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Montevideo, July 21st 2018 - 13:34 UTC

Tag: Petrobras

  • Wednesday, July 11th 2018 - 07:00 UTC

    Petrobras diversifies to renewables: signs MoU with Total's green arm

    The MoU will focus on the analysis of joint business opportunities in the solar and onshore wind sectors in the country

    Brazilian state-run oil and gas company Petrobras has signed a memorandum of understanding (MoU) with French oil major Total SA and its green arm Total Eren SA for collaboration in renewable projects in Brazil.

  • Wednesday, June 27th 2018 - 08:26 UTC

    Brazilian shares recover cautiously; Central bank absent from the foreign exchange market

    Petrobras' shares (+2.16%) rose reflecting the expectation that company should be able to appeal against the billion-dollar labor lawsuit it recently lost

    After trading lower for a good part of Tuesday's session, the Ibovespa closed higher for the third consecutive day (+0.64%), to 71,404.59 points, driven mainly by the shares of Petrobras and Vale. The improvement in the U.S. stock markets also helped to recover the benchmark stock index in Brazil, although concerns remain about a world trade war.

  • Tuesday, June 26th 2018 - 09:06 UTC

    Petrobras agrees to pay US$ 3bn in reparations to US investors

    Petrobras will pay US$ 2.95 billion to its American shareholders. This sum is 6.5 times the amount Petrobras has recovered from funds embezzled in the corruption ring

    Brazilian state oil company Petrobras announced Monday that it would pay almost 3 billion U.S. dollars in reparations to U.S. investors who were harmed by the corruption ring within the firm. Brazil's largest company was sued in a class action lawsuit, which was approved on June 22 by a federal court in New York.

  • Tuesday, June 26th 2018 - 08:26 UTC

    Petrobras begins operations at Tartaruga Verde field

    Tartaruga Verde field has good quality oil (27º API), and is located in the southern area of the Campos basin, in the post-salt, in water depth ranging from 700 to 1,300 m

    Petrobras has announced the start of production at Tartaruga Verde field, in the deep waters of the Campos basin, by means of FPSO Cidade de Campos dos Goytacazes. The FPSO is located about 127 km off the coast of the state of Rio de Janeiro, in water depth of 765 m, with a capacity to process daily up to 150,000 bbl of oil and 3.5 MMcmg and 5 MMcm of gas compression.

  • Friday, June 22nd 2018 - 09:10 UTC

    Petrobras loses massive wage dispute, which could cost US$ 4.5 billion

    The head of the Superior Labor Court, Brito Pereira, had to vote to untie the ruling, which had 13 labor judges voting for the employees and 12 for the company

    Brazil’s top labor court on Thursday ruled in favor of workers at Petrobras in a wage dispute that could cost the world’s most indebted oil company up to 17 billion Reais (US$ 4.5 billion). Petrobras may still appeal the Superior Labor Court’s ruling in the case, brought by oil workers seeking more pay.

  • Thursday, June 21st 2018 - 08:57 UTC

    Brazil eases rules in oil industry to boost production

    Petrobras banned top offshore construction companies, most of which domestic,  after the Lava Jato investigation revealed the extend of corruption

    Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday.

  • Friday, June 15th 2018 - 10:57 UTC

    Petrobras ex-CEO becomes head of Brazilian giant food processor BRF

    Parente was elected BRF chairman in April when shareholders were seeking a management overhaul in the wake of a food safety probe and poor results.

    The board of Brazilian food processor BRF SA on Thursday elected Chairman Pedro Parente to the additional post of chief executive, the company said in a securities filing. Parente, the former CEO of state-controlled oil company Petrobras will hold both positions for an initial period of 180 days, BRF said.

  • Wednesday, June 6th 2018 - 08:38 UTC

    Brazil industrial production returned to positive growth during April

    April reported good returns for oil derivatives and bio-fuels, up 5.2%, while automotive production grew by 4.7%.

    Brazilian industrial production increased 0.8% in April, marking a return to positive growth after dropping by 0.1% in March, the government announced on Tuesday. According to the report by Brazil's statistics bureau, IBGE, the industrial sector has grown 4.5% so far in 2018.

  • Thursday, May 31st 2018 - 08:27 UTC

    Debilitated Brazilian government challenged with an oil-workers 72-hour strike

    The oil sector strike included workers on at least 20 oil rigs in the lucrative Campos basin of 46 operated by Petrobras

    Brazilian oil workers began a 72-hour strike on Wednesday in a new blow to President Michel Temer following a nationwide trucker protest that has strangled Latin America's largest economy for over a week. The strike affecting several rigs, refineries, plants and ports is the latest challenge for state-led oil firm Petrobras, whose shares have tumbled nearly 30% in two weeks over fears that political interference would unwind more investor-focused policies.

  • Thursday, May 31st 2018 - 07:40 UTC

    Deal to compensate one of the world's most indebted oil company

    Despite overlapping with the truckers’ strike, talks “were not suspended,” Deputy Mining and Energy Minister Marcio Felix said. “They are very close”

    Petrobras and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.

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