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Petróleo Brasileiro S.A. – Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$ 557,020,835.82, in an Extraordinary General Meeting of Transpetro.The capital reduction was made at book value, with no change in the number of shares, through... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, as of today, the amount of R$ 232.6 million, as a result of a leniency agreement entered into between the Federal Prosecutor's Office (MPF) and Vitol Inc. and Vitol do Brasil Ltda. (Vitol), on 12/03/2020. Thus, the total amount of funds returned to the company as... Continue Reading →
ExxonMobil will start a new exploration campaign off the Brazilian coast. The company received the authorization from Ibama (Brazilian Environmental Institute) to drill wells in blocks BM-C-753, BM-C-789, BM-S-536, BM-S-647 and Titã, located in the Campos basins and Santos. The license granted by the environmental agency will last for four years. With the authorization in... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it presented today a request for arbitration with an indemnity claim estimated at approximately R$ 800 million, against Odebrecht S.A., based on the shareholders' agreement regarding Braskem, for violations of its terms.Braskem is not part of this arbitration, which is protected by confidentiality.
In 2017, the Brazil National Petroleum Agency (ANP) issued a failure mode alert: stress corrosion cracking (SCC-CO2) triggered by the presence of CO2 in high-pressure pre-salt conditions had been identified as the cause of broken tensile armor wires on a certain flexible pipe installation. Relatively common in other applications where carbon steel is subject to... Continue Reading →
Royal Dutch Shell has acquired a 50% operating stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in deep water off the Colombian Caribbean coast, from Colombia’s state-owned oil company, Ecopetrol. Shell’s (RDS.A) involvement is seen as a great opportunity for Colombia to develop its energy potential in a safe and efficient manner.... Continue Reading →
Exxon Mobil Corporation XOM recently reached a milestone, as the Liza-1 well in Stabroek block offshore Guyana met the original target of 120,000 barrels of oil per day (bpd) production at the site. A glitch in the re-injection process and equipment delays deferred the achievement of the milestone. Moreover, the coronavirus pandemic delayed the commissioning of... Continue Reading →
Rodolfo Saboia took office on 23/12 as director general of the ANP. He was approved in the plenary of the Federal Senate and will occupy, in a four-year term, the vacancy left by Décio Oddone, who resigned in March of this year. Since the departure of Décio Oddone until yesterday, when his term officially ended,... Continue Reading →
The Covid-19 pandemic has devastated crude and condensate demand in 2020, creating massive supply surpluses and filling up inventories, causing producers to slash output in order to keep prices at somewhat profitable levels, according to Rystad Energy. Rystad Energy’s latest balances, however, show that 2021 could offer producers a window of opportunity, as monthly supply... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on December 18, 2020, informs that its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) concluded today the financial settlement of the early redemption of the 3.750% Global Notes, 5.375% Global Notes and 8.375% Global Notes, maturing in 2021, and of the 6.125% Global Notes... Continue Reading →
