Thursday, October 18, 2018

Statecontrolled Oil News

What Saudi Arabia Does Now is Key for Global Crude Markets: Russell

File Image (CREDIT: AdobeStock / © Jose Gill)

If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do? The Saudis appear to have emerged…

Petrobras Prepays $975 Mln Worth of Bank Debt

Brazilian Petróleo Brasileiro SA has settled three bank loans worth a total of $975 million that were due 2022, the state-controlled oil company said in a securities filing on Monday.Petrobras, as the company is known, paid $325 million to

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…

Vantage Drilling wins $622 mln Settlement against Petrobras

Brazil's state-controlled oil company Petrobras has been fined $622 million by an international tribunal for breaching a 2009 contract with a unit of Vantage Drilling, the U.S.-based rig contactor said on Monday.

Petrobras to Start Up Four New Platforms in Q4

© Rafael Silva / MarineTraffic.com

Brazil's state-controlled oil company Petrobras will start pumping pre-salt oil from four new platforms between October and December, the company's director for production and technology development…

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…

Petrobras Repays 2 Bln Real Loan, Opens Fresh Credit Line

Brazil's state-controlled oil company Petroleo Brasileiro said on Friday it prepaid a 2 billion real ($516.13 million) loan due in 2020 from Banco do Brasil, and opened a new credit line for the same amount with the same bank due in 2025.Th

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…

Petrobras Sees Lower 2018 Net Debt, Ups Free Cash Flow

Brazilian state-controlled oil company Petróleo Brasileiro SA on Monday cut its 2018 net debt target to $69 billion from $85 billion in 2017, according to a presentation to investors.Petrobras…

Petrobras Settles Taxes Owed for Vessel Leasing Contracts

Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Monday it adhered to a federal tax refinancing program to settle taxes owed on vessel leasing contracts. Petrobras, as the company is known…

Petrobras Making 'Interesting Discoveries' in Campos Basin -CEO

Brazil's state-controlled oil company Petroleo Brasileiro SA is making 'interesting discoveries' in blocs at the Campos basin, off the Rio de Janeiro coast, where it is drilling deeper to reach the pre-salt layer…

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.

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.

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 Chief: U.S. Refinery Sale Ongoing

File Image (CREDIT: AdobeStock / (c) Sharrif Che'Lah)

Brazil's Petrobras is continuing with its efforts to sell a Pasadena, Texas oil refinery and has no plans to build another plant, the company's chief executive said on Monday. Pedro Parente, chief executive of the state-controlled oil firm…

Ex-Petrobras CEO Bendine Convicted of Corruption in Brazil

Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison.

Petrobras Secures $606 mln Credit Line from Banco do Brasil

Brazilian state-controlled oil company Petróleo Brasileiro SA said on Monday it has hired a 2 billion real ($606 million) credit line from state lender Banco do Brasil SA expiring in Feb. 2023.

Petrobras to Reach Net Debt Goal This Year-CEO

Photo: Petrobras

Brazil's state-controlled oil company Petroleo Brasileiro should at a minimum reach a net debt goal of 2.5 times earnings before interest, tax, depreciation and amortization this year, the company's…

Petrobras to Pre-pay $1.4 Bln in Bonds Maturing in 2020

Brazilian state-controlled oil company Petroleo Brasileiro SA said on Wednesday it would prepay $1.4 billion worth in bonds maturing in 2020, with coupons of 5.75 percent and 4.875 percent. The amount will be paid on May 3…

Asset Sales Help Boost Petrobras Q1 Profit

File photo: MODEC

Brazil's state-controlled oil company Petróleo Brasileiro SA reported a 56.5 percent rise in net profit in the first quarter, helped by asset sales, a filing showed on Tuesday.Petrobras, as the company is known, posted a net profit of 6.961