Friday, February 23, 2018

Petrobras News

Petrobras' January Output Slips on Maintenance, Sale

File Image (CREDIT: AdobeStock / (c) ggw)

Petroleo Brasileiro S.A. produced 2.1 million barrels of oil per day (bpd) in January, 1 percent below December's levels, due to maintenance and an asset sale, Brazil's state-run oil company said on Wednesday. Petrobras, as the company is known, said the fall…

Petrobras to Sell Pasadena Refinery in the US

Brazil's state-controlled oil company, Petróleo Brasileiro SA, said on Tuesday it had started taking steps to sell its refinery in Pasadena, Texas, an installation ensnared in Brazil's largest corruption scandal. Petrobras, as the company is known, said its U.S.

Petrobras CEO Sees Few Board Changes This Year

Brazilian state-controlled oil company Petroleo Brasileiro SA's board of directors should change little this year, Chief Executive Officer Pedro Parente said on Monday, amid meetings with government officials in Brasilia on the subject. "It was a visit to clarify that basically we would be renewing the board…

Petrobras Working on New Contracts for Gas, Diesel Distributors

Brazilian state-controlled oil company Petroleo Brasileiro SA said on Monday it is working on a new contract model for gasoline and diesel distributors in a bid to recover market share that has was lost to competition from importers. "With the new contract model for gasoline and diesel oil in the pipeline…

Transocean Upbeat About Offshore Recovery, Despite Quarterly Loss

File photo: Transocean

Drilling contractor Transocean Ltd on Wednesday expressed optimism about a recovery in offshore drilling activity this year, despite reporting its third quarterly loss in a row. Companies that provide services and equipment for oil and gas exploration and production…

Excision of Gaspetro

Participation in Distribution Courtesy  Gaspetro3

Petrobras announces that its Board of Directors at a meeting held today, aprobola split of Petrobras Gás SA (Gaspetro). This split aims to segregate the assets and liabilities related to the business of distribution of natural gas from the other assets and liabilities of the company…

Mero Field to Produce 40,000 bpd by End of Feb

Brazil's Mero field in the offshore Libra area should begin producing 40,000 barrels of oil per day by the end of February as part of a long duration test, an official at state-controlled oil company Petroleo Brasileiro said on Friday. Fernando Borges, Petrobras' manager for Libra…

Petrobras Faces $1.6 Billion in Graft Penalties

U.S. Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters. State-run Petroleo Brasileiro SA…

Petrobras Fetches $490 mln with Gas Unit Stake to Mitsui

Petrobras

State-controlled Petróleo Brasileiro SA's board approved selling a minority stake in a natural gas distribution unit to Japan's Mitsui & Co Ltd for 1.9 billion reais ($490 million) in a key step toward disposing of non-essential assets to repay debt. Petrobras…

Petrobras Probe Finds Corruption, One Exec Fired

Photo: Petrobras

Brazil's state-run oil company, Petrobras, has fired one executive for corruption and identified about 15 other employees involved in irregular contracts with suppliers, a source familiar with the situation said on Wednesday. Partial results of a continuing…

Brazil Fuel Prices Face Little Pressure from Cheap Imports

Brazil's gasoline and diesel prices, which are well above international levels thanks to plunging world crude costs, face little pressure from imports thanks to limited storage and transport capacity and state-run Petrobras' dominance of the local market, industry sources said.

Bolivian Natural Gas Imports to the Brazilian Market

Petrobras announces that it entered into an agreement with YPFB, in accordance with its negotiation agenda, aimed at resolving differences as to the performance of the Bolivian natural gas import contract (Gas Supply Agreement - GSA) to the Brazilian market.

Worst Petrobras Strike in 20 Years Endangers Debt Plan

A four-day strike against Petrobras gathered steam on Wednesday, cutting crude and natural gas output from the No. 2 South American oil producer and threatening to become the most disruptive walkout at the state-run oil company in 20 years. Petroleo Brasileiro SA…

Petrobras Sought Arbitration for Sete Brasil talks, Sources Say

State-controlled Petróleo Brasileiro SA unsuccesfully sought the appointment of arbiters to rework a long-term contract with debt-laden drilling rig leaser Sete Brasil Participações SA, according to three sources with knowledge of the situation. The proposal…

Corruption Charges Ends Petrobras Contract with Ensco

Rig contractor Ensco Plc said Petrobras has declared void a contract for a drillship leased to the Brazilian oil producer. Petroleo Brasileiro SA, or Petrobras, chartered the DS-5 in 2008, when it was owned by Pride International, a company bought by Ensco in 2011.

Torres Junior Quits Petrobras Board

Petrobras

Petrobras announced that Mr. Clovis Torres Junior resigned for personal reasons, from both his positions as a board member of Petrobras and as a chairman of Petrobras Distribuidora S.A (BR). Mr. Clovis Torres Junior was the alternate of Mr. Murilo Pinto de…

Petrobras: Motion to Dismiss U.S. Lawsuit Denied

Brazil's state-run oil producer Petroleo Brasileiro SA, known as Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Petrobras said part of the complaint against…

Petrobras Sells its Interest in Transierra

Petrobras announced that it has sold its 44.5% stake in Transierra S.A. to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) for $106.7 million. According to Petrobras, this operation is aligned with the company’s strategic plan and complies with Law466 of…

Petrobras Writedown Could Bolster Class-Action Suit

Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors…

Petrobras Union 24-hour Strike Fights Asset Sales, Oil Bill

Brazilian oil workers began a 24-hour strike on Friday in an effort to stop efforts to shrink state-run oil company Petroleo Brasileiro SA, or Petrobras, according to the main union representing the workers. FUP, the country's largest oil workers union federation…