PBR - Petróleo Brasileiro S.A. - Petrobras

UPDATE 1-Brazil's Bolsonaro wants to privatize Petrobras by end of his term -report

The economic team of Brazilian President Jair Bolsonaro wants to privatize state-controlled oil company Petroleo Brasileiro SA before the end of his term in 2022, Brazilian newspaper Valor Economico reported on its website on Wednesday, citing anonymous sources. The report also cites a speech by Economy Minister Paulo Guedes at an event hosted by Valor. "There are big guys thinking they won't be privatized, but we will get there," Guedes is reported as saying.

Brazil's Petrobras received three binding offers for LPG unit- sources

Brazil's Petrobras plans to sell 15 of the 26 power plants next year- exec

Brazil's Petrobras expects high growth in natural gas business- exec

Petrobras CEO says more than 20 groups interested in buying refineries

More than 20 potential bidders are interested in the refineries that Brazil's state-controlled oil company Petroleo Brasileiro SA plans to sell, the company's chief executive officer said on Tuesday. CEO Roberto Castello Branco said more than 20 groups are interested in the four refineries in a first phase of privatizations. Two are in the northeastern states of Pernambuco and Bahia, and two are in the southern states of Parana and Rio Grande do Sul.

UPDATE 1-Petrobras delays delivery of bids for LPG unit to next week -source

Brazil's state-controlled oil company Petroleo Brasileiro SA has delayed until next week the delivery of binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, a source with direct knowledge of the matter told Reuters. Petrobras, as the firm is known, decided to delay the offers after interested parties asked for more time to conduct due diligence on the unit, said the source, who requested anonymity as the matter is private. Liquigas is one of dozens of assets Petrobras has put up for sale in a massive divestment drive aimed at reducing debt and sharpening the company's focus on deepwater oil exploration and production.

Brazil's Petrobras sells off $320 mln hedge position as crude falls

Brazil's Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part to divestments. Petrobras, as the state-run company is known, said in March it was spending $320 million on put options, hedging part of its output at $60 per barrel. Petrobras said the options expired at year-end.

Brazil's Braskem reports 76% drop in Q2 profit

Braskem suffered a sharp fall in second-quarter net income due to slower demand in Europe and Mexico, and the freezing of funds to pay for environmental damages in Alagoas state. Latin America's biggest petrochemical company on Wednesday reported net income of 129 million reais ($32.5 million), down 76% from a year ago despite good results in Brazil and the United States. The company said in a securities filing that its U.S. petrochemical plants performed better and it enjoyed higher sales of chemicals in the Brazilian market, while spreads for chemicals remained high internationally.

Could This Be A Turning Point For Petrobras?

Brazil’s Petrobras is making some dramatic moves to raise the company’s bottom line and increase cash flow, but will its efforts pay off?

Brazil's Petrobras studies sale of power plants, CEO tells brokerage

Brazil's state-controlled oil company Petroleo Brasileiro SA is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday. Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote the report to clients after a breakfast with Chief Executive Officer Roberto Castello Branco. The analysts also said in the report that Petrobras, as the firm is known, is considering partnering with oil firms present in Brazil's so-called pre-salt offshore oil region to create a company composed of gas pipelines coming from the off-shore exploration areas.

Asset Sales Drive Petrobras To Highest Ever Quarterly Profit

Brazil’s state oil and gas major Petrobras, once the company with the biggest debt pile in the global oil and gas industry, booked the highest quarterly profit on record for the second quarter of 2019 on the back of asset sales

EMERGING MARKETS-Brazil's real hits 6-week low as trade tensions intensify

* Petrobras posts its highest-ever quarterly profit * Latin American currencies suffer worst day in 2019 * Brazil's real weakens to lowest level in six weeks (Updates prices, adds analyst comment) By Sruthi Shankar Aug 2 (Reuters) - Brazil's real hit a six-week low on Friday, leading losses among Latin American currencies as an escalation in U.S.-China trade tensions turned investors risk-averse, although upbeat production numbers from oil firm Petrobras lifted Sao Paulo- listed shares. The MSCI index of Latin American currencies extended its slide for a second day and was on course to post its worst week of 2019 after U.S. President Donald Trump on Thursday vowed to hike tariffs on Chinese imports starting on Sept. 1, prompting retaliation from Beijing.

UPDATE 2-Brazil's Petrobras reports long-awaited production boost

Brazilian state-run oil company Petroleo Brasileiro SA, or Petrobras, posted a long-awaited production boost in July after a disappointing June, as it ramped up production in the promising offshore "pre-salt" region. In a presentation to discuss quarterly results, Petrobras said it produced 2.76 million barrels of oil equivalent per day (boepd) in the month, up from 2.633 million in the second quarter. Last week, Petrobras posted lackluster second-quarter production figures and cut its 2019 guidance to 2.7 million boepd from 2.8 million, disappointing investors hungry for a long-promised production boost.

EMERGING MARKETS-Latam forex falls as investors avoid riskier assets on trade fears

* Petrobras posts its highest ever quarterly profit * Latin American currencies worst day in 2019 * EM stocks on biggest slide since December 2015 By Agamoni Ghosh Aug 2 (Reuters) - Latin American currencies fell on Friday as U.S.-China trade tensions pulled investors away from riskier assets, but a smashing quarter from Brazilian state-run oil firm Petrobras helped Brazil stocks outperform regional indices. U.S. President Donald Trump vowed to hike tariffs on Chinese imports starting on Sept. 1 on Thursday, a day after negotiators from both countries concluded a meeting in Shanghai without significant signs of progress to end a trade war. Emerging market assets, already reeling from the U.S. Federal Reserve's hawkish rate-cut outlook earlier this week, fell to near two-month lows, with Latin American currencies on course to post their worst week for 2019.

Brazil's Petrobras reports a production boost in July

UPDATE 2-Brazil's Petrobras posts highest-ever quarterly profit, boosted by asset sales

Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales. In a securities filing, Petrobras, as the firm is commonly known, said second quarter net profit came to 18.87 billion reais ($4.92 billion). Adjusted for non-recurring items, net income would have come to 5.2 billion reais, Chief Executive Roberto Castello Branco said in written remarks accompanying the results.