Capital-strapped Petrobras wants to extend oil and gas fields contracts

Thursday, December 24th 2015 - 11:11 UTC

Full article 5 comments

Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said. Read full article

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Bisley
Petrobras needs to be sold to private industry. Government (any government) is too corrupt and incompetent to run any sort of business effectively. It's hard for a well-run company to lose money in the oil business, but when it's run for political advantage and as a source for politicians to steal from, rather than to produce and sell oil at a profit, it can be done.
Dec 24th, 2015 - 06:12 pm - Link - Report abuse 0
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Brasileiro
No, it's not. Petrobras is Brazil and will remain in the hands of Brazilians. Energy is too strategic to be managed by the private sector.

https://www.youtube.com/watch?v=xU89MbEZgnw&list=FLmXPTu1f8AdGlizWNiASx2A&index=2
Dec 24th, 2015 - 06:17 pm - Link - Report abuse 0
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ChrisR
Petrobras is tottering on the edge of financial collapse as is Brazil itself.

Difficult to call it as to which one collapses first.

Mr. Market has not been consulted about this and may well throw a spanner in the works when asked to ante-up the money.

Oh dear, never mind, the military will put it right again when they takeover the government and jail the crooks. Can't be long now!
Dec 24th, 2015 - 06:29 pm - Link - Report abuse 0
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Brasileiro
Death is the least of the problems, Crying. If we have to die along with Petrobras, will be a pride.

https://www.youtube.com/watch?v=IUb1DKE9c0Q&index=161&list=FLmXPTu1f8AdGlizWNiASx2A

Brasil ! Portugal ! Angola !
Dec 24th, 2015 - 07:05 pm - Link - Report abuse 0
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yankeeboy
As PBR goes so does Brazil. They have little choice but to go into bankruptcy and be taken over by the State or sold outright (best choice).
Dec 25th, 2015 - 12:36 am - Link - Report abuse 0
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Conqueror
@2. Then Petrobras needs to pay back everything its borrowed. NOW!
@4. Who would care if Brazil died? Its always been pretty pointless and useless.
Dec 25th, 2015 - 05:30 pm - Link - Report abuse 0
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