Tag: Petrobras

Friday, September 28th 2018 - 08:47 UTC
Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.
Friday, September 28th 2018 - 08:17 UTC
Petrobras gradually moving out of lawsuits stemming from major corruption scheme

Petrobras, Brazil's state oil company, has agreed to pay more than US$ 853m to the United States and Brazil, ending a long-running corruption investigation. The probe stemmed from a bribery scheme at the firm, which involved millions in payments that were concealed from investors and regulators.
Monday, September 24th 2018 - 09:15 UTC
Petrobras plans to increase output 10% next year to some 2.3 million bpd

Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.
Wednesday, September 19th 2018 - 08:18 UTC
Brazilian Bovespa market index up 1.75%; Real suffers a slight depreciation

Brazil's benchmark Bovespa index rose 1.75% on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale and oil giant Petrobras benefited from rising commodity prices worldwide amid escalating China-U.S. trade tensions and signals OPEC is not prepared to raise output to address shrinking supplies from Iran.
Friday, August 31st 2018 - 08:29 UTC
Norway's Equinor plans to invest US$ 15bn in Brazil's oil, gas and renewables

Norway's Equinor will invest up to US$ 15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said. Coinciding with an expected drop in output from many aging oilfields off the cost of Norway, Brazil is expected to become a core region for Equinor as the firm takes advantage of the country’s opening in recent years to more foreign investment.
Friday, August 31st 2018 - 08:22 UTC
BP, Shell, Total to bid in Brazil's pre-salt auction

Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.
Saturday, August 4th 2018 - 11:41 UTC
Petrobras profits soar thirty fold in the second quarter helped by rising oil prices

Brazil’s Petrobras benefited from the rising oil prices and booked a thirty-fold yearly jump in its second-quarter net income, which also beat analyst expectations.
Saturday, July 28th 2018 - 08:33 UTC
Lula pledges to block or undo privatizations if returned to office

Brazilian jailed former president Luiz Inacio Lula da Silva pledged on Friday to block or undo privatizations if he is returned to the office he held from 2003 to 2010.
Wednesday, July 11th 2018 - 07:00 UTC
Petrobras diversifies to renewables: signs MoU with Total's green arm

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

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.