Tag: Petrobras

Monday, February 22nd 2021 - 08:10 UTC
Fuel prices dispute, Petrobras CEO removal trigger fears of economic populism

More changes are in the pipeline, announced Brazilian president Jair Bolsonaro, after replacing the CEO of the country's oil and gas giant Petrobras with a former general. The move had an immediate impact in markets given the confidence investors had in the removed University of Chicago educated economist, Roberto Castello Branco.
Saturday, February 20th 2021 - 08:42 UTC
Bolsonaro sacks Petrobras CEO over diesel prices dispute and truckers strike threat

Brazilian President Jair Bolsonaro on Friday sacked a market-friendly economist as CEO of Petrobras and named a retired general to replace him, following on disputes over diesel prices that threatened a major teamsters stoppage.
Tuesday, February 2nd 2021 - 08:54 UTC
Petrobras strikes oil in the pre-salt Campos Basin offshore Rio de Janeiro

Brazil's oil and gas giant Petrobras announced a hydrocarbon discovery in the pre-salt Campos Basin offshore Rio de Janeiro state, some 200 kilometers from the coast and at a depth of 2,950 meters.
Tuesday, January 26th 2021 - 09:30 UTC
Petrobras oil output hits record in 2020, 2,3 million bpd

By Irina Slav for Oilprice.com – Crude oil output from fields operated by Brazil's energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million BPD, Bloomberg reported, comparing the production rate to that of Kuwait.
Thursday, January 14th 2021 - 09:19 UTC
Brazilian oil export record in 2020, average 1,4 million bpd

Brazil established a new record for oil exports in 2020, with sales averaging 1,4 million bpd and a peak of 1,9 million bpd during the month of May, according to the Mines and Energy minister Bento Albuquerque. The minister also announced that on 7 January, Brazil's oil giant Petrobras reached a daily production record of 2,84 million barrels of oil, beating the previous mark set in 2015, with 2.79 million BOE/day.
Saturday, December 12th 2020 - 08:45 UTC
Brazilian federal prosecutors file lawsuit against Maersk for alleged corruption involving Petrobras

Federal prosecutors in Brazil filed a civil lawsuit against Danish shipping company Maersk and former executives representing the firm for alleged corruption involving shipping contracts with state-run oil firm Petrobras, they said on Friday.
Tuesday, November 17th 2020 - 09:34 UTC
Brazil is emerging as the world's leading offshore oil producer

By Matthew Smith for Oilprice.com – Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the third-largest supplier of crude oil to China, the world’s second-largest economy.
Monday, November 9th 2020 - 09:21 UTC
Petrobras expects increased production from the pre-salt offshore basin

By Tsvetana Paraskova for Oilprice.com – Because of the increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said when it reported its production figures for Q3.
Thursday, October 29th 2020 - 08:28 UTC
Petrobras cutting losses as Brazilian economy and fuel demand are increasing

Brazil's state-run oil giant Petrobras announced on Wednesday it reduced its losses in the third quarter of the year, the company's third negative result in a row due to the global economic meltdown caused by the coronavirus pandemic.
Friday, October 9th 2020 - 09:49 UTC
More investigations into Petrobras corruption, this time involving bunker fuel contracts

Brazilian police expanded the Car Wash corruption investigation to alleged kickbacks valued at US$ 8 million on contracts for bunker fuel bought by state-run oil company Petrobras for its fleet of tankers.