Rio de Janeiro, January 19, 2018 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the press release of 07/18/2017, informs that negotiations with Odebrecht S.A. to revise the terms and conditions of the Braskem S.A. Shareholder’s Agreement currently in effect, have evolved into studies with the purpose of carrying out a corporate restructuring with the... Continue Reading →
Schlumberger Beats Analysts’ Estimates as Oil Market Turns Up
Schlumberger Ltd. surpassed fourth-quarter profit expectations as the oilfield-services sector emerged from its worst downturn in almost a decade. Excluding certain items, Schlumberger reported profit of 48 cents a share, according to a statement Friday, better than the 44-cent average of 33 analysts’ estimates compiled by Bloomberg. Read more
Petrobras Clarification on News: Court dispute with Braskem
Rio de Janeiro, January 18, 2018 - Petróleo Brasileiro S.A. – Petrobras reports to have received today Official Letter No. 23/2018/CVM/SEP/GEA-1, requesting the following clarification: Official Letter No. 23/2018/CVM/SEP/GEA-1 "Dear Sir, We refer to the news published on 01/17/2018 in Ancelmo Gois' column in the newspaper O Globo, under the title: "Kramer vs. Kramer" which... Continue Reading →
Petrobras owes Brazil billions, unlikely to pay in 2018, minister says
Brazilian state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) owes the government billions of dollars tied to offshore exploration rights but is unlikely to pay this year, a cabinet minister said. The government’s 2018 budget does not include any revenue from the so-called “transfer of rights” area that has sparked a dispute with the company also... Continue Reading →
China investment in Brazil hit seven-year high in 2017
China invested $20.9 billion in Brazil in 2017, the most since 2010 as a recession helped push down asset prices and attracted investors, according to Brazil’s planning ministry. The energy, logistics and agriculture sectors drew the most Chinese capital, including investments in Brazil’s rich pre-salt oil fields and China’s State Power Investment Corp $2.25 billion... Continue Reading →
IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally
U.S. oil output is set for “explosive” growth this year as prices rally, potentially offsetting a further collapse in Venezuela’s production, the International Energy Agency said. The agency is joining a chorus of voices from Goldman Sachs group Inc. and OPEC’s own analysts in warning of a surge in U.S. production as oil hits three-year highs. Output... Continue Reading →
This Oil Major Has a Supercomputer the Size of a Soccer Field
Big Oil is now Big Tech. So big, in fact, that Eni SpA’s new supercomputer is the size of a soccer field. Read more
Oil’s Sustained Rise Giving Oilfield Servicers Time to Recover
Oilfield-service providers, happy to close the book on a largely unforgiving 2017, are eyeing a rebirth with higher crude prices sowing the seeds for a prolonged period of growth. Read more
Petrobras Approval of revision of pricing policy for household gas (LPG-P13)
Rio de Janeiro, January 18, 2017 - Petróleo Brasileiro S.A. – Petrobras, further to the press release of 12/7/18, reports that its Executive Board has approved the revision of the pricing policy for commercialization of Liquefied Petroleum Gas to distributors sold in cylinders of up to 13 kg for residential use and defined a new... Continue Reading →
Petrobras to start new contract bidding procedures in February
Petrobras intends to start implementing its new bidding and contract regulation (RLCP) next month. The document governs the general contracting rules, in order to meet the requirements of the State Owned Companies Law, which establishes that, as a rule, contracting must be carried out through public bidding. Published this week in the "Official Gazette of... Continue Reading →
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