June 23, 2017 ITC Global, a provider of satellite communications for remote and difficult environments, announced on Friday that it has begun to deliver communications services to seven FPSOs in Brazil. Platform ships are being equipped with new infrastructure components; and dedicated links are being established for business applications. The company did not disclose the... Continue Reading →
Petrobras negotiates additive on contract for pre-salt equipment in search of safety
Petrobras is negotiating an addendum to the contract with the supplier of equipment TechnipFMC aimed at providing more safety for connections used in the pre-salt production, after two failures in gas-injected pipelines that alerted to possible risks in the country's important oil producing area, revealed The oil company told Reuters. The oil company is now... Continue Reading →
Petrobras authorizes resuming negotiations with Sete Brasil
Rio de Janeiro, June 23, 2017 - Petróleo Brasileiro S.A. – Petrobras informs that its Executive Board has authorized the Company to resume negotiations with Sete Brasil Participações S.A. (currently under judicial reorganization at the 3rd Business District Court of Rio de Janeiro), at the request of Sete Brasil. Any result of these negotiations will... Continue Reading →
OPEC Gets Another Supply Headache From Surging Brazilian Exports
Brazil’s most crippling recession on record is complicating life for OPEC. The nation’s growing oil production combined with slumping domestic demand has unleashed record exports, undermining OPEC’s efforts to reverse falling prices through output cuts. Read more
Petrobras hires contractors for works at Abreu e Lima refinery
23/06/201713:25 NICOLA PAMPLONA RIO DE JANEIRO, RJ (FOLHAPRESS) - Petrobras announced the contracting of the Conenge SC / Possebon consortium to complete works at Abreu e Lima Refinery facilities in Pernambuco. The refinery has been in operation since 2014 but the lack of equipment for the treatment of sulfur and other pollutants prevents it from... Continue Reading →
Petrobras revives plan for IPO of fuel distribution unit
Petróleo Brasileiro SA (PETR4.SA) is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday. Pedro Parente said at an event in São Paulo that a proposal would be delivered for board approval... Continue Reading →
Solstad Farstad goes live as trio finalizes merger
Norway on Thursday got a new OSV player after Solstad Offshore, Farstad Shipping and Deep Sea Supply merged into one new company named Solstad Farstad. With the completion of the merger transactions announced on February 6, Wednesday marked the effective conception of the world’s largest offshore service vessel (OSV) company, Solstad Farstad. The new company... Continue Reading →
Petrobras announces the Settlement of the Early Redemption of Series of Notes maturing in 2018
Rio de Janeiro, Brazil – June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), further to the announcement released in June 20, 2017, has concluded the redemption of its 2.750% Global Notes due 2018, 5.875% Global Notes due 2018 and 4.875% Global... Continue Reading →
Business Model of Petrobras Distribuidora (BR)
Rio de Janeiro, June 22, 2017 - Petróleo Brasileiro S.A. – Petrobras reports that its Executive Board, at its meeting held today, has authorized the development of studies for an Initial Public Offer (IPO) of its wholly-owned subsidiary Petrobras Distribuidora S.A. (BR), turning this a subsidiary into a company listed on the B3 stock exchange’s... Continue Reading →
Brazil Carry Trade Beckons Investors Ignoring Political Risk
Investors scared off by Brazil’s political turmoil are returning to its currency, lured by the potential for Latin America’s second-highest carry return. The selloff in the real immediately after fresh corruption allegations were leveled at President Michel Temer last month has now subsided, with one-month price swings falling below expected volatility levels based on options... Continue Reading →
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