Rio de Janeiro, September 08, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its wholly owned subsidiary Liquigás Distribuidora S.A. (Liquigás) has entered into an agreement with the Administrative Council for Economic Defense (CADE) on 09/06/2017 to halt two administrative processes on the formation of a cartel in the Liquefied Petroleum Gas (LPG) distribution... Continue Reading →
PETROBRÁS CONCLUDES WELL AND FINDS PETROLEUM PRESENCE IN LIBRA
Petrobrás concluded a new well this week in the Libra field, in the Santos Basin pre-salt. The activity in well 3BRSA1345RJS was done by means of the West Tellus (Seadrill) drill ship in depth of 2,087 meters. The drilling began in the area in mid-February. Petrobras also notified the National Petroleum Agency of the finding... Continue Reading →
Petrobras – Clarification on News – Complement: Sale process of Termobahia stake
Rio de Janeiro, September 6, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it received on 9/4/2017, Official Letter No. 304/2017/CVM/SEP/GEA-1, which requests the following clarification: Official Letter No. 304/2017/CVM/SEP/GEA-1 “Dear Sir, We refer to Official Letter no. 290/2017/CVM/SEP/GEA-1 and the communication to the market, filed via Empresas.net System, on 8/21/2017, in response to... Continue Reading →
Petrobras – Divestment in the Fertilizer Sector: Disclosure of Opportunity – Teaser
Rio de Janeiro, September 11, 2017 - Petróleo Brasileiro SA - Petrobras informs that it has initiated the disclosure phase of the Teaser, regarding the process of divesting 100% of its assets in Araucária Nitrogenados SA ("ANSA") and in the Nitrogen Fertilizer Unit III ("UFN-III"). ANSA is a wholly-owned subsidiary of Petrobras, with a nitrogen... Continue Reading →
Petrobras – Divestment Opportunities in Shallow Water Fields: Confidentiality Agreement Deadline Extended
Rio de Janeiro, September 08, 2017 - Petróleo Brasileiro S.A. – Petrobras, in continuity to the Material Fact disclosed on 7/28/2017, informs that deadline for signing the Confidentiality Agreement, in order to have access to technical, legal and financial information regarding the full sale of its exploration, development and production rights in seven sets of... Continue Reading →
Petrobras – Memorandum of Understanding with Shell
Rio de Janeiro, September 8th, 2017 - Petróleo Brasileiro S.A. - Petrobras reports that has signed, today in Holland, a Memorandum of Understanding (MoU) with Shell Exploration Company (West) B.V., a Royal Dutch Shell subsidiary, to establish a mutual long-term collaboration, with operational focus, in assets which are already operated in partnership between the two... Continue Reading →
It’s Too Soon for Brazil to Relent on Rate Cuts
Brazil's central bank has been unrelenting in its interest-rate cuts. It's too soon to ease up. With inflation tumbling, the economy still struggling and the country's political class mired in one graft accusation after another, Central Bank of Brazil Governor Ilan Goldfajn looks like the adult in the room. It's a mantle he may not... Continue Reading →
The next oil major? Service firm Schlumberger’s big bet on production
The world’s largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers’ oil and gas projects - investing in the same ventures it supplies with equipment and expertise. The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other Schlumberger units... Continue Reading →
U.S. Ethanol Industry Asks Trump to Intervene in Brazil Dispute
U.S. ethanol producers will ask the Trump administration to intervene in a trade dispute with Brazil as tensions between the industry and foreign competitors continue to escalate. The Renewable Fuels Association, Growth Energy and the U.S. Grains Council -- all Washington-based lobbying organizations -- said in a statement Thursday that the government should “take immediate... Continue Reading →
Solstad Farstad sells anchor handling trio to Brazilian Navy
Norwegian offshore shipping company Solstad Farstad has sold three of its anchor handlers to the Brazilian Navy in a deal worth approximately $24 million. Norway’s newly-formed OSV provider has participated in a public auction in Brazil for the sale of three anchor handling tug and supply (AHTS) vessels to the Brazilian Navy, whereby the Brazilian... Continue Reading →
Brazil Energy Insight 