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
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
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
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
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
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
Source: Reuters RIO DE JANEIRO (Reuters) – Oil slicks washing up on beaches along more than 2,000 kilometers (1,240 miles) of Brazil’s northeast coastline could be the worst environmental “attack” in the country’s history, the chief executive of state-run oil giant Petrobras said on Tuesday. Speaking at an event in Rio de Janeiro, Roberto Castello Branco said Petrobras continues to
Source: Reuters RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in
Reuters RIO DE JANEIRO (Reuters) – Investors cheered a significant cut in production costs at Brazil’s state-run oil firm Petrobras on Friday, sending shares in the company soaring 4% in morning trade, their biggest intraday gain in more than a month. In its third-quarter results released on Thursday night, the company said production costs in a key offshore oil area
Reuters SAO PAULO (Reuters) – Brazilian fuel distributor Petrobras Distribuidora SA is considering creating energy trading units as it seeks to reposition itself after its privatization last July, Brazilian newspaper Valor Economico reported on Thursday. The company is considering creating ethanol, electricity and natural gas trading businesses, Rafael Grisolia, BR Distribuidora’s chief executive, told the Thursday edition of Valor
Source: Reuters RIO DE JANEIRO (Reuters) – Brazil’s Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR – the ‘transfer-of-rights’ area. The bidders who win exploration and production rights in the massive Nov. 6
From Reuters Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part to divestments. Petrobras, as the state-run company is known, said in March it was spending $320 million on put options,
