15.93 +0.05 (0.31%)
After hours: 4:53PM EDT
|Bid||15.88 x 1000|
|Ask||0.00 x 4000|
|Day's Range||15.65 - 16.05|
|52 Week Range||9.02 - 17.90|
|Beta (3Y Monthly)||0.96|
|PE Ratio (TTM)||21.63|
|Forward Dividend & Yield||0.10 (0.65%)|
|1y Target Est||17.77|
Brazil's government and oil company Petrobras have "practically agreed" on the value of a multi-billion-dollar payment to the oil firm to settle the "transfer-of-rights" dispute, a source with direct knowledge of the matter told Reuters.
Brazil's Petroleo Brasileiro SA has scheduled a shareholders meeting for April 25 to approve the new composition of the company's board and its 2019 budget, among other measures, the state-run oil firm said on Monday. Shareholders in Petrobras, as the company is known, will deliberate on the 54.7 billion reais ($14.1 billion) in planned expenditures in 2019, 47.788 billion reais of which will be dedicated to exploration and production, the company said in a statement. The firm's 2019 budget is part of its 2019 to 2023 business plan, released in December.
Brazil's oil major has clawed its way back to a $100 billion market cap. Should individual investors be as confident as Wall Street?
Latin America’s most well-known corporate borrowers are increasingly tapping the bank loan market for low-cost funding, finding an international lender base hungry to deploy capital and grow their dollar exposure to the region. Banks active in lending to Latin American corporates including oil producer Petróleo Brasileiro (Petrobras) and pulp and paper exporter Suzano Papel e Celulose are resorting to aggressive pricing strategies this quarter as competition has increased for the limited available supply. Deal-starved international financial institutions are hamstrung by the lack of dollar-denominated transactions in Latin America when compared to volumes in developed markets such as the US or Europe.
Brazilian conglomerate Odebrecht SA's efforts to sell petrochemical maker Braskem SA to LyondellBasell Industries NV may take months longer than expected because of issues linked to a delayed U.S. filing and a supply contract, three sources with knowledge of the matter said. The talks to sell Odebrecht's controlling stake are the first step in an $11 billion deal Lyondell aims to complete to create the world's largest petrochemical company and would also involve state oil company Petroleo Brasileiros SA, Braskem's other big shareholder. Lyondell will only be able to extend the offer to Petrobras, which owns a 36 percent stake in Braskem, once Odebrecht agrees to a deal.
The Offer expired at 5:00 p.m., New York City time, on March 18, 2019 (the "Expiration Date"), and is expected to settle today, March 21, 2019 (the "Settlement Date"). All conditions to the consummation of the Offer were satisfied by the Settlement Date. The table below sets forth the aggregate principal amount of Notes validly tendered in the Offer or validly delivered through guaranteed delivery procedures, that PGF accepted for purchase, as well as the consideration payable for such Notes.
Brazil's state owned oil company Petroleo Brasileiro SA is reevaluating a partnership with the China National Petroleum Corporation to build a refinery in Rio de Janeiro state, newspaper Valor Economico ...
Chevron Stock Rises, Commands Premium Valuations(Continued from Prior Part)Short interest in ChevronThe short interest or percentage of outstanding shares in Chevron (CVX) has fallen from 1.12% on January 2 to the current level of 0.83%. Usually, a
RIO DE JANEIRO/SAO PAULO (Reuters) - Warburg Pincus-backed firm Trident Energy is in exclusive talks with Petroleo Brasileiro SA to acquire a pair of Brazilian oil clusters, two sources with knowledge of the matter said this week, as the state-run company known as Petrobras moves to revive the sale effort. Petrobras had agreed in July to enter into exclusive talks with Ouro Preto Oleo e Gas, a Brazilian energy company backed by private equity firm EIG Global Energy Partners, to sell its Pampo and Enchova shallow water oil clusters off the coast of Rio de Janeiro. Petrobras has since entered exclusive talks with Trident Energy, which had bid for the fields in 2018 but did not enter into direct talks with Petrobras because its offer was below Ouro Preto's offer, according to the sources.
