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Brazil's state-controlled oil company Petróleo Brasileiro SA said that areas it operates adjacent to the Entorno de Sapinhoá block in the Santos basin are commercially viable, according to a securities ...
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 Hugo Repsold said on Wednesday. Speaking to reporters at an oil industry event, he said Petrobras could study building its own platforms after 2022 and predicted the company would head towards sustainable growth of oil production in the next few years. Repsold said Petrobras was well on the road to recovery and was starting up platforms that had been delayed in recent years and which will now ensure continued growth in output.
Brazilian state-run oil company Petroleo Brasileiro SA opened the path to a future sale of its Transpetro SA shipping and pipeline unit via a by-law change approved at a June shareholders' meeting, a paper reported on Wednesday. Under the by-law change, first reported by Brazilian paper Valor Economico, Petrobras, as the company is commonly known, may now sell over 50 percent of the subsidiary, a move that would have been prohibited previously. Petrobras did not immediately respond to a request for comment on Wednesday.
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, according to company data. Output has dropped 15.8 percent in 12 months due to the ageing of fields off-shore from Rio de Janeiro and Espirito Santo that account for almost half of the crude pumped by Petrobras. Petrobras has looked at creative ways to handle mature fields by either selling them or entering partnerships to boost recovery efforts.
Brazilian state-owned oil company Petroleo Brasileiro SA has named a former state development bank executive to fill a vacancy on its board of directors, according to a securities filing on Wednesday. ...
An executive at Brazil's Petroleo Brasileiro SA said the state-run oil company could form a company with France's Total to explore renewable energy business options, adding that the companies could jointly ...
State-controlled oil company Petróleo Brasileiro SA has signed a nonbinding agreement with France's Total SA and its renewable energy arm to assess potential businesses in onshore solar and wind power ...
Brazil's state-run oil company Petróleo Brasileiro SA has lifted restrictions on doing business with certain units of the engineering firm Odebrecht SA, Petrobras said in a securities filing on Friday. Petrobras' board of directors approved the measure at a board meeting on Thursday, the filing said. Odebrecht has been at the center of a major global corruption investigation, involving numerous other firms that paid billions of dollars in bribes to win contracts with Petrobras in the last two decades.
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 ...
Petroleo Brasileiro (PBR) is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
Dutch marine engineering group SBM Offshore (SBMO.AS) said on Thursday a Brazilian court had ordered Petrobras (PETR4.SA) to provisionally withhold some payments to SBM to ensure the Dutch company pays whatever penalties it may receive in a corruption case. SBM shares fell more than 8 percent in early Amsterdam trade, wiping out gains made on Wednesday, when it announced a new floating production vessel contract with Exxon Mobil (XOM.N). SBM said judges at the federal court in Rio de Janeiro asked Petrobras and SBM to submit further information before deciding a monthly amount to withhold from payments for work SBM does as a contractor for Petrobras.
The lower house of Brazil's Congress approved on Wednesday the bill regulating the transfer of rights area. The bill allows state-controlled oil company Petroleo Brasileiro SA to cede to other companies ...
Brazil's state-run oil company Petroleo Brasileiro SA and China National Petroleum Corp (CNPC) took another step on Wednesday in negotiations that could give the Chinese their first refining capacity in the Americas. The companies announced in a Brazilian securities filing that they had signed a letter of intent advancing talks for a partnership to finish the Comperj refinery near Rio de Janeiro and a "participation" of CNPC in the offshore Marlim oil field. The joint announcement confirms an April report by Reuters that said the companies were working out a deal involving a CNPC investment at Comperj in exchange for a stake in the offshore Campos Basin and rights to use the refinery.
Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday it has signed a letter of intent with China National Petroleum Corp (CNPC), advancing negotiations regarding a strategic partnership. The potential partnership includes the conclusion of construction at the Comperj refinery and CNPC's "participation" in the Marlim oil field, Petrobras said in a securities filing, without offering additional details. In April, Reuters reported that talks between CNPC and Petrobras were maturing, with CNPC likely to invest in Comperj and take a stake in oil fields in the Campos Basin, where Marlim is located.
State-run Brazilian oil company Petroleo Brasileiro SA (Petrobras) said on Tuesday it was suspending major asset sales after a Supreme Court justice ruled that Congress must approval any privatizations. Petrobras said it would suspend the sale of certain refineries, its gas pipeline company Transportadora Associada de Gas (TAG) and the Araucaria fertilizer factory. Justice Ricardo Lewandowski said last week that the Brazilian Congress must approve any sales of publicly held shares in companies or their subsidiaries, casting doubt on planned divestitures by Petrobras as well as state utility Centrais Eletricas Brasileiras.