said in a plea-bargain deal published by the Supreme Court on Tuesday. The Sao Paulo-based bank paid $1.5 billion for a 50 percent stake in Petrobras’s Africa division. That was less than the $2.7 billion... Continue Reading →
