Petrobras with sufficient funds to operate Libra; denies need of fuels price increase

Wednesday, October 23rd 2013 - 21:21 UTC

Full article 4 comments

Petrobras has sufficient funds on hand to pay its share of a hefty Brazilian government fee for operations at the Libra offshore “pre-salt” oil field and won't need to request a fuel-price increase to meet the obligation, the company's president Graca Foster said on Wednesday. Read full article

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golfcronie
Early days , Graca, early days. Drilling that deep has many complications. And how expensive it is.
Oct 24th, 2013 - 06:55 am - Link - Report abuse 0
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Brasileiro
@1

The Libra field starts producing in 2017. However, Petrobras already produces 300,000 barrels of oil in the Lula field.

Libra and Lula are the pre-salt fields. There are many other fields in the pre-salt to be auctioned.

Shell, Total and the Chinese will be favored by the partnership with a technologically superior company like Petrobras.

Petrobras will be favored by dividing investment expenditures.
Oct 24th, 2013 - 01:22 pm - Link - Report abuse 0
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ChrisR
@ 2 Brasileiro
“Shell, Total and the Chinese will be favored by the partnership with a technologically superior company like Petrobras.”

This isn't you doing illegal insider trading is it?

Oh, sorry. Insider trading is only illegal in modern, western societies, not Brazil, ask the Liar Mantega.
Oct 24th, 2013 - 08:10 pm - Link - Report abuse 0
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Stevie
Insider trading is more a common practice in western societies, Chris. What are you talking about?
Oct 25th, 2013 - 09:09 am - Link - Report abuse 0
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