The Brazilian government will offer in an auction in October production sharing contracts for companies to explore areas that it says hold “significant volumes of oil and gas”, the country’s energy council CNPE said on Thursday. After a meeting in Brasilia, CNPE decided on some rules for the auction that will offer extra oil from... Continue Reading →
After four years of losses, Petrobras returns to profit
After four consecutive years of loss, the state company reported a net profit of R $ 25.8 billion in 2018, the highest in seven years and the first since corruption schemes in the state became the target of Operation Lava-Jato. In announcing its results on Wednesday, the state company attributed the return of its... Continue Reading →
ExxonMobil licenses 11 deepwater wells in Sergipe-Alagoas Basin
February 28, 2019 ExxonMobil began licensing 11 exploratory wells in areas of the 13th, 14th and 15th ANP bidding rounds when the company acquired the SEAL-M-351, SEAL-M- 428, SEAL-M-430, SEAL-M-501, SEAL-M-503, SEAL-M-573. The nearest well to the coast is 67 km from the town of Brejo Grande, in Sergipe. The company divided the logistics of... Continue Reading →
Saipem Beats Guidance But Sinks Deeper on Writedowns
Italian oilfield services player Saipem has reported loss in 2018 of €472 million ($538 million), on revenues of €8.5 billion ($9.7 billion). This result compares to net loss of €328 million ($374 million) on revenues of €9 billion ($10.3 billion) for the twelve months of 2017. Revenues in the Q4 2018 were close to €2.5... Continue Reading →
Siem Offshore braces for prolonged downturn in offshore supply vessel market
Norwegian offshore and subsea shipping company Siem Offshore believes that overall rate levels will remain volatile and at generally low levels throughout 2019. Siem also expects the imbalance of supply and demand for offshore vessels to remain for several years and continue to put pressure on the charter rates and has therefore prepared for a prolonged... Continue Reading →
Exclusive: Petrobras oil trader to plead guilty in U.S. money-laundering case – documents
A former U.S.-based oil trader sought in Brazil over a multimillion-dollar bribery scheme involving commodities traders Vitol, Glencore and Trafigura has agreed to plead guilty to conspiracy to commit money-laundering in the United States, court records show. The plea is part of a cooperation agreement by a key figure in Brazil’s “Car Wash” probe into... Continue Reading →
Petrobras approves dividends
Rio de Janeiro, February 27, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, at a meeting held today, approved dividends to shareholders who own non-voting shares, in the amount of R$ 106,678,312.41, corresponding to R$ 0.019043 per outstanding preferred share, based on the 2018 annual results, in order to meet... Continue Reading →
Petrobras – Pre-payments of bank debts
Rio de Janeiro, February 27, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that, in February, it pre-paid bank debts totaling R$ 5,9 billion and US$ 1 billion, according to the table below: Table: pre-payment operations (in million) Bank Pre-payment Original maturity Itaú R$ 95 2021 R$ 313 2023 R$ 386 2024 BNDES R$ 21... Continue Reading →
PETROBRAS – FINANCIAL REPORT ANNUAL RESULTS OF 2018
February 27th, 2019 - FINANCIAL REPORT ANNUAL RESULTS OF 2018 - Consolidated financial information revised by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Net income R$ 2.1 billion Production 2,628 mil boed Adjusted EBITDA R$ 29.2 billion See attached financial reports Release-de-Resultado-4T18-US$-Ingles Release-de-Resultado-4T18-R$-Ingles
56 local content additions under review at ANP
Most requests refer to auctioned blocks in the sixth and seventh rounds of the ANP The ANP is reviewing 56 requests for local content additions. Almost half of them (26) were submitted by Petrobras, while 22 by Petra Energia, three by Parnaíba Natural Gas (PGN), two by Niko Brasil E & P and one by... Continue Reading →
Brazil Energy Insight 