Reuters Petroleo Brasilerio SA, or Petrobras, Chief Financial Officer Ivan Monteiro and Exploration and Production chief Solange Guedes spoke to reporters in Sao Paulo about the company's agreement to sell its 66 percent stake in the BM-S-8 offshore block, home to the giant Carcara field, to Norway's Statoil ASA. * Recent Petrobras asset sales an... Continue Reading →
Petrobras – Sale of PetroquímicaSuape and Citepe
Rio de Janeiro, July 28, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that its Executive Board approved today exclusive negotiations with the company Alpek, on a 60-day basis, renewable for a further 30 days, for the sale of its stakes in Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe). Alpek... Continue Reading →
Petrobras – Sale of Stake in Exploration Block BM-S-8
Rio de Janeiro, July 29, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that, in a meeting held on July 28th, the Board of Directors approved the sale of the company’s stake in exploration block BM-S-8 to Statoil Brasil Óleo e Gás Ltda. This transaction comes about as a result of a competitive bidding process... Continue Reading →
Brazil’s Lula tells U.N. his rights violated in corruption probe
Brazil's former president Luiz Inacio Lula da Silva attends a protest against Brazil's interim President Michel Temer and in support of suspended President Dilma Rousseff at Paulista Avenue in Sao Paulo, Brazil, June 10, 2016. REUTERS/PAULO WHITAKER Lawyers for Brazil's former President Luiz Inacio Lula da Silva petitioned the United Nations on Thursday with allegations... Continue Reading →
Eni Misses Estimates as Bigger Tax Burden Leads to Loss
Eni SpA posted a surprise loss as a heavier tax burden added to the problems of low oil prices and a production shutdown in Italy. Shares fell. The company’s adjusted net loss was 290 million euros ($321 million) compared with a profit of 505 million euros a year earlier, it said in a statement Friday.... Continue Reading →
Exxon Mobil Profit Slumps as Global Oil Glut Spreads to Fuel
Exxon Mobil Corp. profit fell, missing analyst estimates, as an oil glut spread to motor fuels, dragging down refinery margins. Net income declined to $1.7 billion, or 41 cents a share, from $4.19 billion, or $1, a year earlier, Irving, Texas-based Exxon said in a statement on Friday. The per-share result was 23 cents lower than... Continue Reading →
Statoil Buys Petrobras Oilfield for $2.5 Billion Amid Crash
Statoil ASA, Norway’s biggest oil company, will buy an offshore oil block in Brazil from Petroleo Brasileiro SA for $2.5 billion, seizing on lower asset valuations amid a price slump to make its biggest acquisition since 2011. Statoil will buy Petrobras’s operating interest of 66 percent in the BM-S-8 offshore license in the Santos basin,... Continue Reading →
Sale of Petrobras Argentina Completed
Rio de Janeiro, July 27, 2016 – Petróleo Brasileiro S.A. (Petrobras) announces that today it finalized the sale of its entire 67.19% stake in Petrobras Argentina (PESA), held through Petrobras Participaciones S.L. (PPSL), to Pampa Energía. The operation was completed today with the payment of US$897 million by Pampa, after all the conditions precedent in... Continue Reading →
Brazil to sell oil rights near areas Petrobras seeks to sell -ANP
Jul 28, 2016 Reuters Brazil plans to sell rights to new oil exploration and production areas at an auction in 2017 adjacent to existing blocks where state-led Petroleo Brasileiro SA seeks to sell all or part of its stake, regulator ANP said on Thursday. Magda Chambriard, director-general of the ANP, said her agency plans to... Continue Reading →
Billionaire Roekke Forces New Merger in Norway Oil Industry
Solstad Offshore ASA, a supply vessel company controlled by Kjell Inge Roekke, will merge with rival Rem Offshore ASA in the latest deal orchestrated by the Norwegian billionaire to take advantage of the collapse in crude prices. Aker ASA, Roekke’s holding company, last week blocked a Rem restructuring plan through a stake in the company’s bonds.... Continue Reading →
Brazil Energy Insight 