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April 28, 2020 Petróleo Brasileiro S.A. - Petrobras reports that its Board of Directors has approved the revision of the top debt metrics included in the 2020-2024 Strategic Plan, replacing the net debt/EBITDA indicator to the gross debt indicator. The review of the metric considered the high volatility of the net debt/EBITDA indicator, extremely sensitive... Continue Reading →
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project. Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations, and maintenance of FPSO Anna Nery, an FPSO for Petrobras' Marlim revitalization project in Brazil. Continue reading
BP's first-quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak,... Continue Reading →
The negative effects of the global recession caused by the public health crisis did not substantially impact Petrobras’ production and sales performance in the first quarter, according to the Brazilian oil company’s production and sales report. Petrobras said on Monday that the average production of oil, NGL, and natural gas was 2,909 kboed, resulting in... Continue Reading →
FPSO operator BW Offshore has signed an agreement with Petrobras for an extension of the lease and operation of BW Cidade de São Vicente in Brazil. BW Offshore said on Tuesday that the extension was for 48 days and that the contract would expire on 11 June 2020. Continue reading
April 27, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the press release disclosed on January 23 , 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio), on its behalf and representing its partner RP Biocombustível Ltda, is initiating the binding phase of the competitive process regarding the joint sale of all shares... Continue Reading →
Petrobras 1Q20 Production and Sales Report - Petrobras 1Q20 production and sales report
Apr 27, 2020 ANP published (April 27), Resolution nº 817/2020 dealing with the decommissioning (deactivation) of oil and natural gas exploration and production facilities, the procedure for returning areas to the ANP (with inclusion in the Permanent Offer) and the sale and reversal of assets. This is a milestone for the industry, as the modernization... Continue Reading →
Angolan state oil company Sonangol said on Friday it has opened a public tender to sell its stakes in some private firms as part of a government bid to privatize key state assets including parts of Sonangol itself by 2022. Describing Sonangol as an "octopus," the country's minister of Mineral Resources and Petroleum, Diamantino Azevedo,... Continue Reading →
Apr 27, 2020 Petrobras submitted to Ibama authorization to drill a well, called Anhanguá, in block POT-M-762, in the Potiguar Basin. The planned activity will be carried out 75 km off the coast of Ceará, in a water depth of 2,200 m, and the expected oil characteristics are 28º API, similar to that found in... Continue Reading →
