Petrobras Archives - Page 6 of 9

Petrobras, Equinor stake out opposite renewables strategies in Brazil

December 1, 2020

Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is

Brazil’s Petrobras pays off $2 billion revolving credit line

September 28, 2020

Reuters BRASILIA – Brazilian state-controlled oil producer Petroleo Brasileiro S.A. PETR4.SA said on Monday that it has fully repaid the remaining $2 billion balance on its dollar-denominated revolving credit line, which will now allow it to access new facilities. Petrobras can now access lines of up to $7.6 billion, and 4 billion reais ($727 million), the company said in a securities

Brazil boosts oil exports to Asia as global rivals make record cuts

July 20, 2020

Reuters RIO DE JANEIRO/MEXICO CITY – Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic. The rise reflects Brazil’s growing clout among global oil producers as its

Petrobras again delays Garoupa oilfield offer as faces new setbacks: sources

May 12, 2020

Reuters RIO DE JANEIRO – Petrobras has delayed the submission of binding offers for an oilfield cluster known as Polo Garoupa for a fourth time, two sources with knowledge of the matter told Reuters, as investor appetite in Brazil’s offshore oil sector rapidly dries up. With annual production of 19,600 barrels of oil equivalent per day according to bidding

Brazil’s Petrobras says oil exports hit new record 1 million barrels a day in April

May 4, 2020

Reuters BRASILIA – Brazilian state-owned oil giant Petrobras said on Monday it exported a record 1 million barrels of oil a day in April, beating the previous record of 771,000 barrels a day in December last year. In a securities filing, Petroleo Brasileiro SA, as the firm is formally known, said that marked an increase of 145% over the same

Chevron, Petrobras plan to sell deepwater Brazilian field

February 3, 2020

Houston Chronicle Chevron and Brazil’s state oil company plan to sell their 100 percent ownership stake of a key deepwater field offshore of South America’s largest country as they both seek to sell assets to cut costs. The deepwater Papa Terra oil field in Brazil’s Campos Basin came online in 2013 and now produces oil and gas through two offshore platforms. Brazil’s

Petrobras to price its largest share offering in a decade on Feb. 5

January 22, 2020

Reuters SAO PAULO (Reuters) – Brazil’s Petrobras will price its largest share offering in a decade on Feb. 5, it said in a securities filing on Wednesday, through which development bank BNDES will seek to divest part of its stake in the oil company. The base share offering could raise 19.5 billion reais ($4.66 billion), considering Petrobras’s closing share price

Petrobras to lease LNG operations in Bahia

December 10, 2019

LNG World News Brazil’s state-controlled oil and gas company Petrobras has started a process to lease its Bahia regasification LNG terminal and its integrated pipeline in northeast Brazil. Petrobras said on Monday that the start of the terminal lease process began following an agreement signed with the Administrative Council for Economic Defense. According to the company, the prequalification procedure of

Exclusive: Failed Exxon talks left Petrobras stranded for auctions – sources

November 8, 2019

Reuters As the weeks ticked down to Brazil’s biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp (XOM.N) pulled out days before, according to six people familiar with the matter. While many firms were far from ready to take on enormous signing fees and investments, Exxon

Oil spill may be worst environmental ‘attack’ in Brazil’s history: Petrobras CEO

October 29, 2019

Source: Reuters RIO DE JANEIRO (Reuters) – Oil slicks washing up on beaches along more than 2,000 kilometers (1,240 miles) of Brazil’s northeast coastline could be the worst environmental “attack” in the country’s history, the chief executive of state-run oil giant Petrobras said on Tuesday. Speaking at an event in Rio de Janeiro, Roberto Castello Branco said Petrobras continues to

Big Oil seeks refuge in Brazil from Latam regional turmoil

October 28, 2019

Source: Reuters RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in

Investors cheer falling production costs at Brazil’s Petrobras

October 25, 2019

Reuters RIO DE JANEIRO (Reuters) – Investors cheered a significant cut in production costs at Brazil’s state-run oil firm Petrobras on Friday, sending shares in the company soaring 4% in morning trade, their biggest intraday gain in more than a month. In its third-quarter results released on Thursday night, the company said production costs in a key offshore oil area

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