Statoil ASA (ticker: STO) and Petroleo Brasileiro S.A. – Petrobras (ticker: PBR) have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil. Total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million. “This
From The Wall Street Journal In a few months, Brazil’s federal government will start receiving crude oil from a huge field, known as Libra, off the coast of Rio de Janeiro. But the government has no tanker ships to unload oil from the platform where it will be pumped. It has no terminals to store oil, no pipelines to transport
Petrobras plans to reduce its $124 billion debt, dropping its debt-to-EBITDA to 2.5 by 2018 Brazil’s state-owned Petroleo Brasileiro (ticker: PBR) released both its strategic, and business and management plans for 2017 to 2021 as the company looks to rebuild trust with investors as Petrobras, as the company is commonly referred to, attempts to deleverage amid a corruption probe. Petrobras
The president of Brazil named Pedro Parente chief executive officer of state-led oil company Petroleo Brasileiro SA. It was a move by interim Brazilian President Michel Temer to revamp economic policy and shore up the debt-laden oil producer. Parente is best known for his role as chairman of the Brazil unit of agribusiness and commodities-trading giant Bunge Ltd from 2010
Petrobras reports $358 million loss on lower production and sales Brazil’s state-owned oil giant, Petroleo Brasileiro (ticker: PBR), reported its first quarter results yesterday, showing a 1.25 billion reais ($358 million) loss in the first three months of the year. Petrobras, as the company is commonly called, is the most in-debt oil and gas company in the world, and has
Oil Price Slide, Lower Exchange Rates Force Balance Sheet Adjustment 2015-2019 Plan is $125 Billion Lower than 2010-14 Plan The past year has been one to forget for Petrobras (ticker: PBR), as Brazil’s state owned oil magnate moves on from a messy scandal that has revealed some of the most prominent figures in the government. Aside from the proverbial black
Petrobras (ticker: PBR) expects to raise US$2.5 billion through the issuance of 100-year global notes, the company announced on June 1, 2015. The notes include an annual yield of 8.45% and were issued at $0.81 on the dollar, enticing about $13 billion from potential investors, according to a source of The Wall Street Journal. Petrobras is the most indebted oil
Chairman of India’s Videocon says new discovery will be one of the lowest cost wells in the world A consortium that includes a 50:50 joint venture between Bharat Petroleum (ticker: PBCL) and Videocon Industries (ticker: VIDEOIND), and Brazilian oil major Petrobras (ticker: PBR) report a significant discovery off the northeast coast of Brazil. The discovery was made in a well
Petróleo Brasileiro S.A. (ticker: PBR), or Petrobras, will release its official Q3’14 financial results in January 2015 without the external auditors report from PricewaterhouseCoopers (PwC). The decision, announced on December 29, 2014, adds that PBR is “committed to releasing its third quarter accounting statements reviewed by PwC as soon as possible.” The company typically releases its third quarter results in
Petróleo Brasileiro S.A., or Petrobras (ticker: PBR), is the state-run oil company of Brazil and has operations in 24 countries across five continents. It is the largest producer in South America and participates in E&P, refining, trade, transportation, petrochemicals, oil distribution, electricity, biofuels, and sources of renewable energy. PBR celebrated its 60th anniversary on October 3, 2013. On October 21,
Roberto Monteiro – Chief Financial Officer, OGX Petroleo e Gas Participacoes SA (OGXPY) Roberto Monteiro, new CFO and Investor Relations Officer of OGX was previously the Chief Financial Officer and Investor Relations Officer of OSX Brasil S.A., since 2009. From 1999 to 2009 Mr. Monteiro worked in América Latina Logísitca – ALL, where he served as Financial Manager – Brazil, Chief Financial Officer
