Mexico Unveils Pemex Business Plan
Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade.Octavio Romero, CEO of Petroleos Mexicanos…
Petrobras to Sell Natural Gas Assets
Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday.Petrobras, as the company is commonly known, said it had pledged to sell stakes in pi
Floater Sector Active Despite Market Volatility
Activity in the floating production sector has not been slowed by the recent volatility seen across global oil markets, according to a recent report by World Energy Reports (WER).Brent oil, which had reached as high as the mid $70 range earlier this year, fell…
Petrobras Sells TAG, Gets $8.7 bln
Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).According to a stock exchange annoucement…
Bids for Petrobras' Shallow Water Fields Surpass $1 Bln
Brazilian state-run oil firm Petroleo Brasileiro SA said on Thursday it received final proposals for shallow water fields Polos Enchova and Pampo that surpass $1 billion in value, according to a securities filing.The transaction is still subject to internal approvals, the company said, adding the bids were received on
Petrobras Eyes $9 Bln Transfer-of-rights Addendum
Brazil's state-run oil company Petrobras said on Tuesday its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion, but the deal remains subject to governmental agreement.Approval depends on the publication of a Ministry of Mines and Energy
Brazil Sets Parameters for Mega Oil Auction
Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector.The country…
Natural Gas Liquid Market to Cross 14 mbl/day by 2025
Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s…
TechnipFMC Orders Vallourec Pipes for Mero 1
The provider tubular solutions for the energy markets Vallourec Soluçoes Tubulares do Brasil has been awarded by TechnipFMC in Brazil to supply around 12,000 tons of seamless steel rigid line pipe with outside diameters 8” and 10”.The pipe will be used in the…
Brazil Government to Pay Petrobras $9 Bln
The Brazilian government reached a landmark deal to pay state-controlled oil company Petróleo Brasileiro SA $9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said on Tuesday.Albuquerque told reporters after a meeting…
Swiss, Brazil Try to Unravel Petrobras Affair
Crimefighters in Switzerland and Brazil pledged to intensify cooperation to resolve the sprawling corruption case linked to state oil firm Petrobras in which around 700 million Swiss francs ($701 million) remain frozen in Switzerland.Switzerland has so far…
Petrobras to Sell Pipeline Unit for $9 Bln
Brazilian state-run oil company Petroleo Brasileiro SA has agreed to sell its TAG natural gas pipeline unit to a consortium led by France's Engie SA for roughly $9 billion, Bloomberg News reported on Friday, citing a source.The Engie consortium, which also includes Canada's Caisse de Dépôt e Placement du Québec…
Petrobras Takes Two of Six Port Terminals in Brazil Auction
Brazil auctioned off six port terminals for liquid fuels in the northern state of Para to private operators on Friday, with subsidiaries of state-run oil company Petroleo Brasileiro SA winning two of the areas.The government raised nearly 450 million reais ($117 million) in the auction of the terminals — five in the Mi
Petrobras to Bid in Israeli Gas Tender
Israel's energy minister said on Sunday that Brazilian state-run oil firm Petrobras will take part in a tender to explore for oil and gas off Israel's shore, Reuters reports."It was agreed that Petrobras ... will take part in a process of oil and gas exploration in Israel…
Petrobras, Açu Petróleo Sign for Ship to Ship Operation in Port of Açu
Petrobras and Açu Petróleo (a partnership of Prumo Logística and Oiltanking) signed a contract to carry out ship to ship operations at the company's Petroleum Terminal (T-OIL), located in the Complex of Port of Açu, in the north of the state of Rio de Janeiro.The…
Brazil, Petrobras Paving Way for Giant Tender
Brazil's government will announce "within days" a deal with state-run oil company Petrobras to settle a multi-billion-dollar contract dispute and clear the way to auction billions of barrels of oil off of the Brazilian coast, a minister said on Monday.Economy…
Brazil Likely to Pay Petrobras $10 Bln
The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms.The financial daily…
Petrobras Names Former Vale Exec as CFO
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, named Andrea Marques de Almeida, an engineer and former executive at mining company Vale SA, as its new chief financial officer, according to a securities filing.Andrea Almeida will replace Rafael Salvador Grisolia…
Petrobras P-77 FPSO Starts Production
Brazil's state-run oil company Petroleo Brasileiro SA said on Tuesday it had started production at its P-77 platform, its fourth platform to enter operations in the Buzios field within the pre-salt region of Bacia de Santos.Petrobras, as the company is known…
Petrobras Prices $3 Bln in Bonds
Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.Petrobras, as the state-run company is known…
