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MercoPress, en Español

Montevideo, September 21st 2024 - 02:43 UTC

Tag: Petrobras

  • Wednesday, November 30th 2016 - 09:31 UTC

    Temer signs bill that opens sub-salt oil deposits to private the sector

    With the new bill Petrobras has signaled its reluctance to take on the operator role for new sub-salt projects, and could end up selling stakes in sub-salt projects

    Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets.

  • Monday, November 14th 2016 - 07:54 UTC

    Petrobras cleans balance sheet and posts unexpected third quarter loss

    Despite losses, operational and cash flow trends improved, said Chief Financial Officer Ivan Monteiro said.

    Brazilian state-controlled oil company Petrobras posted an unexpected third-quarter loss after drastically reducing the value of oil fields and other assets amid a severe downsizing and weak oil prices. Petrobras lost a net 16.458 billion reais (US$4.9 billion) last quarter, five times more than a year earlier. Despite that, operational and cash flow trends improved and, without an impairment, profit could have totaled 600 million Reais, Chief Financial Officer Ivan Monteiro said.

  • Friday, November 11th 2016 - 19:28 UTC

    Petrobras signs US$ 1.2bn contract for natural gas exploration in southern Bolivia

    President Evo Morales and Brazil's Mines and energy minister, Fernando Coelho Filho, traveled to Santa Cruz for the signing ceremony.

    Executives of Brazilian state oil company Petrobras and Bolivian counterpart YPFB signed this week a contract for a US$1.2 billion natural-gas exploration venture in southern Bolivia. Bolivian President Evo Morales and Brazil's minister of mines and energy, Fernando Coelho Filho, traveled to Bolivia's eastern city of Santa Cruz for the signing ceremony.

  • Thursday, November 10th 2016 - 11:35 UTC

    Brazil lowers fuel prices: diesel down 10.4% and gasoline, 3.1% at the refinery

    The aim is to enable Petrobras to implement a competitive pricing policy that reflects movements in the international oil market in shorter periods.

    In line with the pricing policy announced by Petrobras on October 14, 2016, the company’s markets and pricing executive committee has decided to reduce the prices of diesel and gasoline sold at its refineries by 10.4% and 3.1%, respectively.The combination of a 12.1% fall in the international prices of oil and oil products between October 14 and now, and the reduction in the company’s domestic market share has impacted the usage level of Petrobras’ assets, especially its refineries, its inventory levels and also its flows of imports and exports

  • Tuesday, October 25th 2016 - 12:20 UTC

    Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

    The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said at the Rio Oil and Gas conference.

    President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference.

  • Tuesday, October 25th 2016 - 09:07 UTC

    Petrobras and Total reach strategic alliance for upstream and downstream projects

    “This is a far greater level of cooperation between Total and Petrobras than you usually get in the oil industry,” stated the Total release

    Brazil's Petrobras and France's Total oil companies announced on Monday a strategic alliance Monday for upstream and downstream projects as President Michel Temer pronounced Brazil's troubled economy reopened for business.

  • Thursday, October 13th 2016 - 10:13 UTC

    Petrobras no longer an arm of government to control inflation, pledges CEO

    Petrobras, which hasn’t adjusted gasoline and diesel prices for more than a year, will set prices at or above parity with international levels, Parente said

    Petrobras is reading to announce a domestic fuel policy that will avert costly subsidies that drained profits during Brazil’s previous government, Chief Executive Officer Pedro Parente said in an interview. For years fuel prices were manipulated as part of the government's policy to keep inflation under control.

  • Tuesday, October 11th 2016 - 08:52 UTC

    Brazil congress limiting Petrobras monopoly over subsalt oil resources

    Brazil hopes the rules changes will attract foreign oil companies with resources that the scandal-plagued, debt-ridden Petrobras does not have.

    Brazil's lower chamber of Congress approved this week the main points of a bill removing a requirement that state-led oil company Petrobras be the sole operator of vast offshore oil reserves in the costly subsalt layer with a minimum 30% stake in their development.

  • Friday, September 23rd 2016 - 11:16 UTC

    Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

    Petrobras will focus on the most profitable project in deep waters, CEO Parente said. “Petrobras wants to spend less to produce the same”.

    Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.

  • Wednesday, August 31st 2016 - 05:03 UTC

    Norway's Statoil and Petrobras expand strategic alliance and cooperation

    The agreement was signed by Petrobras’ president and CEO, Pedro Parente, and Statoil’s CEO, Eldar Sætre, during the ONS 2016 conference in Stavanger.

    Norways' StatOil and Petrobras have signed a memo of understanding to strengthen their cooperation in Brazil. The two major companies are are already partners in 13 blocks and the intention of the MoU is to evaluate joint participation in future tenders for exploration areas and to increase upstream collaboration in producing fields in the Santos and Campos offshore basins.