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 No Longer Wants ‘Oil’ in Its Name
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 →
Wanted: God-Fearing, Experienced President to Fix Brazil
Disillusioned Brazilian voters want a God-fearing president with ample political experience to improve social welfare and public security, according a poll published on Tuesday. Read more
Petrobras class action law suit, tax refinancing weighs on earnings
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 →
Brazil’s Petrobras Distribuidora expects 2018 fuel imports to fall
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 →
Regulatory Natural Gas Framework in Statoil’s Sights
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 →
Fugro to do submarine survey in Libra
Fugro has signed a contract with Petrobras to carry out a campaign with an autonomous submarine robot (AUV) in Libra, in the pre-salt of the Santos Basin. The Dutch company has surpassed the offers presented by Bratexco Representations and Services, DOF Subsea, Gardline, CP + and the EGS group. The scope includes services of acquisition... Continue Reading →
Studies for Amendment of Petrobras’ Dividend Distribution Rules
Rio de Janeiro, March 15, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors ordered that studies are carried out for amendments to the Company's Bylaws in connection to the clause on allocation of results, to establish quarterly payments of Dividends or Interest on Capital as well as allow the payment... Continue Reading →
CGG kicks off new multi-client survey off Brazil
French geophysical services player CGG has begun the acquisition of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin offshore Brazil. CGG said on Thursday that the Santos VIII was the most recent survey in the company’s on-going pre-salt program that delivered seismic data, enabling exploration companies to better... Continue Reading →
Statoil on track to triple Brazilian output as regulator clears Roncador deal
Brazilian competition regulator has reportedly given its approval to Statoil to acquire part of Petrobras-owned interest in the Roncador field offshore Brazil. The transaction nearly triples Statoil’s production in Brazil. According to Reuters’ report on Tuesday, Brazil’s Administrative Council for Economic Defense, also known as CADE, gave its unconditional approval to the Norwegian state-owned giant for the... Continue Reading →
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