Sunday, July 15, 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…

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.

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…

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 Portfolio has $47 bln in Potential Divestments

Brazil's state-controlled oil company Petroleo Brasileiro SA has a portfolio of potential divestments worth $47 billion, Chief Executive Pedro Parente said on Thursday. Petrobras' operating costs…

Petrobras to Settle U.S. Class Action over Corruption

Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption scandal.

Petrobras: Fire Contained on Platform in Lula Field

File photo: P-66 FPSO sailing to its final destination (Courtesy Petrobras)

Brazil's state-controlled oil company Petróleo Brasileiro said on Tuesday a fire at a platform in the Santos Basin was contained and did not cause injuries or environmental damage. Production there…

Petrobras to Join Oil and Gas Climate Initiative

Brazilian state-controlled oil company Petróleo Brasileiro SA will join the Oil and Gas Climate Initiative (OGCI), becoming the 10th member of the group which aims to lead the industry's response to climate change.

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.

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

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