Wednesday, November 21, 2018

Petroleo Brasileiro Sa News

Petrobras Output in Campos Drops to Lowest Level in 17 Years

(File photo courtesy MODEC)

Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline…

Petrobras Starts Production at P-75 Platform

(Photo: Petrobras)

The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2 area of the pre-salt Santos Basin, Brazil's state-run Petroleo Brasileiro SA (Petrobras)…

Petrobras Resubmits Agreement with CNPC

State-controlled oil company Petroleo Brasileiro SA said in a document resubmitted on Tuesday to Brazil's securities regulator it has signed an agreement with China National Petroleum Corp to study the economic viability of completing construction of

Shell, Petrobras Units Probed for Brazil Price-Fixing

Brazil's three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in…

Bolsonaro Approached Castello Branco About Being Petrobras CEO

Brazilian President-elect Jair Bolsonaro's team approached Roberto Castello Branco, a former board member at state-controlled Petroleo Brasileiro SA (Petrobras), about the possibility of his becoming its new chief executive…

Petrobras to Appeal Dutch Ruling Favorable to Vantage Drilling

Brazil's state-run oil company Petroleo Brasileiro SA said on Wednesday it will appeal an unfavorable Dutch court ruling related to the suspension of a drilling contract with U.S.-based Vantage Drilling…

SBM Offshore to Pay Additional Fines to Petrobras

(File photo: SBM Offshore)

SBM Offshore has reached a settlement to pay additional leniency fines of 200 million reais ($48.27 million) to Brazil's state oil company Petroleo Brasileiro SA, Brazilian prosecutors said on Wednesday.As…

Castello Branco Named Petrobras CEO

© Celso Pupo / Adobe Stock

Brazil's incoming far-right government on Monday tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA…

Brazil Court Blocks $892.7 mln from SBM Related to Petrobras Contracts

A Brazilian federal court ruled that state-run oil company Petroleo Brasileiro SA can subtract $892.7 million it owes in future fees to Dutch group SBM to cover fines and damages it has been ordered to pay Petrobras for its role in a graft scheme, ac

Petrobras Oil, Gas Output Falls in August

© Ranimiro / Adobe Stock

Brazil's state-run oil company Petroleo Brasileiro SA said its oil and gas production in August totaled 2.47 million barrels of oil equivalent per day, attributing the 5.1 percent decline from the previous month to closures for maintenance.Petrobras,

Petrobras to Resume Building Its Own Platforms

(Photo: Petrobras)

Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan…

Petrobras Forms JV with Murphy in Gulf of Mexico

Brazil's state-controlled oil company Petroleo Brasileiro SA is forming a joint venture with Murphy Oil Company to explore oil and gas fields in the Gulf of Mexico, the Brazilian company said on Wednesday…

Petrogal to Invest Up to $1 bln per Year in Brazil -CEO

Petrogal, the Brazilian unit of Portugal's Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore…

Brazil Calls Oil Auction, Seeks to Export Oil in a Year

File Image: CREDIT Adobestock / 
 © Mike Mareen

Brazil's government will seek to sell 14.4 million barrels of oil cargo this month, while the state company managing the development of the pre-salt oil exploration aims to export its own oil in a year's time…

Brazil Regulator Approves Diesel Subsidy Payment to Petrobras

Brazilian oil regulator ANP said on Thursday it has approved a diesel subsidy payment to state-run oil company Petroleo Brasileiro SA of 1.04 billion reais ($277 million).ANP also said in a statement that it had denied diesel subsidy payments to Petr

Petrobras Earnings Miss Forecasts

© dabldy / Adobe Stock

Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…

Petrobras CEO Not Expected to Stay On

Brazil's right-wing President-elect Jair Bolsonaro said on Wednesday that the chief executive of state-controlled oil company Petroleo Brasileiro SA, Ivan Monteiro, is not expected to stay on during the new administration.Speaking to reporters…

Brazil's Cosan Eying Refining Partnership with Petrobras

Brazil's Cosan SA Indústria e Comércio, a leading ethanol producer and fuel distributor, is interested in refining partnerships with oil company Petroleo Brasileiro SA, its chairman Rubens Ometto said…

Petrobras, Engie Unlikely to End TAG Talks Before Feb -Engie CEO

Talks between Brazil's Petroleo Brasileiro SA and France's Engie over the latter's acquisition of pipeline company TAG are not expected to end before February or March of next year, the chief executive…

Petrobras Sells Stake in Africa Unit

(Photo: Petrobras)

Brazil's Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company's debt reduction drive…