Tuesday, November 5, 2024

Petroleo Brasileiro News

Petrobras Post Strong Results as Crude Rises, Gas Strengthen

© Celso Pupo / Adobe Stock

Brazil's Petrobras beat second quarter profit estimates on Wednesday, as higher Brent prices, strong natural gas sales and relatively controlled expenses boosted the company's bottom line.In an evening securities filing, Petroleo Brasileiro SA…

Brazil: Petrobras receives $45M in Vitol Corruption Settlement

Petrobras HQ - Image by Celso Pupo/AdobeStock

Brazilian state-run oil company Petrobras said that it had received 232.6 million reais ($44.65 million) on Tuesday in a settlement with Swiss energy trading firm Vitol, which was implicated in a sprawling national corruption probe.Petroleo Brasileiro SA…

Coronavirus Outbreaks Hit Petrobras' Quarterly Output

(File photo: Petrobras)

Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday, though the firm indicated output may improve in certain regions.In a securities filing…

Petrobras Sees No Need to Cut Oil Production

(Photo: Petrobras)

Brazil's state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America's…

Brazil Breaks Oil Output Record in January

Illustration; An FPSO in Brazil - Image by Ranimiro / AdobeStock

Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday.

Maersk, Tide Maritime Targeted in Petrobras Probe

Brazilian authorities on Wednesday targeted Maersk and other companies for allegedly paying bribes to get an edge in securing shipping contracts with state oil firm Petroleo Brasileiro SA, in the latest phase of a sprawling…

Shell Eyes Brazil Exploration Areas

The head of Royal Dutch Shell Plc in Brazil said on Friday that it currently made more sense for the company to look for exploration areas.Speaking after Brazil's disappointing oil auctions this week, which Shell chose to sit out…

Big Oil Stuns Brazil in Back-to-back Auction Flops

© Simon Mayer / Adobe Stock

Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro…

Moment of Truth for Brazilian Oil Auction is Here

Reuters graphic of Brazil Oil blocks

Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round, the largest offer of crude and gas reserves…

Equinor Eyes Brazil Natural Gas Infrastructure

Peregrino A platform , with FPSO in the background offshore Brazil (Photo: Øyvind Hagen / Equinor)

Norway's Equinor ASA is scouting locations on Brazil's coast to install new natural gas infrastructure, the company's Brazil chief said, as the firm's gas-heavy offshore fields come on-line in the coming years.Natural gas…

Petrobras Posts Another Major Production Boost

(File photo; Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater, pre-salt zone showed signs of paying off.Investors and analysts have been…

Keppel, Sembcorp Reach Deal with Embattled Brazil Firm

When the Settlement Agreement is completed, Keppel O&M will have full ownership over the four uncompleted rigs to explore various options to extract the best value from the assets.  Keppel O&M is also in discussions with Magni Partners on the terms to complete the construction of the drilling rigs Urca (pictured) and Frade, which are about 92% and 70% completed respectively. (Photo: Keppel)

Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs.Sete, which leased oil rigs to…

Brazil Leads FPSO Crude Production Capacity

Brazil will also lead globally on crude production capacity through upcoming floating production storage and offloading (FPSO) vessels with 2,430 thousand barrels per day (mbd) between 2019 and 2025.A total of 20 planned…

Petrobras Posts Highest-ever Quarterly Profit

Photo: Petrobras)

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 Reports Higher Q2 Production

(Photo: Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade.In an early Friday securities filing…

Petrobras to Sell Natural Gas Assets

Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday.Petrobras, as the company is commonly kn

Petrobras Sells TAG, Gets $8.7 bln

Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement…

Bids for Petrobras' Shallow Water Fields Surpass $1 Bln

(Photo: Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA said on Thursday it received final proposals for shallow water fields Polos Enchova and Pampo that surpass $1 billion in value, according to a securities filing.The transaction is still subject to internal approvals, the co

Brazil Sets Parameters for Mega Oil Auction

Petrobras chief executive Roberto Castello Branco (Photo: Petrobras)

Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup…

Petrobras to Sell Pipeline Unit for $9 Bln

© freedom_naruk / Adobe Stock

Brazilian state-run oil company Petroleo Brasileiro SA has agreed to sell its TAG natural gas pipeline unit to a consortium led by France's Engie SA for roughly $9 billion, Bloomberg News reported on Friday, citing a source.The Engie consortium…