Rio de Janeiro, August 28, 2017 – Petróleo Brasileiro S.A. – Pursuant to the Material Fact dated July 26, 2017 and the press release dated August 16, 2017, Petrobras hereby informs that in August 25, 2017, the settlement of the 5th (fifth) issue of simple non-convertible unsecured debentures ("Issue" and "Debentures") in the total amount... Continue Reading →
New Chief Financial Executive Officer of Petrobras Distribuidora (BR)
Rio de Janeiro, August 28, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the Board of Directors of its wholly-owned subsidiary, Petrobras Distribuidora S.A. (BR), approved, in a meeting held on August 25, 2017 the election of Mr. Rafael Salvador Grisolia for the position of Chief Financial Executive Officer, with a term of office... Continue Reading →
Petrobras – Onshore Opportunity Disclosure – Teasers
Rio de Janeiro, August 28, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it has initiated the opportunity disclosure stage (Teasers) related to the full sale of its exploration, development and production rights in three sets of onshore fields (totaling 50 concessions), located in Rio Grande do Norte and Bahia states, as per the... Continue Reading →
Round 14 of Bidding has a total of 32 companies registered
Updated: Friday, August 25, 2017, 9:48 pm Four companies were approved Friday (25/8) at the last meeting of the Special Tender Commission (CEL). The Commission approved a total of 32 companies for the 14th Round of Tenders, to be held on September 27 in Rio de Janeiro. CEL analyzed the last eight applications, four of... Continue Reading →
Petronas profit surges on higher prices
Malaysia’s national oil company Petronas saw an increase in profit during the second quarter 2017 helped by higher prices across all products and cost cuts. Petronas’ profit after tax for the quarter was RM 7 billion compared to RM 1.7 billion in 2Q of 2016, a significant improvement mainly due to lower net impairment on assets... Continue Reading →
Material Fact – Petrobras approves corporate restructuring at Petrobras Distribuidora
Rio de Janeiro, August 25, 2017 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors approved the corporate restructuring of its wholly-owned subsidiary, Petrobras Distribuidora S.A. (BR), which will involve the following operations: 1. Capital contribution of Petrobras to BR, in the amount of approximately R $ 6.3 billion; 2. Corporate spin-off... Continue Reading →
Halliburton, Microsoft to drive O&G digital transformation
Tech company Microsoft and oil services provider Halliburton have entered into a strategic alliance aiming to drive digital transformation across the oil and gas industry. Halliburton said earlier this week that the relationship would combine the expertise of a software company with cloud and digital transformation experience with its exploration and production (E&P) science, software,... Continue Reading →
Seadrill shares hit rock bottom ahead of Chapter 11
Offshore driller Seadrill saw its share prices touch an all time low following the release of the company’s second quarter report. The shares fell below NOK 2,00 on Thursday morning, with some trades made at below 1,79 NOK a share, a giant drop from the 2013 heydays when the share was at an all time... Continue Reading →
Bassoe: Up to 340 offshore drilling rigs could be scrapped by 2020
With utilization levels at just over 50% for all rig types and over 130 newbuild rigs stranded or under construction, the need for an increase in rig scrapping (recycling) seems obvious. But it’s not that simple. Owners such as Transocean, Diamond, and Ensco have made significant contributions to reducing oversupply in recent years. Combined, they... Continue Reading →
Temer Buoyed by Brazil Vote to Curb Budget-Busting Loans
Brazil’s lower house of Congress passed a bill curtailing subsidized lending practices that had drained public coffers and stoked inflation, boosting President Michel Temer’s reform agenda. The Chamber of Deputies voted on Thursday in favor of legislation that phases out below-market loans from state development bank BNDES and creates the new TLP rate. Legislators rejected... Continue Reading →
