Tuesday, December 12, 2017

Petrobras News

Petrobras to Revise LPG Pricing

Brazil's state-controlled oil company Petróleo Brasileiro SA will review its pricing policy for liquefied petroleum gas (LPG), after a 70 percent price spike since June for the fuel which is widely used by Brazilians for cooking. Petrobras said the 8.9 percent…

BSEE, USCG Investigating GoM Rig Fatality

(Image: BSEE)

The Bureau of Safety and Environmental Enforcement (BSEE) and U.S. Coast Guard (USCG) are investigating the fatality of a worker on board the Petrobras 10,000 drillship in the Gulf of Mexico. Petrobras America Inc. reported the fatality on board the Transocean Ltd. owned drillship at about 4:45 a.m., December 2, 2017.

Petrobras to Receive about $200 Mln from Corruption Repayments

Brazilian state oil company Petroleo Brasileiro SA will receive about 650 million reais ($201 million) in funds recovered from the country's largest-ever corruption investigation, known as Car Wash, the federal prosecutors office for the state of Paraná said on Tuesday.

First Libra Pre-salt Oil Shipment Likely in Early January

Petróleo Brasileiro SA is likely to begin shipping oil from the Libra pre-salt area early in January, an executive at the Brazilian state-controlled oil company said on Friday. Operations at Libra kicked off this week with an output of around 17,500 barrels of oil per day (bpd)…

Catcher FPSO to Add about $200 mln in EBITDA/year

BW Catcher FPSO (Photo: BW Offshore)

BW Offshore CEO Carl Arnet in FPSO (floating production, storage and offloading) firm BW Offshore Ltd says the Catcher field project in the British North Sea will add about $200 mln in annual EBITDA to its results when it comes on stream in December 2017. ** BW is also developing Dussafu field in Gabon.

SBM Offshore to Pay $238 Mln in US Bribery Case

SBM Offshore NV, a Netherlands-based maker of offshore oil drilling equipment, and its U.S. subsidiary, SBM Offshore USA Inc, agreed to settle criminal charges of bribing officials in five countries and pay a $238 million penalty, the U.S. Justice Department said on Wednesday.

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…

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


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…

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.

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…

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…

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…

Torres Junior Quits Petrobras Board


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…

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.

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…