Tag: Petrobras

Tuesday, January 30th 2018 - 10:00 UTC
Petrobras to join the Oil and Gas Climate Initiative

The Oil and Gas Climate Initiative (OGCI) and Petrobras announced that the Brazilian company will join the initiative. This commitment is subject to the approval of the OGCI Climate Investments Members’ Agreement by the Petrobras board of directors.
Thursday, January 25th 2018 - 07:05 UTC
Brazil shares surge as Lula's corruption conviction is confirmed ruling him out his presidential bid

Brazilian assets soared, with the Bovespa surging above 83,000 for the first time ever, and the currency Real surging through 3.20 after three judges in a local appeals court upheld a conviction for corruption imposed last July on ex-President Lula da Silva.
Tuesday, January 16th 2018 - 09:48 UTC
Petrobras and Total confirm completion of Strategic Alliance involving US$ 1.9bn

Petrobras has completed the previously announced sale of shares in several Brazilian fields to France’s Total for US$1.95 billion it was confirmed. The deal was announced as part of the two companies’ Strategic Alliance, signed in March 2017.
Friday, January 5th 2018 - 11:05 UTC
Petrobras Brazilian shareholders demand similar payment as those in a class action lawsuit in US

Brazilian shareholders of state-controlled Petrobras are petitioning a Brazilian court to be paid on similar terms as those given to U.S. shareholders in a US$ 2.95 billion settlement, according to lawyers representing them.
Thursday, January 4th 2018 - 09:18 UTC
Petrobras agrees to pay US$ 2.95bn to settle class action suit in New York

Petrobras has agreed to pay US$2.95 billion to settle a class action suit in New York brought on behalf of investors harmed by a huge corruption scandal at the Brazilian state oil giant, the company said on Wednesday.
Wednesday, December 27th 2017 - 10:44 UTC
Brazil is the world's ninth largest producer of hydrocarbons

Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to data through August, up from 3.2 million b/d in 2016, making it the ninth-largest producer of petroleum and other liquids in the world. Production of crude oil in Brazil increased in recent years as producers targeted large, offshore, pre-salt oil deposits. Brazil’s pre-salt oil production in 2016 reached a record 1.02 million b/d, surpassing the 2015 production level by 33%.
Saturday, December 23rd 2017 - 10:11 UTC
Petrobras 2018/22 business plan foresees US$ 74.5bn investments

Petrobras' business and management plan for 2018 through 2022, approved by the Brazilian state-owned oil company's board of directors, foresees investments of US$ 74.5 billion, slightly higher than the US$ 74.1 billion projected in the previous 2017-2021 program.
Saturday, December 23rd 2017 - 09:58 UTC
Petrobras corruption: Offshore corporation agrees to pay US$ 422 million in fines

Keppel Corporation's offshore and marine unit has reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by a former agent in Brazil. The resolution, involving three jurisdictions across the world, is unprecedented for a Singapore company.
Tuesday, November 28th 2017 - 09:21 UTC
Total begins oil production in the giant Libra field in Brazil's pre-salt zone

The giant Libra field in Brazil’s pre-salt zone has started producing oil, French Total said on Monday without providing details about the production rate at the field.
Friday, November 17th 2017 - 08:03 UTC
Petrobras counts on pre-salt production to compete with a boom in US shale output

Brazil's low-cost oil will help Petrobras compete in a tough market as it seeks to turn around its business, Pedro Parente, CEO of the state-owned oil giant anticipated. Oil majors such as Exxon, Mobil, BO, Royal Dutch Shell, Total and Statoil have been snapping up blocks in the Atlantic Ocean off the coast of Brazil that hold crude under thousands of meters of salt.