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Brazil’s newly inaugurated President Jair Bolsonaro said on Tuesday his election had freed the country from “socialism and political correctness,” and he vowed to tackle corruption, crime and economic mismanagement in Latin America’s largest nation. Bolsonaro, a former army captain turned lawmaker who openly admires Brazil’s 1964-1985 military dictatorship, promised in his first remarks as... Continue Reading →
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Rio de Janeiro, December 28, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the appointment of Mr. Danilo Ferreira da Silva to the position of member of the Company's Board of Directors, until the next Shareholders' General Meeting. Mr. Danilo Ferreira da Silva will... Continue Reading →
Rio de Janeiro, December 28, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the Material Fact disclosed on December 26, 2018, reports that the application for registration of the public distribution offer of simple, unsecured debentures not convertible into shares ("Debentures"), in up to three (3) series, in the sixth (6th) issue by the... Continue Reading →
12/28/18 Petrobras' technical area closed a report suggesting the hiring of Ocean Rig to charter two rigs for the Mero project. The document was finalized by the bidding committee a little over a week ago. It will then be forwarded to the oil company's board of directors for approval at the first meeting of the... Continue Reading →
Rio de Janeiro, December 28, 2018 - Petróleo Brasileiro SA - Petrobras, in addition to the material facts disclosed on 10/14/2016 and 06/30/17, informs that its Executive Board approved, yesterday, a complementary protection mechanism, aiming to give additional flexibility to the management of the diesel price policy, as it already exists for gasoline, as disclosed... Continue Reading →
The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. The Brent benchmark will average $70 a barrel in 2019, almost a third higher than its price on Thursday, according to a Bloomberg survey of oil analysts. Futures in London and New York plunged... Continue Reading →
Rio de Janeiro, December 27, 2018 - Petróleo Brasileiro SA - Petrobras informs that in November its total production of oil and gas, including natural gas liquids (NGL), was 2.62 million barrels of oil equivalent per day (boed), 2.52 million boed produced in Brazil and 100 thousand boed abroad. The total operated production of the... Continue Reading →
12/27/18 Oil and gas leaders are optimistic about the future demand for semi-submersible platforms, but, according to the IHS Markit analysis, growth should be moderate as the market is far from reaching full use of these vessels. According to the agency's Floating Rig Report and the Petrodata RigPoint database, only 48% of the floaters are... Continue Reading →
A lingering scandal involving Brazilian President-elect Jair Bolsonaro’s son has soured his inauguration next week and tarnished the reputation of a far-right maverick who surged to victory on a vow to end years of political horsetrading. Bolsonaro, who spent nearly 30 years in Congress, takes office on Jan. 1 after a strong electoral win that... Continue Reading →
Brazil Energy Insight 