RIO DE JANEIRO, BRAZIL – March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces the commencement of offers by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) to purchase for cash PGF’s notes of the series set forth in the table below for an aggregate purchase price, excluding accrued and unpaid... Continue Reading →

Oil majors aren’t famed for their pranks, but Statoil ASA had analysts checking it wasn’t April Fool’s Day when it announced a new name that turned out to have been acquired from an Oslo veterinary practice specializing in horses. “We checked the calendar,” SpareBank 1 Markets analyst Teodor Sveen Nilsen said in a note to clients. “It’s... Continue Reading →

Subsea engineering and construction company Subsea 7 has been awarded a sizeable contract for a conventional project, in shallow water.  Subsea 7 defines a sizeable contract as being between $50 million and $150 million. The company said on Thursday that the offshore execution of the awarded conventional project, in shallow water, is planned for 2019. However,... Continue Reading →

Rio de Janeiro, March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has published today, for the first time, its Integrated Report. The document consolidates Petrobras’ key information for the year 2017. The Integrated Report consists of: (i) Annual Report, which provides comprehensive information about the company, previously disclosed in the Management... Continue Reading →

Rio de Janeiro – March 15, 2018 - FINANCIAL REPORT FOURTH QUARTER OF 2017 RESULTS - Derived from consolidated interim financial information audited by independent auditors, prepared in accordance with International Financial Reporting Standards - IFRS. Loss R$ 446 million Production 2.767 mil boed Adjusted EBITDA R$ 76.557 million Results Petrobras reported a loss of... Continue Reading →

Statoil ASA, Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production. “The world is changing, and so is Statoil,” said Chairman Jon Erik Reinhardsen in a statement. “The biggest transition our modern-day energy systems have ever seen is underway, and we... Continue Reading →

Brazil’s Petroleo Brasileiro SA (PETR4.SA) posted a significant net loss in the fourth quarter of last year, as a major class action settlement with U.S. shareholders weighed on results. Petrobras, as the company is known, posted a net loss of 5.477 billion reais ($1.68 billion), versus a 2.51 billion real profit during the same period... Continue Reading →

Brazilian fuel distribution company Petrobras Distribuidora SA forecast on Wednesday a drop in fuel imports this year from 2017 partly due to a more aggressive pricing policy by state-run Petroleo Brasileiro. Speaking on a conference call to discuss quarterly results, Chief Executive Ivan de Sá also cited falling margins for companies that typically import fuel.... Continue Reading →

Statoil is awaiting the definition of the new regulatory framework for natural gas to move forward with the Pão de Açúcar project, located in the BM-C-33 block in the Campos Basin, according to Anders Opedal, president of the company. The company has already drilled all the wells committed with the ANP and is currently working... Continue Reading →