More than 99% of the votes cast by Baker Hughes stockholders on Friday were in favor of the previously announced combination of Baker Hughes with General Electric Company’s oil and gas business (GE Oil & Gas). The combination will create Baker Hughes, a GE company, which will be traded on the New York Stock Exchange (NYSE) under the ticker symbol “BHGE”.... Continue Reading →
Petrobras and CNPC form a Comprehensive Strategic Alliance
Rio de Janeiro, July 4, 2017 – Petrobras' and CNPC inform that today Mr. Pedro Parente, Petrobras’s CEO, and Mr. Wang Dongjin, Vice President of CNPC and CEO of PetroChina, signed a Memorandum of Understanding (MoU) in Beijing to structure a strategic partnership. Pursuant to this MoU, the companies agree to jointly evaluate opportunities in... Continue Reading →
Brazil diesel imports hit record despite drop in local sales
Brazilian diesel imports surged 60 percent to hit a record high in the year to May compared with the same period last year, even as domestic sales slid, Brazil's oil and fuels watchdog ANP said. In the first five months of the year, diesel imports hit 4.44 billion liters, ANP said on Friday, while domestic... Continue Reading →
Exclusive: Mexico’s Pemex sees October selection of refinery coking plant partner
Mexican state oil company Pemex plans to choose a partner at the end of October to finish the development and operate a $2 billion coking plant at its Tula refinery, government and Pemex sources told Reuters. Pemex is looking for partners to improve the performance of its state-owned refineries, which currently process about 915,000 bpd... Continue Reading →
Brazil concludes it owes Petrobras money in ‘Transfer of Rights’ deal: source
The Brazilian government concluded it owes state oil company Petrobras money after a revaluation of stakes in offshore oil blocks known as transfer of rights areas, a government source familiar with the issue told Reuters on Friday. The government will offer to settle the debt arising from the transfer of rights contracts with Petrobras, or... Continue Reading →
Petrobras – Legal proceeding on deductibility of expenses related to Petros Plan renegotiation
Rio de Janeiro, June 30, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the market disclosure of June 1, 2017, informs that the sentence by the court of first instance published on May 19, 2017 was confirmed in its entirety on June 20, 2017, through a decision in a motion for clarification. This sentence... Continue Reading →
Liquigás sale process
Rio de Janeiro, June 30, 2017 - Petróleo Brasileiro S.A. – Petrobras, pursuant to the material facts of 11/17/2016 and 1/31/2017, concerning the sale process of Liquigás Distribuidora S.A., a wholly-owned Petrobras subsidiary, to Companhia Ultragaz S.A., a subsidiary of Ultrapar Participações S.A., informs that the General Superintendence of the Administrative Council for Economic Defense... Continue Reading →
Pre-payment of debt and new financing with The Bank of Nova Scotia
Rio de Janeiro, June 30, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that it effected today a transaction with the Canadian bank The Bank of Nova Scotia, through the pre-payment of debt in the amount of US$ 500 million, which would mature in 2019. Simultaneously, the company hired a new financing in the amount... Continue Reading →
Government should extend Repetro to second link of oil chain
The federal government is expected to extend the benefit of the differentiated customs regime for the oil and gas sector, known as Repetro, to sub-suppliers of goods and services in Brazil, meeting a demand from the domestic industry, said the director of Exploration and Production of Oil and Gas Natural, João Vicente de Carvalho. According... Continue Reading →
Petrobras Executive Board approves the review of diesel and gasoline pricing policy
Rio de Janeiro, June 30, 2017 - Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact disclosed on October 14, 2016, reports that its Executive Board approved yesterday, the review of the pricing policy for diesel and gasoline traded at its refineries, to increase the frequency of price adjustments, which will be effective from... Continue Reading →
Brazil Energy Insight 