Petrobras – Page 4 – Oil & Gas 360

Petrobras’s $18 Billion Rout Deepens on Series of Downgrades

February 22, 2021

Bloomberg A sell-off in Brazil’s state-controlled oil firm Petroleo Brasileiro SA picked up on Monday after a group of analysts downgraded the stock within 24 hours, following the government’s decision to replace the company’s chief executive officer. Bradesco BBI, BTG Pactual, Credit Suisse, JPMorgan, Nau Securities, Santander, Scotiabank and XP Investimentos cut their ratings on the shares after Brazilian President

Exclusive: Talos, Enauta consortium places bid for Petrobras Albacora fields, sources say

February 10, 2021

Reuters RIO DE JANEIRO – A consortium of Talos Energy Inc, private equity firm EIG Global Energy Partners, Enauta Participacoes SA and 3R Petroleum Oleo e Gas SA has submitted a non-binding offer for Brazilian oilfields Albacora and Albacora Leste, five sources familiar with the matter told Reuters. The exact value of the bid submitted to Brazil’s state-led oil company

Brazilian prosecutors sue Maersk, seek to freeze $200 million

December 11, 2020

Reuters RIO DE JANEIRO -Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday. The lawsuit requests that a judge freeze almost 1 billion reais ($198 million) in assets in order to make sure funds are

Petrobras, Equinor stake out opposite renewables strategies in Brazil

December 1, 2020

Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is

Brazil’s Petrobras pays off $2 billion revolving credit line

September 28, 2020

Reuters BRASILIA – Brazilian state-controlled oil producer Petroleo Brasileiro S.A. PETR4.SA said on Monday that it has fully repaid the remaining $2 billion balance on its dollar-denominated revolving credit line, which will now allow it to access new facilities. Petrobras can now access lines of up to $7.6 billion, and 4 billion reais ($727 million), the company said in a securities

Brazil boosts oil exports to Asia as global rivals make record cuts

July 20, 2020

Reuters RIO DE JANEIRO/MEXICO CITY – Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic. The rise reflects Brazil’s growing clout among global oil producers as its

Petrobras again delays Garoupa oilfield offer as faces new setbacks: sources

May 12, 2020

Reuters RIO DE JANEIRO – Petrobras has delayed the submission of binding offers for an oilfield cluster known as Polo Garoupa for a fourth time, two sources with knowledge of the matter told Reuters, as investor appetite in Brazil’s offshore oil sector rapidly dries up. With annual production of 19,600 barrels of oil equivalent per day according to bidding

Brazil’s Petrobras says oil exports hit new record 1 million barrels a day in April

May 4, 2020

Reuters BRASILIA – Brazilian state-owned oil giant Petrobras said on Monday it exported a record 1 million barrels of oil a day in April, beating the previous record of 771,000 barrels a day in December last year. In a securities filing, Petroleo Brasileiro SA, as the firm is formally known, said that marked an increase of 145% over the same

Chevron, Petrobras plan to sell deepwater Brazilian field

February 3, 2020

Houston Chronicle Chevron and Brazil’s state oil company plan to sell their 100 percent ownership stake of a key deepwater field offshore of South America’s largest country as they both seek to sell assets to cut costs. The deepwater Papa Terra oil field in Brazil’s Campos Basin came online in 2013 and now produces oil and gas through two offshore platforms. Brazil’s

Petrobras to price its largest share offering in a decade on Feb. 5

January 22, 2020

Reuters SAO PAULO (Reuters) – Brazil’s Petrobras will price its largest share offering in a decade on Feb. 5, it said in a securities filing on Wednesday, through which development bank BNDES will seek to divest part of its stake in the oil company. The base share offering could raise 19.5 billion reais ($4.66 billion), considering Petrobras’s closing share price

Petrobras to lease LNG operations in Bahia

December 10, 2019

LNG World News Brazil’s state-controlled oil and gas company Petrobras has started a process to lease its Bahia regasification LNG terminal and its integrated pipeline in northeast Brazil. Petrobras said on Monday that the start of the terminal lease process began following an agreement signed with the Administrative Council for Economic Defense. According to the company, the prequalification procedure of

Exclusive: Failed Exxon talks left Petrobras stranded for auctions – sources

November 8, 2019

Reuters As the weeks ticked down to Brazil’s biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp (XOM.N) pulled out days before, according to six people familiar with the matter. While many firms were far from ready to take on enormous signing fees and investments, Exxon

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