Apart from putting an end to the 'transfer-of-rights' dispute, the $10 billion payment from the Brazilian government would help Petrobras (PBR) trim its debt levels to a considerable extent.
Brazil’s government anticipates that companies seeking to join in deep-water oil projects would need to pay Petrobras more than $9 billion, said the people, who asked not to be named because the information hasn’t been made public. Petrobras shares rose 1.6 percent to 29.20 reais in Sao Paulo on Tuesday, their highest close since August 2010. Brazil and Petroleo Brasileiro SA plan to reach an agreement by the end of this month on the government’s compensation.
The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms. Valor in January had reported that the government had agreed on the higher figure, but the government subsequently denied the report. Petrobras, as the firm is widely known, did not respond to a request for comment.
Transocean (RIG) secured contracts for two of its drillships, namely Mykonos and Corcovado, which were acquired as part of Ocean Rig buyout in December 2018.
NEW YORK, March 19- Oil producers in Canada have jumped on an opportunity to lock in revenues for 2019 and 2020 as average crude futures for those years have soared over 20 percent to their highest levels this year, sources familiar with the deals said. Brazil's state-run oil giant Petróleo Brasileiro SA was also executing a part of its annual oil hedge last week,...
Brazilian independent oil company PetroReconcavo has entered direct negotiations with state-run Petroleo Brasileiro SA to purchase a cluster of 34 oilfields in the nation's northeast, two oil industry sources told Reuters. Petrobras, as the state-owned company is known, entered talks with the unlisted Salvador, Brazil-based company after upstart 3R Petroleum failed to receive financing for its $453 million purchase of the fields, which was announced in late November, said the sources, who requested anonymity because they were not authorized to discuss internal matters. The sources said the $453 million bid was considered aggressive, and PetroReconcavo will probably offer less for the fields in the state of Rio Grande do Norte, collectively known as Riacho da Forquilha.
RIO DE JANEIRO, March 19, 2019 /PRNewswire/ -- Petróleo Brasileiro S.A. – Petrobras ("Petrobras") (PBR) today announced the expiration and expiration date results of the previously announced offer to purchase (the "Offer") by its wholly-owned subsidiary Petrobras Global Finance B.V. ("PGF"), of any and all of its outstanding notes set forth in the table below (the "Notes"). The Offer was made pursuant to the terms and conditions set forth in the offer to purchase dated March 12, 2019 (the "Offer to Purchase" and, together with the accompanying notice of guaranteed delivery and related letter of transmittal, the "Offer Documents"). The table below sets forth the aggregate principal amount of Notes validly tendered in the Offer and not validly withdrawn, and the aggregate principal amount of Notes reflected in notices of guaranteed delivery delivered, at or prior to the Expiration Date and the consideration payable for Notes accepted for purchase in the Offer.
Petrobras' (PBR) committed efforts to improve production, liquidity and operational efficiency, along with its ambitious five-year plans make us optimistic of the stock.
Higher Oil Prices Have Boosted BP Stock 10% in Q1(Continued from Prior Part)Short interest in BPIn the previous article, we reviewed changes in institutional holdings in BP (BP) stock. Now let’s look at changes in its short interest.Short
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
The Zacks Analyst Blog Highlights: NextEra, T-Mobile, Petrobras, Keurig Dr Pepper and United Continental
On the first round of bids, Sydney-based Macquarie led a group with Canada Pension Plan Investment Board, GIC Private Ltd. and Itausa - Investimentos Itau SA, people said at the time. Now, GIC, Itausa and CPPIB are expected to bid without Macquarie, the people said, asking not to be named because the discussions are private.
Higher Oil Prices Have Boosted BP Stock 10% in Q1(Continued from Prior Part)Series so farBP (BP) stock has risen due to better oil prices and stronger markets in the first quarter, affecting its 50-day moving average, which has moved closer to its