(Reuters) - Analysts at JPMorgan Chase & Co have downgraded shares in Petroleo Brasileiro SA to neutral following the resignation of Pedro Parente as chief executive officer, “until we have a better understanding of what this means for the company and its governance.” The fact that no other executives resigned is positive for Petrobras, as... Continue Reading →
Greenpeace disrupts Total’s AGM protesting against Brazil drilling plan
Greenpeace activists disrupted oil company Total’s annual general meeting in Paris on Friday, protesting against Total’s plans to drill near the Amazon Reef offshore Brazil. Several Greenpeace climbers deployed banners from the ceiling inside the AGM, saving “Save the Amazon Reef.” Read more
Ivan Monteiro, member of Petrobras’s Board of Directors may accept to be CEO
From the Newsroom / 06/2018 Sources said that Petrobras' chief financial officer Ivan Monteiro would have indicated he would accept to take over the company as long as there is no interference in the oil price policy. He was taken to the company by then-President Aldemir Bendine and held by Pedro Parente, who resigned... Continue Reading →
Petrobras CEO quits after Brazil fuel intervention, shares plunge
Petroleo Brasileiro SA’s chief executive quit on Friday in a surprise move that wiped some $12 billion off the state-controlled oil producer’s market valuation, after Brazil’s government responded to a trucking strike by intervening in the company’s fuel pricing policy. Pedro Parente, who in two years in the job had succeeded in slashing Petrobras’... Continue Reading →
Petrobras, Engie extend period to negotiate contract of pipeline network – sources
Brazilian state-controlled oil company Petroleo Brasileiro SA has extended the deadline for discussion with France’s Engie SA about the sale contract for a major pipeline network, two sources with knowledge of the matter said. Engie had the highest bid among three consortia interested in acquiring Transportadora Associada de Gás SA, known as TAG. The French... Continue Reading →
LETTER OF RESIGNATION FROM THE PRESIDENT OF PETROBRAS PEDRO PARENTE
Petronoticias Petrobras President Pedro Parente resigned this morning (1), after a meeting with President Michel Temer. His resignation from the presidency of Petrobras did not take the market by surprise, since he accepted to assume the Presidency of the Board of Directors of BRF. The very pressure of the oil workers asking for his exit... Continue Reading →
Brazilian pre-salt continues to deliver high productivity performance, says GlobalData
Presently, ultra-deepwater Brazilian pre-salt prevails by delivering high productivity performance assurance to the industry expectations and to the government advantage, according to GlobalData, a leading data and analytics company. The top ten planned and announced pre-salt areas in Brazil will spend over $220 billion throughout their lifetime in capital and operating expenditure. These projects are... Continue Reading →
Brazil returns to normal as oil strike, trucker protests wind down
Brazil’s economy showed signs of returning to normal on Thursday as the largest oil workers union ended a strike well ahead of schedule and an 11-day truckers protest appeared to dissolve. Oil workers union FUP recommended on Thursday that members suspend a 72-hour strike they began on Wednesday after a court said the organization would... Continue Reading →
SolstadFarstad vessel trio in Petrobras charter extensions
Norway’s offshore vessel provider SolstadFarstad has entered into a new contract and contract extensions with Brazil’s Petrobras. The deals are for Solstad Farstads two anchor handlers and one construction support vessel. The Norwegian company’s AHTS vessel BOS Topazio has been awarded a 3-year firm contract, expected to start in the first quarter of 2019, in... Continue Reading →
Exxon Aims to Boost Production Even With Any Climate Rules
Exxon's CEO says the company can more than double its earnings by 2025 and will invest in new oil and gas production even if policymakers adopt rules to combat climate change. Darren Woods told shareholders Wednesday that technology like biofuels will allow the company to produce energy with lower carbon emissions. Read more
Brazil Energy Insight 