A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp’s plan to resume exploration in a Brazilian offshore field, people familiar with the matter said. Chevron, which operates the field with a 52 percent stake, approved the drilling plan but Petrobras, which holds a 30 percent stake nixed the move,... Continue Reading →

  Rio de Janeiro, October 30, 2018 – Petróleo Brasileiro S.A. –  Petrobras, following up on the release disclosed on 03/28/2018, informs that it postponed until 1/31/2019 the mothballing of the fertilizer plants located in Sergipe (Fafen-SE) and Bahia (Fafen-BA). The company continues to evaluate alternatives to the mothballing with government representatives and industry federations... Continue Reading →

Oilfield services provider Baker Hughes, a GE company, recorded a profit during the third quarter of 2018 driven by a 7% increase in revenues when compared to the prior-year period. According to its financial report published on Tuesday, Baker Hughes’ revenue for the third quarter was $5.7 billion, up $118 million or 2% sequentially and up... Continue Reading →

Senate leader Fernando Bezerra (MDB / PE) will try to include on Tuesday's House of Representatives session an urgent request to vote on PLC 78/2018, which frees Petrobras to sell up to 70 % of the areas of onerous assignment and provides guidelines for the auction of the excess. The senator, with a request with... Continue Reading →

Teekay Offshore Partners L.P. (NYSE:TOO) (Teekay Offshore or thePartnership) announced today that certain of its subsidiaries have entered into a settlement agreement with Petróleo Brasileiro S.A. and Petroleo Netherlands B.V. – PNBV S.A. (together Petrobras) with respect to various disputes relating to the previously-terminated charter contracts of the HiLoad DP unit and Arendal Spirit unit for maintenance and safety (UMS). As part... Continue Reading →

  October 29, 2018 Petro Rio has just increased its stake in the Frade field, in the Campos Basin, after the purchase of Frade Japan Petroleum - which holds a 18.26% stake in the concession. The announcement of the acquisition was made on the 29th, but the value of the deal was not disclosed. After... Continue Reading →

Rio de Janeiro, October 29, 2018 - Petróleo Brasileiro SA - Petrobras, following up on the release disclosed on 09/28/18, informs that, due to the methodology determined in the National Petroleum Agency (ANP) Resolution nº 743, of 08/27/18, the average price of diesel established by the company in its refineries and terminals will be R$... Continue Reading →

Petroleo Brasileiro SA is close to announcing a sale of its stake in an African oil and gas exploration business to a group of investors led by Vitol Group, people familiar with the matter said. The state-run oil company’s partners in the African operations, Brazil’s Banco BTG Pactual and the U.K.’s Helios Investment Partners, have... Continue Reading →

RIO DE JANEIRO (Bloomberg) -- Brazil’s President-elect Jair Bolsonaro is staring at an oil windfall. After a decade of stagnant production, Brazil’s offshore mega-projects are about to deliver a double whammy with exports set to surge and Brent prices comfortably above $70/bbl. This means more revenue for a country beset with fiscal deficits, and more... Continue Reading →