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Montevideo, October 20th 2017 - 03:31 UTC

Tag: Petrobras

  • Tuesday, October 17th 2017 - 12:16 UTC

    Federal audit freezes Rousseff and Gabrielli assets over losses in refinery purchase

    Ex president Rousseff was chief of staff for President Lula da Silva at the time of the refinery purchase and chaired the Petrobras board of directors.

    Brazil's federal audit court ordered a freeze of former President Dilma Rousseff's assets as well as those of José Sérgio Gabrielli, ex-head of state-run oil company Petrobras, over a US$580 million loss in the 2006 purchase of a Texas refinery.

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  • Wednesday, October 4th 2017 - 08:22 UTC

    Petrobras controversy: Brazil denies any current plans to privatize the company

    Minister Coelho Filho said in the interview that a privatization plan could be feasible at some point down the road. “I think it is going to happen. It is a way”

    A senior official in Brazil said there are no current plans to privatize the national oil company to deal with its massive debt, according to a new report by Reuters. Fernando Coelho Filho, the minister of mines and energy, had suggested that Petrobras could face such a sale in the future, but did not provide a concrete timeline.

  • Wednesday, September 20th 2017 - 22:26 UTC

    Petrobras recovers significant investment risk and trims debt burden

    Petrobras sold US$1 billion each worth of senior unsecured bonds due in 2025 and 2028, respectively.

    Petrobras raised US$2 billion from the sale of seven- and 10-year securities, replacing more expensive shorter-dated bonds as it seeks to trim a debt burden that is the largest among major oil firms. Petrobras sold US$1 billion each worth of senior unsecured bonds due in 2025 and 2028, respectively. Market experts said Petrobras sold the January 2025 bond at a yield of 5.3%, and the January 2028 bond at 6%.

  • Tuesday, August 8th 2017 - 17:28 UTC

    Petrobras cuts gasoline prices to regain market share lost to imports

    Petrobras gasoline cost 0.16 real per liter less than U.S. imported gasoline in Brazil as of Aug. 1, according to data from the consultancy.

    Brazil's Petrobras has reduced prices for the gasoline it sells in Brazil to below parity with the fuel imported from the United States, reducing profit margins to regain market share. The company has sharply reduced the price gap between the value of gasoline sold at its refineries and the spot price in the U.S. Gulf of Mexico since early July, when it announced changes to its pricing to adopt almost daily adjustments, according to fuel market experts.

  • Thursday, July 6th 2017 - 19:16 UTC

    Chinese company will exploit energy resources in Brazil

    Since 2013, Petrobras and CNPC have partnered to explore the Libra offshore oilfield in southeast Brazil, considered the most valuable oilfield in the country

    Petrobras announced that it signed a memorandum of understanding with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the deal will allow the two state oil companies to benefit from each other's capacity and experience in oil and gas production.

  • Thursday, July 6th 2017 - 06:57 UTC

    Brazilian plan to review purchase of Bolivian natural gas

    Petrobras, which financed and built the pipeline on both sides of the border, is allowed to buy up to 30.1 million cubic meters of gas per day

    Petrobras should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.

  • Thursday, July 6th 2017 - 06:42 UTC

    Petrobras awards pipeline inspection services contract to Fugro and its new vessel

     Built specifically for the Brazilian market by Wilson Sons shipyard in São Paulo,  Fugro Aquarius is an 83-m, DP-2 ROV support vessel.

    Netherlands Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.

  • Thursday, May 18th 2017 - 22:37 UTC

    Bovespa plummets 8.8% and Real suffers the largest drop in 14 years

    Bovespa stock index closed 8.8% lower, its biggest daily decline since 2008.  Trading was halted for an hour after a 10%t drop triggered a circuit-breaker mechanism.

    Brazilian markets plummeted on Thursday as allegations that President Michel Temer condoned bribes to silence a key witness deflated investor optimism about the prospects for his ambitious pension and labor reform agenda.

  • Wednesday, May 17th 2017 - 15:53 UTC

    Petrobras performance improving: largest quarterly earnings in two years

    Petrobras has benefited in recent quarters from a hands-off approach by the government regarding fuel prices, which it has been forced to subsidize at times.

    Brazilian state-controlled oil company Petrobras reported its largest quarterly earnings in two years as crude prices rose and the government allowed it to sell fuel at a profit in the domestic market. Petrobras posted a 4.5 billion reais net profit (US$ 1.4bn) in the January to March period, reversing a 1.25 billion reais loss (US$ 400 million) in the first three months of 2016.

  • Thursday, May 4th 2017 - 05:44 UTC

    Petrobras reveals Libra field achieves a breakeven price of US$ 35/bbl

    The Libra consortium aimed to reduce the breakeven price by focusing on cost optimization and increased recovery factor of the block’s deposits.

    Brazil's oil and gas company Petrobras shared innovations and efficiency gains related to the Libra field at the Offshore Technology Conference (OTC) in Houston. Petrobras revealed collaboration between Libra area partners has produced a US$13/bbl reduction to the project's breakeven price.

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